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Special powers

The AMF has special powers to enable it to reduce a given risk or to avoid or reduce a future loss.

In this regard, it can:

  • advance funds, with or without a guarantee, to an institution whose permit has been suspended or revoked, or guarantee the payment of such an institution's obligations;
  • acquire the assets of a registered institution or an institution whose permit has been suspended or revoked;
  • make a deposit or guarantee a deposit made with a registered institution;
  • insure a registered institution against the losses it could incur following an amalgamation with another registered institution or with an institution whose permit is suspended or revoked, or subsequent to acquisition of the assets and assumption of the liabilities of such an institution;
  • conclude, subject to the Minister's authorization, an agreement with any organization that administers, in the opinion of the AMF, a similar plan, regarding an institution whose deposits are guaranteed in part by the AMF and in part by the organization;
  • obtain the authorization of the Minister to constitute a legal person or a partnership under an Act of Québec to carry out the winding-up of the assets acquired from a registered institution or to acquire any security issued by a registered institution; and
  • apply to the Superior Court for an order to force the sale or amalgamation of a registered institution whose permit has been suspended or cancelled.