Applications, Variations and Exemptions


Under the Act ↗, an insured institution must submit Applications to DICO for approval before completing certain specified transactions:

  • Group Capital Agreement
  • Borrow from Another Credit Union
  • Acquire or Establish a Subsidiary
  • Invest in another Credit Union
  • Asset Purchase or Sale in Excess of 15% of the Assets of the Credit Union

Applications must be supported by detailed supporting rationale and will only be approved where it meets established criteria.

An insured institution may also apply to DICO for approval for Variations and Exemptions to the certain specified requirements of the Act ↗.

  • Capital and Liquidity Requirements
  • Guarantees and Exemptions to Aggregate limits for Guarantees
  • Increase in lending limits
  • Extension to Divestment Period for Securities
  • Deemed Prescribed Subsidiaries
  • Investment Requirements
  • Acceptance of Unauthorized Securities and Other Assets Obtained Upon Amalgamation

DICO may approve a temporary variation or exemption in exceptional circumstances where it meets established criteria.

For Insured Institutions ONLY:

Further information is available in the secured part of our website, on the page Applications, Variations and Exemptions, Compliance Orders, Other Powers.