Financial Institutions

The Financial Institutions Regulation Branch of the Manitoba Financial Services Agency was established in 2000. It administers The Insurance Act, The Credit Unions and Caisses Populaires Act, and Part XXIV of The Corporations Act. Financial Institutions is also responsible for the administration of certain requirements of The Cooperatives Act, namely the functions that relate to the supervision of the financial matters of cooperatives, the issuing of securities by cooperatives, and appeals of membership terminations in a housing cooperative.

In addition, Financial Institutions oversees the Insurance Council of Manitoba in its delegated role to license and supervise the activities of insurance agents, brokers and adjusters. Financial Institutions also authorizes trust and loan corporations to conduct business in Manitoba and has ultimate oversight responsibility for the credit union and caisses populaires sector in Manitoba and specific oversight responsibility for the Deposit Guarantee Corporation of Manitoba (DGCM).

Fees

The following fees are payable under the Credit Unions and Caisses Populaires Act and include the cost of notices that the Registrar must publish in The Manitoba Gazette:

CategoryFee
a) on issuance by the Registrar of a certificate of:
i. incorporation of a credit union$250.00
ii. amendment of articles, other than an amendment correcting a clerical error$200.00
iii. amendment of articles correcting a clerical error$30.00
iv. restated articles$135.00
v. amalgamation$1,000.00
vi. articles of reorganization$250.00
vii. revival of a credit union$70.00
viii. intent to dissolve or revocation of intent to dissolve$35.00
ix. dissolution$35.00
b) for approval of by-laws or amendment, repeal or replacement of by-laws$25.00
c) for filing a notice$5.00
d) for filing an annual return$50.00
e) for late filing of an annual return, for each day after the date the annual return is due to be filed (maximum total $125 per return)$1.00
f) for a request to reserve one name$30.00
g) for a search by mail of documents filed by a credit union$5.00
h) for an order of the registrar$135.00
i) for a certificate of status$20.00
j) for a certified or photo copy of i. articles$20.00
ii. any document not otherwise provided for in this subsection, A. for first page$5.00
B. for each additional page$.50
k) for limited registration of an extra-provincial credit union$250.00
l) for filing an offering statement$500.00
m) for filing a statement of change in facts$100.00
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