463Regulations providing for calculation of amount of person’s protected deposits or share of protected deposits

1. The Minister must, before recommending regulations under section 455(1)(j),—

2. have regard to the purpose of Part 6 set out in section 190; and
3. have regard to the economic substance of the arrangements referred to in section 212(1), under which persons are entitled, or may receive, benefits in connection with protected deposits; and
4. have regard to the principles that—
   1. compensation under Part 6 should be limited to $100,000 per eligible depositor per deposit taker; and
   2. the regulations should be consistent with the Bank efficiently and effectively performing its functions under Part 6 (in particular, providing compensation as soon as practicable after the Bank issues a specified event notice and ensuring that determining entitlements does not involve undue cost or delay).