5. The base assessment of a financial institution that is a cooperative credit association shall be equal to, for any fiscal year,

• (a) where the amount determined by the formula A × B / C is equal to or less than $10,000, the amount of $10,000, and

• (b) otherwise, the aggregate of $10,000 and the amount determined by the formula

  (B - D) × A / E

  where

  A 

  is the average total assets of the cooperative credit association ascertained pursuant to paragraph 2(c),

  B 

  is the amount by which the amount of expenses, ascertained pursuant to subsection 23(1) of the Act, incurred for or in connection with the administration of the Cooperative Credit Associations Act exceeds the total of any service charges, assessment surcharges and other revenues relating to the administration of that Act in respect of that fiscal year,

  C 

  is the aggregate of the average total assets for all cooperative credit associations, other than those referred to in subsection 3(2), ascertained pursuant to paragraph 2(c),

  D 

  is the product obtained by multiplying $10,000 by the number of cooperative credit associations assessed under subsection 23(3) of the Act in respect of that fiscal year, and

  E 

  is the aggregate of the average total assets ascertained pursuant to paragraph 2(c) for each cooperative credit association, other than one referred to in subsection 3(2), in respect of which the amount determined by the formula A × B / C is greater than $10,000.

6. The base assessment of a financial institution that is a life company, a society, a foreign life company or a foreign fraternal benefit society shall be equal to, for any fiscal year, the greater of

• (a) in the case of

  • (i) a society or foreign fraternal benefit society, $1,000, or

  • (ii) a life company or a foreign life company that is not a foreign fraternal benefit society, $10,000, and

• (b) the amount determined by the formula

  (C – D) × A / B

  where

  A 

  is the total amount of net premiums ascertained pursuant to paragraph 2(e) or (f), as the case may be, in respect of the financial institution, less 25 per cent of the amount, if any, by which that total amount exceeds $100 million,

  B 

  is the aggregate of the amounts determined for A, in respect of all financial institutions that are life companies, societies, foreign life companies or foreign fraternal benefit societies, other than those assessed under paragraph (a) and those referred to in subsection 3(2),

  C 

  is the amount by which the amount of expenses, ascertained pursuant to subsection 23(1) of the Act, incurred for or in connection with the administration of the Insurance Companies Act and attributable to financial institutions that are life companies, societies, foreign life companies or foreign fraternal benefit societies exceeds the total of any service charges, assessment surcharges and other revenues relating to the administration of that Act and attributable to those institutions in respect of that fiscal year, and

  D 

  is the aggregate of all the amounts assessed under paragraph (a) against all financial institutions that are life companies, societies, foreign life companies or foreign fraternal benefit societies.