Insurance Companies Act ( 1991, c. 47 )
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| INSURANCE COMPANIES ACT |
| SHORT TITLE |
| PART I: INTERPRETATION AND APPLICATION |
| Definitions |
| Interpretation |
| Application |
| PART II: STATUS AND POWERS |
| PART III: INCORPORATION, CONTINUANCE AND DISCONTINUANCE |
| Formalities of Incorporation |
| Continuance |
| Discontinuance |
| Corporate Name |
| PART IV: ORGANIZATION AND COMMENCEMENT |
| Organization Meetings |
| Commencement and Carrying on of Business |
| PART V: CAPITAL STRUCTURE |
| Share Capital |
| Restrictions Specific to Shares of Mutual Companies |
| Subordinated Indebtedness |
| Security Certificates and Transfers |
| PART VI: CORPORATE GOVERNANCE |
| Division I: Shareholders and Policyholders |
| Place of Meetings |
| Calling Meetings |
| Record Dates |
| Notices of Meetings |
| Shareholder and Policyholder Proposals |
| Shareholder and Policyholder Lists |
| Quorum |
| Voting |
| Resolution in lieu of Meeting |
| Requisitioned Meetings |
| Powers of the Court |
| Pooling Agreements |
| Division I.1: Proxies |
| Division I.2: Restrictions on Voting |
| Division II: Directors and Officers |
| Duties |
| Qualification and Number — Directors |
| Election and Tenure — Directors |
| Incomplete Elections and Director Vacancies |
| Meetings of the Board |
| By-laws |
| Committees of the Board |
| Directors and Officers — Authority |
| Conflicts of Interest |
| Liability, Exculpation and Indemnification |
| Division III: Fundamental Changes |
| Amendments — Letters Patent |
| Mutualization |
| Conversion into Company with Common Shares |
| Amendments — By-laws |
| Amalgamation |
| Transfer of Business and Reinsurance |
| Division IV: Head Office and Corporate Records |
| Division V: Securities Registers |
| Division VI: Corporate Name and Seal |
| Division VII |
| Division VIII: Insiders |
| Interpretation |
| Insider Reporting |
| Insider Trading |
| Civil Remedies |
| Division IX: Prospectus |
| Division X: Compulsory Acquisitions |
| Division XI: Trust Indentures |
| Division XII: Financial Statements |
| Division XIII: Auditors |
| Interpretation |
| Appointment |
| Qualifications |
| Vacancies |
| Examinations and Reports |
| Qualified Privilege |
| Division XIV: Actuaries |
| Appointment |
| Vacancies |
| Valuations and Reports |
| Qualified Privilege |
| Division XV: Remedial Actions |
| Division XVI: Liquidation and Dissolution |
| Interpretation |
| Application |
| Simple Liquidation |
| Court-supervised Liquidation |
| General |
| PART VII: OWNERSHIP |
| Division I: Interpretation |
| Division II: Constraints on Ownership |
| Approval Process |
| Division III: Directions |
| General Provisions |
| PART VIII: BUSINESS AND POWERS |
| General |
| Classes of Insurance |
| Segregated Funds |
| Participating Policies |
| Reinsurance |
| Restrictions |
| Restrictions Specific to Life Companies |
| Restrictions Specific to Property and Casualty Companies |
| Borrowing Costs |
| Complaints |
| Miscellaneous |
| PART IX: INVESTMENTS |
| Definitions and Application |
| General Constraints on Investments |
| Subsidiaries and Equity Investments |
| Exceptions and Exclusions |
| Portfolio Limits |
| Commercial Lending by Life Companies |
| Consumer and Commercial Lending by Property and Casualty Companies |
| Real Property |
| Equities |
| Aggregate Limit |
| Miscellaneous |
| PART X: ADEQUACY OF CAPITAL AND LIQUIDITY AND ASSETS |
| PART XI: SELF-DEALING |
| Interpretation and Application |
| Prohibited Related Party Transactions |
| Permitted Related Party Transactions |
| Restrictions on Permitted Transactions |
| Disclosure |
| Remedial Actions |
| PART XII: FRATERNAL BENEFIT SOCIETIES |
| Interpretation |
| Powers |
| Corporate Governance |
| Investments |
| Application |
| General Constraints on Investments |
| Subsidiaries and Equity Investments |
| Exceptions and Exclusions |
| Portfolio Limits |
| Consumer and Commercial Lending by Societies |
| Real Property |
| Equities |
| Aggregate Limit |
| Miscellaneous |
| Saving |
| Liquidation and Dissolution of a Society |
| Interpretation |
| Application |
| Duty to Provide Information |
| Simple Liquidation |
| Court-supervised Liquidation |
| General |
| PART XIII: FOREIGN COMPANIES |
| Interpretation |
| Application |
| Insurance of Risks in Canada |
| Classes of Insurance |
| Segregated Funds |
| Reinsurance |
| Borrowing Costs |
| Complaints |
| Miscellaneous |
| Adequacy of Capital or Assets |
| Regulations |
| Assets in Canada |
| Investments |
| Definitions and Application |
| General Constraints on Investments |
| Commercial Lending by Foreign Life Companies |
| Consumer and Commercial Lending by Foreign Property and Casualty Companies |
| Real Property |
| Equities |
| Aggregate Limit |
| Self-dealing |
| Actuaries |
| Appointment |
| Vacancies |
| Valuations and Reports |
| Qualified Privilege |
| Auditors |
| Appointment |
| Qualifications |
| Vacancies |
| Examinations and Reports |
| Qualified Privilege |
| Records |
| Termination of Insurance Business in Canada |
| PART XIV: PROVINCIAL COMPANIES |
| Application |
| Order to Commence and Carry on Business |
| Duties of Directors |
| Corporate Records |
| PART XV: REGULATION OF COMPANIES, SOCIETIES, FOREIGN COMPANIES AND PROVINCIAL COMPANIES — SUPERINTENDENT |
| Interpretation |
| Supervision |
| Returns |
| Inspection of Companies, Societies, Foreign Companies and Provincial Companies |
| Remedial Powers |
| Prudential Agreements |
| Directions of Compliance |
| Disqualification and Removal |
| Supervisory Intervention |
| Special Assessments of Companies, Societies, Foreign Companies and Provincial Companies |
| PART XVI: REGULATION OF COMPANIES AND FOREIGN COMPANIES — COMMISSIONER |
| PART XVII: INSURANCE HOLDING COMPANIES |
| Purpose |
| Division 1: Interpretation |
| Division 2: Status and Powers |
| Division 3: Incorporation, Continuance and Discontinuance |
| Formalities of Incorporation |
| Continuance |
| Discontinuance |
| Corporate Name |
| Publication of Information |
| Division 4: Organization and Commencement |
| Division 5: Capital Structure |
| Share Capital |
| Subordinated Indebtedness |
| Security Certificates and Transfers |
| Division 6: Corporate Governance |
| Subdivision 1: Shareholders |
| Place of Meetings |
| Calling Meetings |
| Record Dates |
| Notices of Meetings |
| Shareholder Proposals |
| Shareholder List |
| Quorum |
| Voting |
| Resolution in lieu of Meeting |
| Requisitioned Meetings |
| Powers of the Court |
| Pooling Agreements |
| Subdivision 2: Proxies and Restrictions on Voting |
| Proxies |
| Restrictions on Voting |
| Subdivision 3: Directors and Officers |
| Duties |
| Qualification and Number — Directors |
| Election and Tenure — Directors |
| Incomplete Elections and Director Vacancies |
| Meetings of the Board |
| By-laws |
| Committees of the Board |
| Directors and Officers — Authority |
| Conflicts of Interest |
| Liability, Exculpation and Indemnification |
| Subdivision 4: Fundamental Changes |
| Amendments — Letters Patent |
| Amendments — By-laws |
| Amalgamation |
| Transfer of Business |
| Subdivision 5: Head Office and Corporate Records |
| Subdivision 6: Securities Registers |
| Subdivision 7: Corporate Name and Seal |
| Subdivision 8: Insiders |
| Subdivision 9: Prospectus |
| Subdivision 10: Compulsory Acquisitions |
| Subdivision 11: Trust Indentures |
| Subdivision 12: Financial Statements |
| Subdivision 13: Auditors |
| Interpretation |
| Appointment |
| Qualifications |
| Vacancies |
| Examinations and Reports |
| Qualified Privilege |
| Subdivision 14: Remedial Actions |
| Subdivision 15: Liquidation and Dissolution |
| Interpretation |
| Application |
| Simple Liquidation |
| Court-supervised Liquidation |
| Division 7: Ownership |
| Division 8: Business and Powers |
| Division 9: Investments |
| Interpretation |
| Investments |
| General Constraints on Investments |
| Subsidiaries and Equity Investments |
| Exceptions and Exclusions |
| Portfolio Limits |
| Commercial Lending |
| Real Property |
| Equities |
| Aggregate Limit |
| Miscellaneous |
| Division 10: Adequacy of Capital and Liquidity |
| Division 11: Regulation of Insurance Holding Companies |
| Supervision |
| Returns |
| Examination of Insurance Holding Companies |
| Remedial Powers |
| Prudential Agreements |
| Directions of Compliance |
| Disqualification and Removal of Directors or Senior Officers |
| PART XVIII: ADMINISTRATION |
| Notices and Other Documents |
| Approvals: Terms, Conditions and Undertakings |
| Orders and Directives |
| Applications to Superintendent |
| Appeals |
| Regulations |
| Delegation |
| PART XIX: SANCTIONS |
| SCHEDULE: CLASSES OF INSURANCE |