Definitions
1 For the purposes of the Act,
(a) “base
capital” means
(i) shares that
(A) are non‑cumulative, non‑retractable,
non‑redeemable and, if convertible, are only convertible into common
shares, and
(B) have been issued and paid for,
(ii) contributed surplus, and
(iii) retained earnings;
(b) “total
assets” means total assets calculated by adding the book value of all assets on
an unconsolidated basis, and for that purpose book value must be calculated in
accordance with the principles, standards and practices in effect under section
219 of the Act.
Prescribed accident
benefits
2 The prescribed accident benefits for the
purposes of section 33 of the Act are the benefits provided for in section 629
of the Act or in regulations made under section 629(9)(c).
Prescribed entities
and benefits for s15, Act purposes
3(1) The
following are the prescribed entities for the purposes of section 15 of the
Act:
(a) an
employer with employees who are resident or employed in Alberta;
(b) an
association, or the trustees or the principals of an association, plan, trust
or fund, that provides the benefits referred to in subsection (2) to its
members or participants who are employees resident or employed in Alberta of
one or more employers that participate directly or indirectly in that
association, plan, trust or fund;
(c) any
combination of 2 or more persons referred to in clauses (a) and (b) or either
of them.
(2) The benefits prescribed for the
purposes of section 15 of the Act are any medical care or goods or services for
employees or former employees that are not provided under the Alberta Health
Care Insurance Act or are provided after the limits for that care or those
goods or services under the Alberta Health Care Insurance Act have been
reached.
AR 120/2001 s3;180/2001;287/2003
Prescribed benefits
for s15.1, Act purposes
3.1 The benefits prescribed for the purposes
of section 15.1(2) of the Act are
(a) any
short or long term income replacement benefits, and
(b) any benefits under a pension plan that is
registered under the Income Tax Act (Canada).
AR 287/2003 s3
Household appliance
insurance exemption
4(1) In this section,
(a) “household
appliance” includes home entertainment equipment and personal computers, but
does not include
(i) furnaces,
(ii) air conditioners,
(iii) hot water tanks, or
(iv) swimming pool heating units;
(b) “household
appliance insurance” means a contract of insurance that indemnifies a person
who has an interest in a household appliance against the appliance’s
malfunction, failure or breakdown.
(2) The
Act does not apply to household appliance insurance if the total consideration
payable for the insurance is $200 or less.
5 Repealed AR 91/2006 s2.
Calgary Real Estate
Board Critical Illness Society exemption
5.1(1) The Act does not apply to the benefits in
respect of critical illness provided under the by‑laws of the Calgary
Real Estate Board Critical Illness Benefit Society if
(a) the
members of the Society are notified within a reasonable time after the coming
into force of this section or becoming a member, as the case may be, that the
benefits are exempt from the Insurance
Act and that the members are not entitled to the same protections they
would be entitled to if the benefits were subject to the Act;
(b) the
constitution and by‑laws of the Society provide that
(i) the annual financial statements of the Society must be audited by
a chartered accountant, a certified management accountant or a certified
general accountant who is registered under the Regulated Accounting Profession Act, and
(ii) repealed AR 257/2005 s2;
(c) the
Society submits to the Superintendent of Insurance a copy of its audited
financial statements within a reasonable time after the end of the fiscal
period to which they relate.
(d) repealed
AR 257/2005 s2.
(2) Repealed AR 257/2005 s2.
AR 213/2001 s2;257/2005
Farm Implement Fund
exemption
5.2(1) The
Act does not apply to the Farm Implement Board or to the Fund that the Board
holds pursuant to the Farm Implement Act.
(2) The
Board must submit to the Superintendent of Insurance a copy of the Fund’s
audited financial statements within 60 days after the end of the fiscal year to
which the statements relate.
AR 374/2003 s2
Canadian Blood
Services Exemption
5.3(1) In
this section,
(a) “CBSE”
means Canadian Blood Services Captive Insurance Company Limited;
(b) “CBSI”
means Canadian Blood Services Insurance Company Limited;
(c) “contract”
includes an amendment or renewal of a contract.
(2) Contracts of insurance issued by
CBSI or CBSE before or after this section comes into force are exempt from the
application of the Act.
(3) The
exemption under this section is terminated if, at any time after this section
comes into force, CBSI or CBSE issues a contract of insurance to insure a risk
in Alberta that has not been approved in advance by the Superintendent of
Insurance.
AR 15/2007 s2
Definition of
financial institution
6(1) In this section,
(a) “foreign
financial institution” means an entity that is incorporated or formed other
than by or under an Act of the Parliament of Canada or of the legislature of a
province and that
(i) is engaged in the trust, loan or insurance business, the business
of a cooperative credit society or the business of dealing in securities, or
(ii) is otherwise generally engaged primarily in the business of
providing financial services;
(b) “securities
dealer” means a dealer within the meaning of the Securities Act.
(2) For
the purposes of the following provisions of the Act “financial institution”
includes a securities dealer and a foreign financial institution:
section
110(3)(b);
section
111(a), (c);
section
374(1)(b);
section
439(1)(c);
section
440(g), (j);
section
441(2).
(3) For
the purposes of the following provisions of the Act “financial institution”
includes a securities dealer:
section
309(3)(a), (c);
section
355(2).
(4) For
the purposes of section 415(a)(i)(F)(II) and (III) and (ii)(A)(I) and (III) of
the Act, “financial institution” includes a foreign financial institution.
Financial
responsibility cards
7(1) Where a licensed insurer issues a financial
responsibility card under section 822 of the Act, the insurer
(a) shall
provide a separate card in respect of each vehicle insured under the motor
vehicle liability policy,
(b) shall,
on the request of the insured, provide a copy of the card for each person who
commonly drives a vehicle insured under the motor vehicle liability policy, and
(c) shall,
on the request of the insured, provide a copy of any card issued within the
previous two years.
(2) For
the purposes of section 822(3) of the Act, when an owner’s policy is cancelled,
the insurer shall inform the former insured that
(a) it
is an offence to use or be in possession of a financial responsibility card or
a copy of a financial responsibility card relating to a motor vehicle liability
policy that has lapsed or been cancelled,
(b) it
is an offence to operate a motor vehicle that is not an insured motor vehicle,
and
(c) the
former insured is required by law to destroy the financial responsibility card
and every copy of the card issued to him.
(3) For
the purposes of section 822(3) of the Act, when an insurer gives a notice of
renewal in circumstances under which the renewal is conditional on the payment
of a further premium failing which the policy will lapse, be cancelled or not
be renewed, the insurer shall inform the insured in an attachment to the notice
that
(a) it
is an offence to use or be in possession of a financial responsibility card or
a copy of a financial responsibility card relating to a motor vehicle liability
policy that has lapsed or been cancelled,
(b) it
is an offence to operate a motor vehicle that is not an insured motor vehicle,
and
(c) the
insured is required by law to destroy the financial responsibility card and
every copy of the card issued to the insured when the insured ceases to
maintain the financial responsibility in respect of which the card was issued.
(4) A
power of attorney referred to in section 824(1)(b) of the Act must authorize
the Superintendent of Insurance to accept service of any notice or process for
the unlicensed insurer in any action or proceeding against it arising out of a
motor vehicle accident in Alberta.
(5) In
an undertaking referred to in section 824(1)(b) of the Act, the unlicensed
insurer shall undertake
(a) to
appear in any action or proceeding against it or its insured arising out of a
motor vehicle accident in Alberta, and of which it has knowledge,
(b) on
receipt from the Superintendent of Insurance of any notice or process referred
to in subsection (4), to forthwith cause the notice or process to be served on
its insured,
(c) not
to set up to any claim, action or proceeding under a motor vehicle liability policy
issued by it any defence that it would be prevented from setting up if the
policy had been issued in Alberta in accordance with the law of Alberta
relating to motor vehicle liability policies, including any defence as to the
limit or limits of liability and prescribed accident benefits, and to satisfy
up to the limits of liability stated in the policy and, in any event, to an
amount not less than the limits of liability fixed in Part 5, Subpart 5 of the
Act, any judgment rendered against it or its insured by a court in Alberta
which has become final in any such action or proceeding, and
(d) not
to issue Canada non‑resident interprovince motor vehicle liability
insurance cards to persons other than persons who are non‑residents of
Canada and who are insured with the unlicensed insurer under a contract of
motor vehicle liability insurance.
(6) For
the purpose of section 825 of the Act, the following are prescribed
corporations:
(a) a
corporation that has entered into an agreement or arrangement with the Minister
pursuant to section 76(10) of the Financial Administration Act for the
purpose of satisfying liabilities that the corporation may incur resulting from
bodily injury to or the death of any person or damage to property occasioned by
or arising out of the ownership, operation or use of a motor vehicle;
(b) a
municipal corporation in Alberta that has the power to access and collect
property taxes under the Municipal Government Act.
(7) Where
the Superintendent of Insurance issues a financial responsibility card to a
corporation under section 825 of the Act, the Superintendent of Insurance
(a) shall
provide a separate card in respect of each motor vehicle registered in the name
of the corporation,
(b) shall,
on the request of the corporation, provide a copy of the card for each person
who commonly drives a motor vehicle registered in the name of the corporation,
and
(c) shall, on the request of the corporation,
provide a copy of any card previously issued to the corporation.
AR 120/2001 s7;91/2006;15/2007
8 Repealed AR 374/2003 s3.
Repeal
9(1) The Exemption
Regulation (AR 287/96) is repealed.
(2) The
Definition of Capital Regulation
(AR 286/96) is repealed.
Expiry
10 For the purpose of ensuring
that this Regulation is reviewed for ongoing relevancy and necessity, with the
option that it may be repassed in its present or an amended form following a
review, this Regulation expires on April 30, 2016.
AR 120/2001 s10;91/2006
Coming into force
11 This Regulation comes into force on the
coming into force of any provision of the Insurance
Act (SA 1999 cI‑5.1).
