Vested Assets (Foreign Companies) Regulations (SOR/92-276)

Regulations are current to 2013-04-29

Vested Assets (Foreign Companies) Regulations

SOR/92-276

INSURANCE COMPANIES ACT

Registration 1992-05-14

Regulations Prescribing the Value of Assets to be Vested in Trust by a Body Corporate Incorporated Elsewhere than in Canada

P.C. 1992-1031  1992-05-14

His Excellency the Governor General in Council, on the recommendation of the Minister of Finance, pursuant to subsection 581(1) and section 703 of the Insurance Companies ActFootnote *, is pleased hereby to revoke the Deposits for Registration Order, C.R.C., c. 978, and to make the annexed Regulations prescribing the value of assets to be vested in trust by a body corporate incorporated elsewhere than in Canada in substitution therefor, effective June 1, 1992.

SHORT TITLE

1. These Regulations may be cited as the Vested Assets (Foreign Companies) Regulations.

GENERAL

2. For the purposes of paragraph 581(1)(a) of the Insurance Companies Act, the value of assets required to be vested in trust by a body corporate incorporated elsewhere than in Canada is, for each class of insurance risks that the body corporate proposes to insure that is set out in column I of an item of the schedule, the value set out in column II of that item.