Marginal note:2001, c. 9, s. 227(2)

• 424. (1) Subsection 9(1.1) of the Act is replaced by the following:

  • Marginal note:Appointments by Minister

    (1.1) The Minister shall appoint three directors of the Association to hold office for a term of not more than three years.

• (2) Section 9 of the Act is amended by adding the following after subsection (1.2):

  • Marginal note:Continuation in office

    (1.3) If, on the expiry of the term of office of a director appointed under subsection (1.1), no new director is appointed, the director whose term of office expired may continue in office until a director is appointed under that subsection.

425. The Act is amended by adding the following after section 9:

426. Section 14 of the Act is replaced by the following:

Marginal note:2001, c. 9, ss. 231 and 232(E) and par. 245(a)(E)

427. Section 15 of the French version of the Act and the heading before it are replaced by the following:

Marginal note:2001, c. 9, par. 245(b)(E) and s. 246

428. Section 16 of the Act and the heading before it are replaced by the following:

Marginal note:2001, c. 9, s. 233

• 429. (1) Paragraph 18(1)(g) of the Act is replaced by the following:

  • (g) establishing penalties for any failure by members to comply with the by-laws, rules and orders made under the by-laws, including penalties that provide for the payment of interest or the making of restitution, and procedures in respect of the imposition of those penalties;

• (2) Subsection 18(1) of the Act is amended by striking out the word “and” at the end of paragraph (h) and by adding the following after paragraph (i):

  • (j) limiting the liability of the Association, its members, its employees and other persons for any loss or damage suffered by a member as a result of anything done or omitted to be done in good faith in the administration or discharge of any powers or duties that under a by-law or a rule are intended or authorized to be exercised or performed; and

  • (k) respecting the nomination, selection and appointment of persons to be members of the Stakeholder Advisory Council.

• (3) Subsection 18(2) of the Act is replaced by the following:

  • Marginal note:Approval

    (2) Subject to subsections (3) and (4), a by-law is not effective until approved by the Minister and when so approved must be published in the Canada Gazette and copies of the by-law must be sent to every member by the President.

• (4) Subsections 18(3) and (4) of the French version of the Act are replaced by the following:

  • Marginal note:Approbation des règlements administratifs imposant une amende

    (3) Avant d’être soumis à l’approbation du gouverneur en conseil, tout règlement administratif imposant une sanction doit d’abord être approuvé par les membres réunis en assemblée.

  • Marginal note:Vote relatif à un règlement administratif imposant une amende

    (4) Chaque membre a droit, au cours du vote tenu aux fins d’approuver par voie de résolution un règlement administratif imposant une sanction, à une voix pour chaque dollar de la cotisation que les règlements administratifs lui imposent de verser.

• 430. (1) Subsection 19(1) of the Act is amended by adding the following after paragraph (b):

  • (b.1) respecting the destruction of payment items;

• (2) Subsection 19(2) of the French version of the Act is replaced by the following:

  • Marginal note:Pouvoirs du président du conseil

    (2) Aux assemblées du conseil ou du comité de direction, le président du conseil tranche de façon définitive toute question soulevée visant à savoir si une règle projetée est conforme aux règlements administratifs.

• Marginal note:2001, c. 9, s. 234(2)

  (3) Subsection 19(3) of the Act is replaced by the following:

  • Marginal note:Rules to be available

    (3) The Association shall make a copy of every rule available to members in the manner determined by the President.

431. Subsections 20(2) and (3) of the French version of the Act are replaced by the following:

Marginal note:2001, c. 9, s. 238

432. Subsection 21.2(6) of the French version of the Act is replaced by the following:

433. Section 24 of the French version of the Act is replaced by the following:

434. The Act is amended by adding the following after section 47:

2001, c. 9Financial Consumer Agency of Canada Act

435. Section 18 of the Financial Consumer Agency of Canada Act is amended by adding the following after subsection (3):

436. Subsection 19(2) of the Act is replaced by the following:

437. Subsection 141(2) of the Act is repealed.

1992, c. 56Green Shield Canada Act

Marginal note:1996, c. 6, s. 165(2)

• 438. (1) The portion of subsection 17(1) of the Green Shield Canada Act is replaced by the following:

  Marginal note:Application of the Insurance Companies Act

  • 17. (1) Subject to any other provision of this Act, the following provisions of the Insurance Companies Act, together with any regulations made under or for the purposes of those provisions, apply to the Association, with any modifications that the circumstances require:

• Marginal note:1996, c. 6, s. 165(2)

  (2) Paragraph 17(1)(d) of the Act is replaced by the following:

  • (d) section 53, paragraphs 54(a) and (c), subsections 56(1) and 58(2), paragraphs 59(1)(b) and (c), subsections 59(2) to (6), 60(1) and (2) and 61(1), paragraph 62(1)(a) and subsections 62(2) to (5) of Part IV;

• Marginal note:2001, c. 9, s. 343(2)

  (3) Paragraph 17(1)(e) of the Act is replaced by the following:

  • (e) sections 160 to 162, paragraphs 165(2)(a) to (e), (h) and (i), sections 166 and 167, subsection 168(1), sections 170 to 172, subsections 174(1) and (3) to (6), 174(7) (except the reference in it to subsection 173(4)) and 175(1) and (4), sections 177 and 189 to 194, subsection 195(1), sections 196, 202 and 203, subsections 204(1) and (2), paragraphs 204(3)(a) to (c), subsections 204(4) to (6), sections 205 and 206, paragraphs 207(a), (b), (c), (h) and (i), sections 208 to 215, paragraphs 216(2)(d) and (e), subsections 217(1) and (2), paragraphs 217(3)(a) and (c), sections 218 to 223, 244, 254, 255 and 260, subsections 261(1) and (2) and 262(1) to (6), sections 266 to 268, paragraphs 269(a) and (b), sections 270, 278, 279 and 330, subsections 331(1) and (2), paragraphs 331(3)(b) and (c), subsections 331(4) and (6), sections 332 to 357 and 359.1 to 380, paragraph 381(1)(a), subsection 381(2) and sections 382 to 406 of Part VI;

• Marginal note:2001, c. 9, s. 343(3)

  (4) Paragraph 17(1)(f.1) of the Act is replaced by the following:

  • (f.1) paragraphs 165(2)(f) and (g) of Part VI and sections 479 to 489, 489.2 and 489.3 of Part VIII;

• Marginal note:2001, c. 9, s. 343(4)

  (5) Paragraph 17(1)(h) of the Act is replaced by the following:

  • (h) sections 515 and 517 of Part X; and

R.S., c. 28 (1st Supp.)Investment Canada Act

Marginal note:2001, c. 9, s. 589

• 439. (1) Paragraph 10(1)(h) of the Investment Canada Act is replaced by the following:

  • (h) any transaction to which Part XII.01 of the Bank Act applies;

• Marginal note:1991, c. 47, s. 735

  (2) Subparagraphs 10(1)(j)(ii) and (iii) of the Act are replaced by the following:

  • (ii) a foreign entity that has been approved by order of the Superintendent of Financial Institutions under Part XIII of the Insurance Companies Act to insure in Canada risks, on the condition that the gross investment revenue of the company from the Canadian business is included in computing the income of the company under subsection 138(9) of the Income Tax Act and the voting interests of the entity carrying on the Canadian business, or the assets used in carrying on the Canadian business, are vested in trust under that Part, or

  • (iii) a corporation incorporated in Canada, all the issued voting shares of which, other than the qualifying voting shares of directors, are owned by an insurance company described in subparagraph (i), a foreign entity described in subparagraph (ii) or by a corporation controlled directly or indirectly through the ownership of voting shares by such an insurance company or foreign entity, on the condition that, in the case of a foreign entity described in subparagraph (ii), the voting interests of the entity carrying on the Canadian business, or the assets used in carrying on the Canadian business, are vested in trust under Part XIII of the Insurance Companies Act; and