Insurance Companies Act

Marginal note:Public accountability statements

• 489.1 (1) A company with equity of $1 billion or more shall, in accordance with regulations made under subsection (4), annually publish a statement describing the contribution of the company and its prescribed affiliates to the Canadian economy and society.

• Marginal note:Filing

  (2) A company shall, at the prescribed time and place and in the prescribed form and manner, file a copy of the statement with the Commissioner.

• Marginal note:Provision of statement to public

  (3) A company shall, at the prescribed time and place and in the prescribed form and manner, disclose the statement to its customers and to the public.

• Marginal note:Regulations

  (4) The Governor in Council may make regulations prescribing

  • (a) the name, contents and form of a statement referred to in subsection (1) and the time and place at which and the manner in which it must be prepared;

  • (b) affiliates of a company referred to in subsection (1);

  • (c) the time and place at which and the form and manner in which a statement must be filed under subsection (2); and

  • (d) the time and place at which and the form and manner in which a statement mentioned in subsection (3) is to be disclosed, respectively, to a company’s customers and to the public.