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Insurance Companies Act

Version of section 622 from 2003-01-01 to 2007-04-19:

Marginal note:Exception

 A foreign company may vest in trust an asset if the asset was acquired through a transaction described in sections 522 to 533 and

  • (a) the transaction was entered into on terms and conditions that are at least as favourable to the foreign company as market terms and conditions, as defined in subsection 534(2); and

  • (b) the foreign company files a notice of the vesting with the Superintendent on vesting the asset in trust.

  • 1991, c. 47, s. 622
  • 1997, c. 15, s. 316

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