Insurance Companies Act

Marginal note:Mandatory solicitation

• 788 (1) Subject to subsections (2) and 768(2), the management of an insurance holding company shall, concurrently with sending notice of a meeting of shareholders, send a form of proxy that is in accordance with the regulations to each shareholder entitled to receive notice of the meeting under section 767.

• Marginal note:Exception

  (2) The management of an insurance holding company is not required to send a form of proxy under subsection (1) if the insurance holding company

  • (a) is not a distributing insurance holding company; and

  • (b) has 50 or fewer shareholders who are entitled to vote at a meeting, two or more joint holders of a share being counted as one shareholder.