Marginal note:Disqualified persons
797 The following persons are disqualified from being directors of an insurance holding company:
(a) a person who is less than eighteen years of age;
(b) a person who is of unsound mind and has been so found by a court in Canada or elsewhere;
(c) a person who has the status of a bankrupt;
(d) a person who is not a natural person;
(e) a person who is prohibited by subsection 793(7) or section 945 or 955 from exercising voting rights attached to shares of the insurance holding company;
(f) a person who is an officer, director or full-time employee of an entity that is prohibited by subsection 793(7) or section 945 or 955 from exercising voting rights attached to shares of the insurance holding company;
(g) a person who is an agent or employee of Her Majesty in right of Canada or in right of a province;
(h) a minister of Her Majesty in right of Canada or in right of a province; and
(i) a person who is an agent or employee of the government of a foreign country or any political subdivision thereof.
- 2001, c. 9, s. 465
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