Marginal note:Exception for small holdings
935 Despite section 934, if, as a result of a transfer or issue of shares of a class of shares of an insurance holding company to a person, the total number of shares of that class registered in the securities register of the insurance holding company in the name of that person
(a) would not exceed five thousand, and
(b) would not exceed 0.1 per cent of the outstanding shares of that class,
the insurance holding company is entitled to assume that no person is acquiring or increasing a significant interest in that class of shares of the insurance holding company as a result of that issue or transfer of shares.
- 2001, c. 9, s. 465
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