Equity of an Insurance Company or Insurance Holding Company Regulations (SOR/2001-380)

Full Document:

Regulations are current to 2024-11-26

Equity of an Insurance Company or Insurance Holding Company Regulations

SOR/2001-380

Registration 2001-10-04

Equity of an Insurance Company or Insurance Holding Company Regulations

P.C. 2001-1751 2001-10-04

Her Excellency the Governor General in Council, on the recommendation of the Minister of Finance, pursuant to section 1021Footnote ^a of the Insurance Companies ActFootnote ^b, hereby makes the annexed Equity of an Insurance Company or Insurance Holding Company Regulations.

Marginal note:Equity

1 For the purposes of the Insurance Companies Act,

(a) the equity of a company is the sum of the shareholders’ equity of the company and the minority interests in entities controlled by the company, as they appear in the consolidated financial statements of the company; and
(b) the equity of an insurance holding company is the sum of the shareholders’ equity of the insurance holding company and the minority interests in entities controlled by the insurance holding company, as they appear in the consolidated financial statements of the insurance holding company.

Marginal note:Coming into force

Footnote ^*2 These Regulations come into force on the day on which section 1021 of the Insurance Companies Act, as enacted by section 465 of the Financial Consumer Agency of Canada Act, chapter 9 of the Statutes of Canada, 2001, comes into force.

Return to footnote ^*[Note: Regulations in force October 24, 2001, see SI/2001-102.]