Investment Limits (Insurance Holding Companies) Regulations

Marginal note:Definitions

1 The following definitions apply in these Regulations.

Act

Act means the Insurance Companies Act. (Loi)

designated entity

designated entity means an entity other than

• (a) a joint venture;

• (b) an insurance company;

• (c) a securities dealer; or

• (d) a subsidiary of an insurance company or securities dealer. (entité désignée)

insurance company

insurance company means an insurance company that is incorporated by or under the laws of Canada or a province. (société d’assurances)

joint venture

joint venture means a real property entity

• (a) that was formed by an insurance holding company, or by a designated entity controlled by an insurance holding company, and one or more other persons for the purpose of a specific business undertaking;

• (b) in which the insurance holding company or designated entity has a substantial investment; and

• (c) in respect of which the persons who formed it have agreed on joint control, regardless of the distribution of their equity. (coentreprise)

minority interest

minority interest means an equity interest, in an entity that is controlled by an insurance holding company, that is held by a person other than

• (a) the insurance holding company; or

• (b) an entity controlled by the insurance holding company. (participation minoritaire)

real property entity

real property entity means an entity that is primarily engaged in holding, managing or otherwise dealing with

• (a) real property;

• (b) shares of a body corporate that is primarily engaged in holding, managing or otherwise dealing with real property, including shares of a body corporate that is another real property entity; or

• (c) ownership interests in an unincorporated entity that is primarily engaged in holding, managing or otherwise dealing with real property, including ownership interests in an unincorporated entity that is another real property entity. (entité immobilière)

related real property entity

related real property entity, in respect of an insurance holding company, means

• (a) a real property entity, other than a designated entity controlled by the insurance holding company, in which the insurance holding company or a designated entity controlled by the insurance holding company beneficially owns sufficient shares or ownership interests to cause the insurance holding company or designated entity to have a substantial investment in the real property entity; or

• (b) a real property entity that is controlled by a real property entity described in paragraph (a). (entité immobilière apparentée)

securities dealer

securities dealer means an entity described in paragraph (g) of the definition financial institution in subsection 2(1) of the Act. (négociant en valeurs mobilières)

third party

third party, in respect of an insurance holding company, means a person other than

• (a) the insurance holding company;

• (b) a designated entity controlled by the insurance holding company; or

• (c) a related real property entity of the insurance holding company. (tierce partie)