Insurance Companies Act (S.C. 1991, c. 47)

Act current to 2013-05-26 and last amended on 2012-12-19. Previous Versions

Marginal note:Notice of issue of letters patent

716. The Superintendent shall cause to be published in the Canada Gazette a notice of the issuance of letters patent incorporating an insurance holding company.

  • 1991, c. 47, s. 716;
  • 2001, c. 9, s. 465.
Marginal note:First directors

717. The first directors of an insurance holding company are the directors named in the application for letters patent to incorporate the insurance holding company.

  • 1991, c. 47, s. 717;
  • 2001, c. 9, s. 465.
Marginal note:Effect of letters patent

718. An insurance holding company comes into existence on the date provided therefor in its letters patent.

  • 1991, c. 47, s. 718;
  • 2001, c. 9, s. 465.

Continuance

Marginal note:Federal corporations

  • 719. (1) A body corporate incorporated under the Canada Business Corporations Act or any other Act of Parliament, including a company but not including a federal credit union, may apply to the Minister for letters patent continuing the body corporate as an insurance holding company under this Part.

  • Marginal note:Other corporations

    (2) A body corporate incorporated otherwise than by or under an Act of Parliament may, if so authorized by the laws of the jurisdiction where it is incorporated, apply to the Minister for letters patent continuing the body corporate as an insurance holding company under this Part.

  • 1991, c. 47, s. 719;
  • 2001, c. 9, s. 465;
  • 2010, c. 12, s. 2120.
Previous Version
Marginal note:Application for continuance

  • 720. (1) Where a body corporate applies for letters patent under subsection 719(1) or (2), sections 709 to 712 apply in respect of the application, with such modifications as the circumstances require.

  • Marginal note:Special resolution approval

    (2) Where a body corporate applies for letters patent under subsection 719(1) or (2), the application must be duly authorized by a special resolution.

  • Marginal note:Copy of special resolution

    (3) A copy of the special resolution referred to in subsection (2) shall be filed with the application.

  • 1991, c. 47, s. 720;
  • 2001, c. 9, s. 465.
Marginal note:Power to issue letters patent

  • 721. (1) On the application of a body corporate under subsection 719(1) or (2), the Minister may, subject to this Division, issue letters patent continuing the body corporate as an insurance holding company under this Part.

  • Marginal note:Issue of letters patent

    (2) Section 713 applies in respect of the issue of letters patent under subsection (1), with such modifications as the circumstances require.

  • 1991, c. 47, s. 721;
  • 2001, c. 9, s. 465.