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Investment Limits (Foreign Companies) Regulations (SOR/92-274)

Regulations are current to 2024-03-06 and last amended on 2010-01-01. Previous Versions

Investment Limits (Foreign Companies) Regulations

SOR/92-274

INSURANCE COMPANIES ACT

Registration 1992-05-14

Investment Limits (Foreign Companies) Regulations

P.C. 1992-1029  1992-05-14

His Excellency the Governor General in Council, on the recommendation of the Minister of Finance, pursuant to sections 616, 617 and 703 of the Insurance Companies ActFootnote *, is pleased hereby to make the annexed Regulations respecting investments in Canada by foreign companies, effective June 1, 1992.

 [Repealed, SOR/2009-296, s. 2]

Interpretation

 In these Regulations, Act means the Insurance Companies Act. (Loi)

Limits on Investment in Real Property

 For the purposes of section 618 of the Act, the prescribed percentage of the value of the assets in Canada is

  • (a) 15 per cent in the case of investment by a foreign life company for the classes of insurance referred to in subsection 618(1);

  • (b) 10 per cent in the case of investment by a foreign life company for the classes of insurance referred to in subsection 618(2); or

  • (c) 10 per cent in the case of investment by a foreign property and casualty company or a foreign marine company.

  • SOR/94-68, s. 1
  • SOR/94-687, s. 4
  • SOR/2009-296, s. 3

Limits on Investment in Equities

 For the purposes of section 619 of the Act, the prescribed percentage of the value of the assets in Canada is 25 per cent.

  • SOR/2009-296, s. 3
 

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