1 The following definitions apply in these Regulations.
- distribution
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distribution means
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(a) a trade by or on behalf of an insurance holding company in securities of the insurance holding company that have not previously been issued; or
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(b) a trade in previously issued securities of an insurance holding company from the holdings of any person or group of persons who act in concert and who hold in excess of 10% of the shares of any class of voting shares of the insurance holding company. (mise en circulation)
