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

Marginal note:Appeal of final order

• 1032 (1) An appeal lies to the court of appeal of a province from any final order made by a court of that province under this Act.

• Marginal note:Appeal with leave

  (2) An appeal lies to the court of appeal of a province from any order, other than a final order made by a court of that province, only with leave of the court of appeal in accordance with the rules applicable to that court.

Marginal note:Recovery and application of fines

1033 All fines payable under this Act are recoverable and enforceable, with costs, at the suit of Her Majesty in right of Canada, instituted by the Attorney General of Canada, and, when recovered, belong to Her Majesty in right of Canada.

[Note: Sections 712 to 763, enacted by 1991, c. 47 have been replaced with provisions enacted by 2001, c. 9, s. 465.]

— 1991, c. 47, s. 763 read as follows:

• Coming into force

  Footnote ^*(1) Subject to subsection (2), this Act or any Part thereof, other than subsections 702(4), 713(2), 715(2), 716(2), 719(3), 720(2), 721(2), 722(2), 723(2) and (4), 724(2), 725(2), 726(2), 727(2), 736(2), 742(2), 743(2) and (4), 745(2) and 746(2) and sections 753 to 760, shall come into force on a day or days to be fixed by order of the Governor in Council.

• Idem

  (2) Subsections 268(1) and (2) shall come into force on the day that is six months after the coming into force of section 261.

• Return to footnote ^*[Note: Act, except the provisions set out in section 763, in force June 1, 1992, see SI/92-91.]

PART XXDocuments in Electronic or Other Form

Marginal note:Definitions

1034 The following definitions apply in this Part.

electronic document

electronic document means, except in section 1043, any form of representation of information or concepts that is fixed in any medium in or by electronic, optical or other similar means and that can be read or perceived by a person or by any means. (document électronique)

information system

information system means a system used to generate, send, receive, store or otherwise process an electronic document. (système de traitement de l’information)

NI 51-102

NI 51-102 in respect of a province set out in column 1 of Table 1 of Schedule V to the Bank Act, means the version of National Instrument 51-102 referred to in column 2. (Règlement 51-102)

NI 54-101

NI 54-101 in respect of a province set out in column 1 of Table 1 of Schedule V to the Bank Act, means the version of National Instrument 54-101 referred to in column 2. (Règlement 54-101)

Marginal note:Application

1035 This Part other than sections 1046 and 1047 does not apply in respect of any notice, document or other information that under this Act or the regulations is sent to or issued by the Minister, the Superintendent or the Commissioner or any prescribed notice, document or information.

Marginal note:Use not mandatory

1036 Nothing in this Act or the regulations requires a person to create or provide an electronic document.

Marginal note:Consent and other requirements

• 1037 (1) Despite anything in this Part, but subject to subsections (3) to (5), a requirement under this Act or the regulations to provide a notice, document or other information is not satisfied by providing an electronic document unless

  • (a) the addressee consents and designates an information system for the receipt of the electronic document;

  • (b) the electronic document is, unless otherwise prescribed, provided to the designated information system; and

  • (c) the prescribed requirements are complied with.

• Marginal note:Consent and notice in electronic form

  (1.1) Despite subsection (1), the requirements referred to in paragraph (1)(c) may provide that the consent referred to in paragraph (1)(a) and any notice related to that consent may be provided in electronic form.

• Marginal note:Regulations — revocation of consent

  (2) The Governor in Council may make regulations respecting the revocation of the consent referred to in paragraph (1)(a).

• Marginal note:Notice-and-access — distributing companies

  (3) Subsection (1) does not apply in respect of the provision of a document or other information, including a proxy circular, to shareholders of a distributing company or of a distributing insurance holding company for use in connection with a meeting for which notice referred to in subsection 143(1) or 767(1) is sent if

  • (a) a notice of availability of documents or other information for use in connection with the meeting is sent in accordance with the rules governing notice-and-access set out in NI 51-102 or NI 54-101;

  • (b) the notice is accompanied by any form of proxy and written request for voting instructions that are required to be sent under this Act; and

  • (c) the document or other information is made available as an electronic document in accordance with the rules governing notice-and-access set out in NI 51-102 or NI 54-101.

• Marginal note:Policyholders

  (4) Subsection (1) does not apply in respect of the provision of a document or other information, including a proxy circular, to policyholders of a distributing company for use in connection with a meeting for which notice referred to in subsection 143(1) is sent if

  • (a) a notice of availability of documents or other information for use in connection with the meeting is sent to the policyholders that contains only

    • (i) the time and place of the meeting,

    • (ii) a statement that the documents or other information for use in connection with the meeting are available as electronic documents on the website of the company,

    • (iii) the address of the website of the company on which the documents or other information are available,

    • (iv) a statement that no paper copies of any document or other information for use in connection with the meeting will be sent unless they are requested,

    • (v) instructions on how to request the paper copies,

    • (vi) a description of the matters to be voted on during the meeting, and

    • (vii) a description of the voting procedures;

  • (b) the notice is accompanied by any form of proxy that is required to be sent under this Act; and

  • (c) the document or other information is made available to policyholders as an electronic document on the website of the company.

• Marginal note:Notice-and-access — companies that are not distributing

  (5) Subsection (1) does not apply in respect of the provision of a document or other information, including a proxy circular, to shareholders or policyholders of a company that is not a distributing company or of an insurance holding company that is not a distributing insurance holding company for use in connection with a meeting for which notice referred to in subsection 143(1) or 767(1) is sent if

  • (a) a notice of availability of documents or other information for use in connection with the meeting is sent to the shareholders or policyholders that contains only

    • (i) the time and place of the meeting,

    • (ii) a statement that the documents or other information for use in connection with the meeting are available as electronic documents on the website of the company or insurance holding company,

    • (iii) the address of the website of the company or insurance holding company on which the documents or other information are available,

    • (iv) a statement that no paper copies of any document or other information for use in connection with the meeting will be sent unless they are requested,

    • (v) instructions on how to request the paper copies,

    • (vi) a description of the matters to be voted on during the meeting, and

    • (vii) a description of the voting procedures;

  • (b) the notice is accompanied by any form of proxy and written request for voting instructions that are required to be sent under this Act; and

  • (c) the document or other information is made available to shareholders or policyholders as an electronic document on the website of the company or insurance holding company.

• Marginal note:Documents available on website

  (6) For the purposes of paragraphs (4)(c) and (5)(c), a document or other information is considered to be available as an electronic document only if

  • (a) it is available on the website on or before the day on which the notice referred to in paragraph (4)(a) or (5)(a) is sent;

  • (b) it remains available on the website for at least one year; and

  • (c) it is in an accessible, printable and searchable format.

• Marginal note:Requests for paper copies

  (7) On the request of a policyholder of a distributing company or of a shareholder or policyholder of a company that is not a distributing company or of an insurance holding company that is not a distributing insurance holding company, paper copies of the following documents or other information must be sent by prepaid mail addressed to, or delivered personally to, the policyholder or shareholder at their latest address as shown in the records of the company or insurance holding company, or of its transfer agent:

  • (a) any document or other information made available under subsection (4) or (5) before the request is made; or

  • (b) all documents and other information made available under subsection (4) or (5) after the request is made.

• Marginal note:Documents already made available

  (8) A document or other information referred to in paragraph (7)(a) must be sent or delivered

  • (a) within three business days after the day on which the request is received, if it is received before the day of the meeting; or

  • (b) within 10 days after the day on which the request is received, if it is received on or after the day of the meeting.

• Marginal note:For greater certainty

  (9) For greater certainty, a document or other information that is required under this Act or the regulations to be sent to a specific place and that is made available under paragraph (3)(c), (4)(c) or (5)(c) is not required to be sent to an information system designated by the addressee.

Marginal note:Creation or provision of information

1038 A requirement under this Act or the regulations to create or provide a notice, document or other information is satisfied by creating or providing an electronic document if

• (a) the incorporating instrument or by-laws of the company, insurance holding company, foreign company, society or provincial company, as the case may be, do not provide otherwise; and

• (b) the prescribed requirements are complied with.

Marginal note:Creation of information in writing

1039 A requirement under this Act or the regulations to create a notice, document or other information in writing is satisfied by creating an electronic document if in addition to the conditions set out in section 1038

• (a) the information in the electronic document is accessible so as to be usable for subsequent reference; and

• (b) the prescribed requirements are complied with.

Marginal note:Provision of information in writing

1040 A requirement under this Act or the regulations to provide a notice, document or other information in writing is satisfied by providing an electronic document if in addition to the conditions set out in section 1038

• (a) the information in the electronic document is accessible by the addressee and capable of being retained by them so as to be usable for subsequent reference; and

• (b) the prescribed requirements are complied with.

Marginal note:Multiple copies

1041 A requirement under this Act or the regulations to provide two or more copies of a document at the same time to one addressee is satisfied by providing one copy of the electronic document.

Marginal note:Registered mail

1042 A requirement under this Act or the regulations to provide a document by registered mail is not satisfied by providing an electronic document except in the prescribed circumstances.

Marginal note:Statutory declarations and affidavits

• 1043 (1) A statutory declaration or affidavit required under this Act or the regulations may be created or provided in an electronic document if

  • (a) the person who makes the statutory declaration or affidavit signs it with their secure electronic signature;

  • (b) the authorized person before whom the statutory declaration or affidavit is made signs it with their secure electronic signature; and

  • (c) the requirements of sections 1036 to 1042 are complied with.

• Marginal note:Definitions

  (2) For the purposes of this section, electronic document and secure electronic signature have the same meaning as in subsection 31(1) of the Personal Information Protection and Electronic Documents Act.

• Marginal note:References to “electronic document”

  (3) For the purpose of complying with paragraph (1)(c), references to electronic document in sections 1036 to 1042 are to be read as references to “electronic document within the meaning of subsection 31(1) of the Personal Information Protection and Electronic Documents Act”.

Marginal note:Signatures

1044 A requirement under this Act or the regulations for a signature or for a document to be executed, except in respect of a statutory declaration or affidavit, is satisfied in respect of an electronic document if the prescribed requirements are complied with and the signature results from the application by the person of a technology or process that permits the following to be proved:

• (a) the signature resulting from the use by the person of the technology or process is unique to the person;

• (b) the technology or process is used by the person to incorporate their signature into, attach it to or associate it with the electronic document; and

• (c) the technology or process can be used to identify the person using the technology or process.