Insurance Companies Act
Marginal note:Refusal of proposal
148 (1) If a company refuses to attach a proposal to the notice of the meeting, the company shall, within ten days after receiving the proposal, notify the shareholder or policyholder submitting the proposal of its intention not to attach the proposal to the notice of the meeting and send to the shareholder or policyholder a statement of the reasons for the refusal.
Marginal note:Appeal to court
(2) On the application of a shareholder or policyholder claiming to be aggrieved by a company’s refusal under subsection (1), a court may restrain the holding of the meeting at which the proposal is sought to be presented and make any further order it thinks fit.
(3) A company or any person claiming to be aggrieved by a proposal may apply to a court for an order permitting the company not to attach the proposal to the notice of the meeting, and the court, if it is satisfied that subsection 147(5) applies, may make such order as it thinks fit.
Marginal note:Notice to Superintendent
(4) An applicant under subsection (2) or (3) shall give the Superintendent written notice of the application and the Superintendent may appear and be heard at the hearing of the application in person or by counsel.
- Date modified: