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Insurance Companies Act

Version of section 462 from 2003-01-01 to 2007-04-19:

Marginal note:Transfers from participating account

 The only transfers that may be made from a participating account maintained pursuant to section 456 are

  • (a) transfers made pursuant to sections 461 and 463;

  • (b) transfers made in respect of transfers or reinsurance of all or any portion of the participating policies in respect of which the participating account is maintained;

  • (c) transfers, with the approval of the Superintendent, of amounts that can reasonably be attributed to sources not related to the participating policies in respect of which the account is maintained; and

  • (d) transfers made in respect of the conversion of a mutual company into a company with common shares.

  • 1991, c. 47, s. 462
  • 1997, c. 15, s. 252
  • 1999, c. 1, s. 8

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