Insurance Companies Act

Marginal note:Regulations restricting ownership

501 The Governor in Council may make regulations

• (a) for the purposes of subsection 495(6), permitting the acquisition of control or the acquisition or increase of substantial investments, or prescribing the circumstances under which that subsection does not apply or the companies or other entities in respect of which that subsection does not apply, including prescribing companies or other entities on the basis of the activities they engage in;

• (b) for the purposes of subsection 495(7) or (8), permitting the acquisition of control or the acquisition or increase of substantial investments, or prescribing the circumstances under which either of those subsections does not apply or the companies or other entities in respect of which either of those subsections does not apply, including prescribing companies or other entities on the basis of the activities they engage in;

• (c) for the purposes of subsection 495(12), permitting a company to give up control of an entity;

• (d) restricting the ownership by a company of shares of a body corporate or of ownership interests in an unincorporated entity under sections 495 to 500 and imposing terms and conditions applicable to companies that own such shares or interests; and

• (e) for the purposes of subsection 495(2.1), establishing terms and conditions respecting the acquisition of control of, or the acquisition or increase of a substantial investment in, a permitted infrastructure entity by a life company.