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Insurance Companies Act

Version of section 597 from 2003-01-01 to 2009-12-31:


Marginal note:Restriction re related parties

  •  (1) Except with the approval of the Superintendent, a foreign company shall not cause itself to be reinsured in respect of risks in Canada undertaken by it by a related party of the foreign company that is not a company or a foreign company.

  • Marginal note:Meaning of “related party”

    (2) For the purposes of this section, related party, in relation to a foreign company, means a related party within the meaning of Part XI, with such modifications as the circumstances require.

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