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Insurance Companies Act

Version of section 618 from 2003-01-01 to 2009-12-31:
 


Marginal note:Limit on total property interest — foreign life companies

  • 618 (1) The total accepted value of interests in real property vested in trust by a foreign life company for the classes of life insurance and accident and sickness insurance, accident insurance, personal accident insurance and sickness insurance shall not at any time exceed 15 per cent of the value of the assets in Canada for those classes.

  • Marginal note:Limit on total property interest — foreign composite companies

    (2) The total accepted value of interests in real property vested in trust by a foreign life company for the classes of insurance other than life insurance and accident and sickness insurance, accident insurance, personal accident insurance and sickness insurance shall not at any time exceed 10 per cent of the value of the assets in Canada for those classes.

  • Marginal note:Limit on total property interest — foreign property and casualty companies

    (3) The total accepted value of interests in real property vested in trust by a foreign property and casualty company shall not at any time exceed 10 per cent of the value of the assets in Canada.


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