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Insurance Companies Act

Version of section 247 from 2003-01-01 to 2007-04-19:

Marginal note:Approval of agreement by Minister

  •  (1) An amalgamation agreement shall be submitted to the Minister for approval. Any approval of the agreement under subsection 248(5) by the shareholders, policyholders or members of an applicant is invalid unless, before the date of the approval, the Minister approves the agreement in writing.

  • Marginal note:Report of independent actuary

    (2) An amalgamation agreement submitted to the Minister for approval must be accompanied by the report of an independent actuary on the agreement.

  • 1991, c. 47, s. 247
  • 1997, c. 15, s. 220(E)

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