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Insurance Companies Act

Version of section 581 from 2012-05-24 to 2024-04-01:

Marginal note:Conditions for order

  •  (1) The Superintendent shall not make an order under subsection 574(1) in respect of a foreign entity until it has been shown to the satisfaction of the Superintendent that all relevant requirements of this Act have been complied with and that the foreign entity has

    • (a) vested in trust assets of at least five million dollars or any greater amount that the Superintendent specifies;

    • (b) appointed an actuary under section 623 and an auditor under section 633; and

    • (c) established its chief agency.

  • Marginal note:Conditions of order

    (2) The order may contain any conditions or limitations that are consistent with this Act and that the Superintendent considers appropriate.

  • 1991, c. 47, s. 581
  • 2005, c. 54, s. 299
  • 2007, c. 6, s. 265
  • 2012, c. 5, s. 144

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