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Insurance Companies Act

Version of section 619 from 2003-01-01 to 2009-12-31:


Marginal note:Limit on equity acquisitions — foreign life companies

  •  (1) The total accepted value of the participating shares, within the meaning of Part IX, of any body corporate and any ownership interests, howsoever designated, in any unincorporated entities 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 25 per cent of the value of the assets in Canada for those classes.

  • Marginal note:Limit on equity acquisitions — foreign composite companies

    (2) The total accepted value of the participating shares, within the meaning of Part IX, of any body corporate and any ownership interests, howsoever designated, in any unincorporated entities 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 25 per cent of the value of the assets in Canada for those classes.

  • Marginal note:Limit on equity acquisitions — foreign property and casualty companies

    (3) The total accepted value of the participating shares, within the meaning of Part IX, of any body corporate and any ownership interests, howsoever designated, in any unincorporated entities vested in trust by a foreign property and casualty company shall not at any time exceed 25 per cent of the value of the assets in Canada.

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