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Insurance Companies Act

Version of section 954 from 2012-05-24 to 2012-06-28:


Marginal note:Constraining registration — Crown and foreign governments

  •  (1) No insurance holding company shall record in its securities register a transfer or issue of any share of the insurance holding company to

    • (a) Her Majesty in right of Canada or of a province or any agent or agency of Her Majesty in either of those rights; or

    • (b) the government of a foreign country or any political subdivision thereof, or any agent or agency thereof.

  • Marginal note:Exception

    (2) Despite subsection (1), an insurance holding company may record in its securities register a transfer or issue of any share of the insurance holding company to a foreign institution that is controlled by the government of a foreign country or any political subdivision of a foreign country, or by any agent or agency of a foreign government, if the share that is transferred or issued is beneficially owned by the foreign institution or by an entity controlled by the foreign institution.

  • 2001, c. 9, s. 465
  • 2012, c. 5, s. 156

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