Specialized Financing (Life Companies) Regulations

Marginal note:Definitions

• 1 (1) The following definitions apply in these Regulations.

  Act

  Loi

  Act means the Insurance Companies Act. (Loi)

  book value

  valeur comptable

  book value, in respect of the shares and ownership interests held by an entity, means the book value reported on the entity’s balance sheet on an unconsolidated basis. (valeur comptable)

  specialized financing entity of the life company

  entité de la société d’assurance-vie s’occupant de financement spécial

  specialized financing entity of the life company means a specialized financing entity that is controlled by the life company or in which the life company holds a substantial investment. (entité de la société d’assurance-vie s’occupant de financement spécial)

  subsidiary

  filiale

  subsidiary, in respect of a life company, does not include a subsidiary that is a specialized financing entity of the life company. (filiale)

• Definition of specialized financing entity

  (2) In these Regulations and for the purpose of the definition specialized financing entity in subsection 490(1) of the Act, specialized financing entity means an entity that acquires or holds shares of, or ownership interests in, entities that a life company may acquire control of, or hold, acquire or increase a substantial investment in, under subsection 493(4) of the Act.