Specialized Financing (Life Companies) Regulations

Marginal note:Definitions

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

  Act

  Act means the Insurance Companies Act. (Loi)

  balance sheet value

  balance sheet value, in respect of the shares and ownership interests held by an entity, means the value reported on its balance sheet on an unconsolidated basis. (valeur au bilan)

  book value

  book value[Repealed, SOR/2008-168, s. 15]

  specialized financing entity of the life company

  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

  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.