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Prescribed Group of Consumers Regulations (SOR/2008-167)

Regulations are current to 2022-09-22 and last amended on 2008-05-19. Previous Versions

Prescribed Group of Consumers Regulations

SOR/2008-167

INSURANCE COMPANIES ACT

Registration 2008-05-15

Prescribed Group of Consumers Regulations

P.C. 2008-947 2008-05-15

Her Excellency the Governor General in Council, on the recommendation of the Minister of Finance, pursuant to subsection 1021(1)Footnote a of the Insurance Companies ActFootnote b, hereby makes the annexed Prescribed Group of Consumers Regulations.

Prescribed Group of Consumers

 For the purposes of sections 489.3 and 607.2 of the Insurance Companies Act, the following group of consumers is prescribed:

  • (a) any individual; and

  • (b) any entity, other than a financial institution, that is engaged in a business, that employs fewer than 500 employees and that has a gross annual revenue that does not exceed $ 50 million.

Coming into Force

Footnote * These Regulations come into force on the day that section 232 of An Act to amend the law governing financial institutions and to provide for related and consequential matters, being chapter 6 of the Statutes of Canada, 2007, comes into force or, if it is later, on the day on which it is registered.

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