Foreign Companies Prescribed Transactions Regulations
SOR/98-570
Registration 1998-11-19
Foreign Companies Prescribed Transactions Regulations
P.C. 1998-2045 1998-11-19
His Excellency the Governor General in Council, on the recommendation of the Minister of Finance, pursuant to subsection 587.1(3)Footnote a and section 703Footnote b of the Insurance Companies ActFootnote c, hereby makes the annexed Foreign Companies Prescribed Transactions Regulations.
Return to footnote aS.C. 1997, c. 15, s. 303
Return to footnote bS.C. 1997, c. 15, s. 330
Return to footnote cS.C. 1991, c. 47
General
1 For the purpose of subsection 587.1(3) of the Insurance Companies Act, reinsurance transactions entered into by a foreign company in the ordinary course of its business are transactions for which the approval of the Minister of Finance under subsection 587.1(2) of that Act is not required.
Coming into Force
2 These Regulations come into force on November 19, 1998.
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