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The announcement of mean notice
Submit relevant in paragraph 1 of article 579 of this before applying to become legal person shall charge the way, in the Canadian gazette and the legal person in Canada's main agency is located near the circulation or local public announcement on a newspaper to make the meaning of its application, shall be for four weeks, at least once a week.
581,, and the
(1) to make a decision on approval of conditions
Only legal person meet the following conditions, the talented person can according to make this part of the command, approved legal person is engaged in insurance,
(a) the legal person of the existing trust property to the value of the law;
(b) the legal person already according to the provisions of article 623 in Canada for the insurance business appointed an actuary, according to the provisions of article 633, the auditor appointment.
(c) the legal person has as its main agency determined the fixed place.
At the same time, all other related requirement this law has been abide by.
(2) make a decision on approval to conditions
A foreign company approved in Canada are engaged in insurance commands can be included with this law is consistent and competent people think the right, and foreign companies engaged in insurance business in Canada related conditions and limitations.
(3) transitional terms
Already according to the foreign insurance company law article 7 or the provisions of article 25, or according to the Canadian and British insurance company law article 196 or article 219 of the act, the total property to GuanLiGuan deposit deposit foreign companies, in this article shall come into force, the parliamentary speaker sure within the time, apply for a refund of the deposit.
(4) in Canada's property
Article 3 in paragraph deposit was considered the foreign companies in Canada's property component, until the return to deposit the deposits of the foreign company.
582,
(1) allow bond
According to the provisions of article 581, paragraph 1 of the first item a regulation, legal person of the trust property acquired can form the mortgage bond, or by the Canadian or a state guarantee, as a deposit.
(2) other allow bond
The trust property acquired can also set up according to the supervisor of the conditions and competent people accept the value of other margin.
583,, and the
The content of the approval to
In a foreign company approved by the orders of the engaged in insurance in Canada, the following items should be specified:
(a) the foreign company engaged in the name used for insurance,
(b) the effective date of this order,
(c) the foreign company shall have the right to accept insurance risk category,
(d) this law and consistent and competent people think the right, on the foreign company in Canada is in the insurance business conditions or restrictions.
584,, and the
(1) a public announcement
Received approval for its in Canada in the command of the insurance, the foreign company shall, in the main agency orgnaization seat or near the newspaper circulation located about has been made to order issued by the announcement.
(2) the Canadian bulletin of the public announcement
The supervisor should therefore in the Canadian communique issued under paragraph 1 of this article on the relevant command already make a public announcement.
585,, and the
The release of the list
Every quarter, the supervisor should be in the Canadian bulletin published on
(a) the list of foreign companies;
(b) the approval of the competent people of risks insured foreign company in order to determine the list of various kinds of risks;
(c) foreign company main agent lists;
(d) the foreign company main agency location list.
586,, and the
(1) change
Foreign company in Canada for approval in the command of the insurance, the competent people can at any time to further orders
(a) sure foreign company shall have the right to accept insurance of other kinds of risks;
(b) regulation conditions or restrictions. These conditions or restrictions are consistent with this law, and foreign companies engaged in the insurance business in Canada studies, and competent people think appropriate.
(c) modify or abolished the command authorization or command must follow any conditions or restrictions.
But to make any further orders before, the supervisor should give foreign companies should further orders the opportunity to make statements.
(2) to (6) [has been abolished, 1996, C, 6, S, 85]
1991, C, 47, S; 586; 1996, C, 6, S, 85;
587,, and the
The main agent or main agency change
Foreign company changes the main agent or main agency address, it shall make changes in immediately after the appointment of the new main agent submitted the agency materials, or contain agency of the new address material.
587.1 (1) limit of the trade
In addition to according to the provisions of this section, the foreign company shall not
(a) all or part of the transfer of the insurance policy in Canada, or to the bear and in Canada on the policy of all or part of the risk for reinsurance.
(b) any legal in Canada for all or part of the insurance policy, to purchase or reinsurance.
(1.1) ruled out of the ordinary reinsurance
Paragraph 1 shall not apply to foreign companies in daily business process in reinsurance.
(2) the minister's approval
Approved by the minister, foreign companies can
(a) to another shall have the right to accept the transfer of the company, corporation or foreign company in Canada to transfer its all or part of the insurance policy, or will the bear, and in Canada on the policy of all or part of the risk to another company, corporation or has the right to foreign company for reinsurance.
(b) according to established by state law and shall have the right to engage in any of the legal person of insurance shall, in Canada and the relevant policy all or part of the risk compensation for reinsurance.
(c) to any legal in Canada all or part of the insurance policy to purchase or reinsurance.
(3) regulation of the trade
Described in paragraph 2 of the trade if's the law of trading or belongs to a kind of provisions of the deal, is not required to get the approval of the secretary.
1997, C, 15, S, 303; 1999, C, 1, S, 9;
All kinds of insurance
588,, and the
(1) for the reinsurance restrictions
The competent people to listed in the approval, the foreign company engaged in insurance in Canada in order to determine the risk, a foreign company can undertake reinsurance, but the command to the foreign companies engaged in reinsurance limited except.
(2) in the registration certificate of the conditions of the last
According to the foreign insurance company law or the Canadian and British insurance company law and the provisions of the first Ⅷ part of the registration certificate issued by the authorized or any other wrote, of foreign companies reinsurance make restrictive conditions, in this part before expiration of the effect is not or have not been withdrawn, can be seen as competent people, foreign companies engaged in the approval of the insurance in the conditions stipulated in the command.
589,, and the
Foreign companies have a compound banned
If the competent people release or change commands, to foreign company in Canada approved engaged in insurance, will lead to the foreign company is able to cover all kinds of risks in life insurance, and can accept insurance except the accident and disease insurance, accident insurance and personal accident insurance, disease insurance and unemployment insurance other than the risk insurance categories, then, the supervisor shall not publish or change orders.
1991, C, 47, S, 589; 1997, C, 15, S, 304.
590, (1) for complex foreign company reserves
Despite the provisions of article 589 of this law, the provisions of article 576 and paragraph 4 of article 588 (2 can still allow foreign company in Canada is accept insurance of life insurance risk of of all kinds, and accept insurance except the accident and disease insurance, accident insurance and personal accident insurance and disease insurance other than the risk insurance categories.
(2) individual life insurance account set up
Under paragraph 1 of this article shall be foreign company life insurance, accidents and disease insurance of risks in insurance, set up account and funds alone, and for other insurance all kinds of risk insurance coverage of the account set up separate.
591,, and the
(1) compensation association
Every one in Canada has not paying insurance policy of foreign company shall join a minister of insurance and ordered according to specified any compensation association, as its members.
(1.1) of the specified limit
Only minister think compensation of the association has the right to not less than 85 members collection share expenses, the cost for each member of the insurance premium income in an average of one percent, and the cost compensation for damages association as enough breaking, can according to the provisions of paragraph 1 of designated compensation association.
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