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(2) the exception
Paragraph 1 of this article shall not apply to the following situation
(a) can engage in reinsurance and cannot be engaged in insurance foreign companies,
(b) minister think other compensation plan already enough to satisfy the insurance compensation;
(c) in Canada accept insurance of fire insurance of risks in foreign company is a fire that members of the common fund;
(d) the foreign company is foreign friendly welfare societies, or two or more parties insurance exchange;
1991, C, 47, S, 591; 1996, C, 6, S, 86; 1997, C, 15, S, 305;
A single funds
592,, and the
For foreign life insurance company limited funds
Unless approved accept insurance risk in the life insurance, or, a foreign company shall not be
(a) to issue the policy in Canada;
(b) according to the holder of an insurance policy or beneficiary's guidance, and accept or retained the policy dividend or dividends, or accept insurance policy or transfer policy due, and life insurance insurant dies, deal with insurance policy gains. Foreign company and its accept insurance policy or retained amount depends on the responsibility of the specific property of the part as the market value of fund.
593,, and the
Need a single fund of the case
Foreign companies according to the provisions of article 592 of the issue an insurance policy, or "the retained amount according to accept or, it shall be the insurance policy or amount.
(a) set up separate account;
(b) to establish and maintain a one or more funds, as foreign companies in Canada part of property, and other property is divided in Canada. The amount shall bear the liability for compensation in accordance with the market price and determined.
594,, and the
According to the request of the single fund
According to the policy and according to the provisions of article 593 of the fund set up in Canada requirements of the claim, or for the establishment of fund amount of claim in any request priority for the fund property request, including according to "clean up and restructuring law" the 161th regulation request. But the fund specific and can be confirmed with the property as the real right of the guarantee of other accounts payable except.
1991, C, 47, S, 594; 1996, C, 6, S, 167; 1997, C, 15, S, 306;
595,, and the
The limits of the request
Foreign companies according to insurance policy in Canada for the compensation responsibility, or according to the provisions of article 593 of this set is the responsibility of the single fund amount,
(a) does not lead to the company in Canada to the request of other property, but if the fund property is not enough to meet the foreign company according to the amount of insurance policy or promises to cashout minimum, it would not be included;
(b) in the fund property is not enough to meet the claim that led to the foreign company in Canada to other property claim for damages, this claim request priority in according to the cleanup and restructuring law of paragraph 2 of article 161 of the provisions of the request.
1991, C, 47, S, 595; 1996, C, 6, S, 167;
reinsurance
596,, and the
(1) rules
Parliament speaker can is a foreign company in Canada to set the rules of the insurance policy, foreign companies to assume the risk of reinsurance limit on the range.
(2) according to the provisions of paragraph 1 of the regulations set by the competent people can can stipulate by authority decided to relevant matters or exercise of discretion to determine the rules.
597,, and the
(1) of the parties concerned about restrictive provisions
Except for the person to agree to the competent foreign company shall not reduce its risks insured in Canada and related to the company or the foreign company parties reinsurance.
(2) the meaning of the relevant parties
For the purpose of this article, the relevant parties with foreign company refers to relevant, according to the first part of the spirit of the parties X determined. The meaning with the situation need to make changes.
Borrowing costs
598,, and the
The definition of borrowing costs
For this article and article 599 and article 605 of the objective borrowing costs, it is to point to in the insurance policy to ensure the cash value or transfer loans or pay the advance payment,
(a) used for loans or prepaid style of interest or discount;
(b) by the borrower to foreign companies pay the related expenses, or by the borrower by foreign companies pay can directly or indirectly the fees of anyone associated costs, and the regulation belongs to the related expenses borrowing costs.
599,, and the
(1) disclosure borrowing costs-loans
Foreign company shall not reduce its loans to the natural person, in Canada should repay loans into the property in Canada. According to article 600 of this law unless calculation and said the borrowing costs, has by foreign companies or by the regulation to the way of law or to give loans to loan, before the disclosure to the borrower.
(2) shall not apply to the case
Paragraph 1 of this article shall not apply to the following situation
(a) to do real estate mortgage guarantee, the loans more than $250.000 or other provisions of the amount;
(b) not to do real estate mortgage guarantee, the loans more than $100.000 or other provisions of the amount;
(c) belong to the provisions of the loan category loans.
600,, and the
The calculation of borrowing costs
Shall, according to the borrower shall perform all of the obligation as to the method provided calculation borrowing costs; At the same time, the borrowing costs shall be the rate a year, said provisions in, can also said the dollars and cents.
601,, and the
Added disclosure
When foreign company to offer loans, and according to the provisions of article 599 of this information related to disclosure, and at the same time the loan must be determined in the future the date of repayment or in installments, the foreign company shall, according to the rules, to the borrower the following information disclosure:
(a) whether the borrower has the right of maturity in loan repay the loan, if have, revealed the following information:
(I) about the borrower may exercise the right of the details of the case;
(ii) in the borrower to exercise this right, part whether can be borrowing costs minus, the calculation method of the deduction of expenses, if the borrower will pay the cost or fine, show cost or fine calculation method.
(b) if the borrower loan expires in not repay the loan or not at a predetermined period to repay the loan installment, the disclosure by the borrower failed to repay the loan and loan contract according to need to pay the cost of the details of the or penalty.
602,, and the
Disclosure loan fees-the advance payment
To pay for the advance payment to ensure the borrowing costs for the insurance policy in Canada or the cash transfer value and the advance payment of the borrowing costs, the law has its way of disclosure rules, the foreign company shall not pay advance, and in accordance with the rules calculation and said that unless the borrowing costs have by foreign companies or by the regulation to the way of law in the forehead or pay to pay in advance before the insurance policy holder disclosure.
603,, and the
The borrowing costs of rules
Parliament speaker can make the following rules:
(a) involving foreign companies to disclose the borrower borrowing costs and borrowing costs minus the way and the rules of time;
(b) involves borrowing costs the rule of calculation method;
(c) involved in dollars and cents said the rules of the borrowing costs situation;
(d) sure this law shall not apply to paragraph 1 of article 599, or article 601, do not apply the above rules or not apply the terms of any given loan categories of rules;
(e) sure this law shall not apply to article 602, don't apply the rules do not apply any terms or designated the categories of advance payment rules;
(f) involved in article 599 of this law to the provisions of article 602 of any of the rights, obligations, expenses, fine, disclosure and disclosure rules of the way time;
(g) ban imposed stipulated in article 601 of this law or the cost of a fine rules, or in the can impose, make the cost or the maximum amount of fine determine the rules;
(h) involves borrowing costs minus calculation method of the rules, or involved in the first paragraph of article 601 of this a paragraph ii of the rules of minus share;
(I) of article 599 of this involved realize to the purpose of the article 602 to matters of the rules.
604,, and the
The procedures for dealing with complaints
(1) foreign company shall
(a) the establishment of a deal with the Canadian customers borrowing costs disclosure or calculation method proposed the procedure of complaints. The borrowing costs is to point to repay loans should be in Canada the borrowing costs, or pay for the advance payment and the guarantee for the insurance policy in Canada cash transfer value pay generated when the advance payment of the borrowing costs;
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