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(b) outside Canada, site of rent or real estate mortgage;
(c) in any entity, in any way, in the number of designated to constitute the entity to the substantial investment shares and ownership interest, though shares and ownership interest was held by other entity;
(d) for purchase, repair or improve the property of the residence in Canada and in Canada on loan, and in the loan, the loan amount and at that time not yet realize, the house property to have equal claim or priority of the mortgage amount more than 75% of the property value in the house.
(2) the exception
Despite the paragraph 1 of the first item a and c and paragraph, foreign companies still can be in accordance with article 490, paragraph 1 of the act, a real estate company to have substantial investment trust shares to obtain.
(3) the exception
Despite the paragraph 1 of the first paragraph d, foreign companies can still on the following loans or securities trust made;
(a) according to the national housing law to make loans or provide guarantee loans, or parliament, according to make any other for foreign loans to companies and the property value for different restriction laws make loans or provide guarantee the loan;
(b) amount is more than paragraph 1 of the maximum amount listed, but the government agencies or approved by the competent people insured for its pay private has provided guarantee or insurance the loan;
(c) by an entity issue or to provide guarantee securities, and the stock has made by shelter property security. This stock is beneficial to the agent, or the securities issuance of whether and foreign companies to provide to the entity that is contrary to the loans, are not in.
investment
Definition and applicable
613,, and the
"Commercial loan" definition
Article 620 the provisions of article 615 of the "commercial loan" with the first part IX of commercial loan has the same meaning.
614,
(1) shall not apply to the case
The provisions of article 612 and article 615 and article 620 of this law shall not apply to according to the provisions of article 593 of the fund established single property.
(2) a single fund property and liability is excluded
The provisions of article 615 and article 620 of the foreign companies referred to in the Canadian property or responsibility not to include
(a) according to the provisions of article 593 of this single set up fund property
(b) the responsibility of insurance policy for foreign companies and for the amount of responsibility.
The general restrictions on investment
615,, and the
(1) investment standards
Foreign company shall be the property in Canada making investment and loan scheme, standards and procedures and to comply with, make reasonable prudent man application of these schemes, standards and procedures for investment and loan portfolio can avoid not appropriate the risk of loss and gain a reasonable return.
(2) the resolutions of the board of directors
This law is applicable to the provisions of paragraph 4 of article 573 of the foreign company shall take effect from the part after 90 days, competent people to submit a certified, the board of directors according to the provisions of paragraph 1 of the making investment and loan scheme, standards and procedures of the copy of the resolution.
Life insurance company business loans
616,, and the
(1) the loan limits-foreign life insurance company
Foreign life insurance company for all kinds of life insurance, accidents and disease insurance, accident insurance and personal accident insurance and insurance of the disease and has provided the trust business loans, which has been accepted's total value at any time, are used to these insurance shall not exceed the value of the property in Canada, the specified proportion.
(2) foreign life insurance company for except life insurance, accident and disease insurance, accident insurance and personal accident insurance and insurance of the disease outside of all kinds of insurance of trust and provide the business loans and to have a natural person of loans, which has been accepted's total value at any time, are used to these insurance shall not exceed the value of the property in Canada, the specified proportion.
Foreign property and the accident insurance company's consumer loans and commercial loans
617,, and the
Loan limits-foreign property and accident insurance company
Foreign property and the accident insurance company has obtained the trust of commercial loan and provide natural person of loans, which has been accepted's total value at any time in Canada's property shall not exceed the value of the specified proportion.
Real estate
618,, and the
(1) for the interests of the total property limited-foreign life insurance company
Foreign life insurance company used in the various types of life insurance, accidents and disease insurance, accident insurance and personal accident insurance and disease insurance, and has obtained from the trust of immovable property, it has been accepted's total value at any time for this some insurance shall not exceed the value of the property in Canada's 15%.
(2) the total property interests of the foreign company limited-compound
Foreign life insurance company used to in addition to life insurance, accident and disease insurance, accident insurance and personal accident insurance and disease insurance outside of the all kinds of insurance, and has obtained from the trust of immovable property, it has been accepted's total value at any time shall not exceed the used for the insurance in Canada of some 10% of the property value.
(3) on the total property interests of the foreign property and restricted-an accident insurance company
Foreign property and the accident insurance company has obtained the trust of immovable property, it has been accepted's total value at any time shall not exceed the value of the property in Canada's 10%.
shares
619,, and the
(1) for the shares have limits-foreign life insurance company
Foreign life insurance company used in the various types of life insurance, accidents and disease insurance, accident insurance and personal accident insurance and disease insurance, and has obtained by trust, according to the first Ⅸ part of the spirit of the legal person in any shares, and any non-legal-person entity to any of the ownership of the interests, the total value of its has been accepted at any time for these insurance shall not exceed the value of the property in Canada's 25%.
(2) the shares have limits-compound foreign company
Foreign life insurance company used to in addition to life insurance, accident and disease insurance, accident insurance and personal accident insurance and disease insurance outside of the all kinds of insurance, and already trust made, according to the first Ⅸ part of the spirit of the legal person shares and participate in any of the interests of any non-legal-person entity, the ownership of the total value of its has been accepted at any time for this some insurance shall not exceed the value of the property in Canada's 25%.
(3) of a joint stock limited-have foreign property and accident insurance company
To the property and accident insurance company has obtained the trust, according to the provisions of the spirit of Ⅸ part in any legal shares and any non-legal-person entity to the ownership of the interests, the has been accepted's total value, at any time in Canada may not exceed 25% of the property value.
Overall limit
620,, and the
The overall value of the restrictions
The following every kind of has been accepted the total value of the accumulative total value, namely
(a) the provisions of article 618 and paragraph 1 under paragraph 1 of article 619 of the total value of has been accepted;
(b) paragraph 2 of article 618 of this law and in paragraph 2 of article 614 of the total value of has been accepted;
(c) the provisions of article 618 and article 3 of 3 referring to the total value of has been accepted;
In any foreign company, shall not exceed the value of the property in Canada each of the stipulated proportion.
Self trading
621,, and the
Prohibitive transaction
Foreign companies through a property deals, and according to the provisions of article 521, obtained in property, foreign companies engaged in the trade of the ban, the foreign company shall not according to the provisions of the trust has any such property.
622,, and the
exception
Foreign companies through the provisions of article 522 and article 533 of this law property deals, and meet the following conditions, can trust in this property
(a) for the foreign companies, it is engaged in the business conditions at least paragraph 2 of article 534 of this law and the provisions of the market conditions equivalent is superior.
(b) the foreign companies will trust in this property, competent people to submit get notice.
1991,, and the C, 47, S, 622; 1997, C, 15, S, 316;
An actuary
623,, and the
appointed
(1) an actuary's appointment
According to the requirements of this law shall be submitted to the competent people of foreign company shall report an actuary no hesitation in Canada for its insurance business appointed an the company's actuaries.
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