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Her Excellency the Governor General in Council, on the recommendation of the Minister of Finance, pursuant to section 1021 of the Insurance Companies Act, hereby makes the annexed Total Assets for Supervisability and Public Holding Requirements (Insurance Companies and Insurance Holding Companies) Regulations.notenote
Total Assets
1Definition of total assets#
For the purpose of the definition total assets in subsection 2(1) of the Insurance Companies Act, as it applies in sections 59.1, 412 and 939 of that Act, total assets, in respect of a company or an insurance holding company, at a particular time, means the total value of the assets that would be reported on its balance sheet, prepared as at that time in accordance with the accounting principles and specifications of the Superintendent referred to in subsection 331(4) or 887(4), as the case may be, of that Act.
Repeal
Coming into Force
*3Coming into force#
These Regulations come into force on the day on which subsection 2(1) of the Insurance Companies Act, as enacted by section 345 of the Financial Consumer Agency of Canada Act, chapter 9 of the Statutes of Canada, 2001, comes into force.
Federal laws of Canada reproduced under the Reproduction of Federal Law Order (SI/97-5); not the official version. Source: Justice Laws Website.