Foreign Institutions Subject to the Canadian Residency Requirements Regulations (Insurance Companies)

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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 Foreign Institutions Subject to the Canadian Residency Requirements Regulations (Insurance Companies).^note^note

Prescribed Holding Body Corporate

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For the purpose of subsection 167(2) of the Insurance Companies Act, a holding body corporate of a foreign institution is prescribed if

(a)the holding body corporate is incorporated or formed otherwise than by or under an Act of Parliament or of the legislature of a province; and

(b)the holding body corporate and entities it controls are, when viewed as a whole, engaged primarily in the business of providing financial services.

Coming into Force

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These Regulations come into force on the day on which they are registered.

Federal laws of Canada reproduced under the Reproduction of Federal Law Order (SI/97-5); not the official version. Source: Justice Laws Website.

Prescribed Holding Body Corporate

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Coming into Force

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