Insider Reports (Insurance Companies and Insurance Holding Companies) Regulations

Contents

Her Excellency the Governor General in Council, on the recommendation of the Minister of Finance, pursuant to section 291 of the Insurance Companies Act, hereby makes the annexed Insider Reports (Insurance Companies and Insurance Holding Companies) Regulations.^note^note

1 #

In these Regulations, Act means the Insurance Companies Act.

2 #

(1)For the purpose of paragraph 291(a) of the Act, an insider means an insider as it is defined, for the purpose of insider reports, under any legislation set out in column 2 of the schedule.

(2)For the purpose of paragraph 291(b) of the Act, the required form and content of an insider report are to be the form and content required for insider reports under any legislation set out in column 2 of the schedule.

(3)For the purpose of paragraph 291(c) of the Act, the procedure for submission and publication of insider reports is to be the procedure required for the submission and publication of insider reports under any legislation set out in column 2 of the schedule.

3 #

An insider required to submit an insider report under any legislation set out in column 2 of the schedule is to comply with the requirements set out in that legislation.

Exemption

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(1)A person that is subject to an exemption under any legislation set out in column 2 of the schedule, or an order of the relevant provincial securities regulator, that provides that the person is not an insider for the purposes of the applicable legislation, is not an insider for the purpose of subsection 2(1).

(2)A person that is subject to an exemption from any or all insider reporting requirements under any legislation set out in column 2 of the schedule, or an order of the relevant provincial securities regulator, is also exempt from those requirements for the purposes of these Regulations.

Coming into Force

5 #

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

(Sections 2 to 4)

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