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

SOR/2003-185INSURANCE COMPANIES ACT
Registration 2003-05-29
Foreign Institutions Subject to the Canadian Residency Requirements Regulations (Insurance Companies)
P.C. 2003-766  2003-05-29Her Excellency the Governor General in Council, on the recommendation of the Minister of Finance, pursuant to section 1021Footnote a of the Insurance Companies ActFootnote b, hereby makes the annexed Foreign Institutions Subject to the Canadian Residency Requirements Regulations (Insurance Companies).

Return to footnote aS.C. 2001, c. 9, s. 465
Return to footnote bS.C. 1991, c. 47
Prescribed Holding Body Corporate

1 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

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