INSURANCE HOLDING COMPANIES
Marginal note:Prescribed activities
5. (1) For the purpose of paragraph 971(2)(f) of the Act, the following activities are prescribed in relation to an entity and an insurance holding company that acquires control of, or acquires or increases a substantial investment in, the entity:
(a) the provision of safety and risk prevention services and services respecting risk management and claims adjustment;
(b) the operation of rehabilitation and training and development centres;
(c) the provision of computer systems to independent insurance brokers and agents;
(d) the provision of support to independent insurance brokers and agents;
(e) the operation of repair and appraisal centres; and
(f) any other activities that are reasonably ancillary to the business of insurance carried on by a company controlled by the insurance holding company.
Marginal note:Prescribed term or condition
(2) For the purpose of paragraph 971(2)(f) of the Act, a prescribed term or condition is that the activities referred to in paragraphs (1)(a) to (e) must be reasonably ancillary to the business of insurance carried on by a company controlled by the insurance holding company.
COMING INTO FORCE
Marginal note:Coming into force
Footnote *6. These Regulations come into force on the day on which section 495 of the Insurance Companies Act, as enacted by section 426 of the Financial Consumer Agency of Canada Act, chapter 9 of the Statutes of Canada, 2001, comes into force.
Return to footnote *[Note: Regulations in force October 24, 2001, see SI/2001-102.]
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