Insurance Companies Act

Marginal note:Power to make regulations

• 1021 (1) The Governor in Council may make regulations

  • (a) prescribing anything that is required or authorized by this Act to be prescribed;

  • (b) prescribing the way in which anything that is required or authorized by this Act to be prescribed is to be determined;

  • (c) respecting, for any purpose of any provision of the Act, the determination of the equity of a company or an insurance holding company;

  • (d) defining words and expressions to be defined for the purposes of this Act;

  • (e) requiring the payment of a fee in respect of the filing, examining or issuing of any document or in respect of any action that the Superintendent is required or authorized to take under this Act, and fixing the amount of the fee or the manner of determining its amount;

  • (f) respecting the regulatory capital and total assets of a company, a society, a provincial company or an insurance holding company;

  • (g) respecting the standards of sound business and financial practices for companies, societies, provincial companies and foreign companies;

  • (h) respecting the retention, in Canada, of assets of a company, a society or an insurance holding company;

  • (i) respecting the value of assets of a company, a society or an insurance holding company to be held in Canada and the manner in which those assets are to be held;

  • (j) respecting the protection and maintenance of assets of a company, a society or an insurance holding company, including regulations respecting the bonding of directors, officers and employees of a company, a society or an insurance holding company;

  • (k) respecting the holding of shares and ownership interests for the purposes of section 74, 78 or 753;

  • (l) respecting information, in addition to the information required by section 670 or 996, to be maintained in the register referred to in that section; and

  • (m) generally for carrying out the purposes and provisions of this Act.

• Marginal note:Incorporation by reference

  (2) The regulations may incorporate any material by reference regardless of its source and either as it exists on a particular date or as amended from time to time.

• Marginal note:Incorporated material is not a regulation

  (3) Material does not become a regulation for the purposes of the Statutory Instruments Act because it is incorporated by reference.