Minority Investment (Insurance Holding Companies) Regulations

Marginal note:Definitions

1 The following definitions apply in these Regulations.

Act

Act means the Insurance Companies Act. (Loi)

designated entity

designated entity means

• (a) an entity referred to in any of paragraphs 971(1)(a) to (j) of the Act;

• (b) an entity whose business includes one or more of the activities referred to in paragraph 971(2)(a) of the Act and that engages, as part of its business, in any financial intermediary activity that exposes the entity to material market or credit risk, including a factoring entity, a finance entity or a financial leasing entity; or

• (c) an entity whose business includes an activity referred to in paragraph 971(2)(b) of the Act, including a specialized financing entity, other than an entity in which an insurance holding company is permitted to acquire or increase a substantial investment under subparagraph 971(4)(c)(iii) of the Act. (entité désignée)

regulatory capital

regulatory capital has the same meaning as in section 2 of the Regulatory Capital (Insurance Holding Companies) Regulations. (capital réglementaire)

value

value means

• (a) in respect of a share, ownership interest or loan held by an insurance holding company at a particular time, the book value of the share, ownership interest or loan that would be reported on the balance sheet of the insurance holding company prepared as at that time in accordance with the accounting principles and specifications of the Superintendent referred to in subsection 887(4) of the Act; and

• (b) in respect of a guarantee, the face value of the guarantee. (valeur)