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Version of document from 2006-03-22 to 2013-06-06:

Vested Assets (Foreign Companies) Regulations



Registration 1992-05-14

Regulations Prescribing the Value of Assets to be Vested in Trust by a Body Corporate Incorporated Elsewhere than in Canada

P.C. 1992-1031  1992-05-14

His Excellency the Governor General in Council, on the recommendation of the Minister of Finance, pursuant to subsection 581(1) and section 703 of the Insurance Companies ActFootnote *, is pleased hereby to revoke the Deposits for Registration Order, C.R.C., c. 978, and to make the annexed Regulations prescribing the value of assets to be vested in trust by a body corporate incorporated elsewhere than in Canada in substitution therefor, effective June 1, 1992.

Short Title

 These Regulations may be cited as the Vested Assets (Foreign Companies) Regulations.


 For the purposes of paragraph 581(1)(a) of the Insurance Companies Act, the value of assets required to be vested in trust by a body corporate incorporated elsewhere than in Canada is, for each class of insurance risks that the body corporate proposes to insure that is set out in column I of an item of the schedule, the value set out in column II of that item.

SCHEDULE(Section 2)

ItemColumn IColumn II
Class of InsuranceValue of Assets Required to be vested in Trust ($)
1Accident and sickness insurance100,000
2Aircraft insurance200,000
3Automobile insurance200,000
4Boiler and machinery insurance100,000
5Credit insurance100,000
6Earthquake insurance50,000
7Explosion insurance50,000
8Fidelity insurance100,000
9Fire insurance200,000
10Hail insurance200,000
11Inland transportation insurance100,000
12Legal expense insurance50,000
13Liability insurance200,000
14Life insurance200,000
15Livestock insurance50,000
16Mortgage insurance200,000
17Personal property insurance100,000
18Plate glass insurance50,000
19Property insurance600,000
20Real property insurance100,000
21Sprinkler leakage insurance50,000
22Surety insurance100,000
23Theft insurance100,000
24Title insurance200,000
25Weather insurance50,000
26Windstorm insurance50,000

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