CONSOLIDATION

Exemption from Restrictions on Investments (Insurance Companies, Insurance Holding Companies and Societies) Regulations

SOR/2001-385

Current to June 20, 2022 Last amended on January 1, 2010



OFFICIAL STATUS OF CONSOLIDATIONS Subsections 31(1) and (3) of the Legislation Revision and Consolidation Act, in force on June 1, 2009, provide as follows: Published consolidation is evidence

31 (1) Every copy of a consolidated statute or consolidated regulation published by the Minister under this Act in either print or electronic form is evidence of that statute or regulation and of its contents and every copy purporting to be published by the Minister is deemed to be so published, unless the contrary is shown. ... Inconsistencies in regulations

(3) In the event of an inconsistency between a consolidated regulation published by the Minister under this Act and the original regulation or a subsequent amendment as registered by the Clerk of the Privy Council under the Statutory Instruments Act, the original regulation or amendment prevails to the extent of the inconsistency.

LAYOUT The notes that appeared in the left or right margins are now in boldface text directly above the provisions to which they relate. They form no part of the enactment, but are inserted for convenience of reference only.

NOTE This consolidation is current to June 20, 2022. The last amendments came into force on January 1, 2010. Any amendments that were not in force as of June 20, 2022 are set out at the end of this document under the heading “Amendments Not in Force”.

Current to June 20, 2022 Last amended on January 1, 2010

TABLE OF PROVISIONS Exemption from Restrictions on Investments (Insurance Companies, Insurance Holding Companies and Societies) Regulations

Exemption from Restrictions on Investments 1

Prescribed circumstances — life companies and insurance holding companies

Prescribed circumstances — property and casualty companies and marine companies

Prescribed circumstances — societies

Coming into Force *4

Coming into force

Current to June 20, 2022 Last amended on January 1, 2010

ii

Registration SOR/2001-385

October 4, 2001

INSURANCE COMPANIES ACT Exemption from Restrictions on Investments (Insurance Companies, Insurance Holding Companies and Societies) Regulations

P.C. 2001-1756

October 4, 2001

Her Excellency the Governor General in Council, on the recommendation of the Minister of Finance, pursuant to paragraphs 501(a)a and (b)a and 554(9)(a)b and (b)b of the Insurance Companies Actc, hereby makes the annexed Exemption from Restrictions on Investments (Insurance Companies, Insurance Holding Companies and Societies) Regulations.

a

S.C. 2001, c. 9, s. 426

b

S.C. 2001, c. 9, s. 437

c

S.C. 1991, c. 47

Current to June 20, 2022 Last amended on January 1, 2010

Exemption from Restrictions on Investments (Insurance Companies, Insurance Holding Companies and Societies) Regulations

Exemption from Restrictions on Investments Prescribed circumstances — life companies and insurance holding companies 1 For the purposes of subparagraph 495(3)(d)(ii) and

971(3)(d)(ii) of the Insurance Companies Act, subsections 495(6) to (8) of the Act do not apply in determining whether a company would be permitted to acquire a substantial investment in an entity under subsection 493(2), paragraph 493(3)(b) or (c) or subsection 493(4) or 495(1) or (2) of the Act.

Prescribed circumstances — property and casualty companies and marine companies 2 For the purpose of subparagraph 495(5)(d)(ii) of the

Insurance Companies Act, subsections 495(6) to (8) of the Act do not apply in determining whether a company would be permitted to acquire a substantial investment in an entity under subsection 493(2), paragraph 493(3)(b) or (c) or subsection 495(1) or (4) of the Act. SOR/2009-296, s. 29.

Prescribed circumstances — societies 3 For the purpose of subparagraph 554(3)(d)(ii) of the

Insurance Companies Act, subsections 554(4) and (5) of the Act do not apply in determining whether a society would be permitted to acquire a substantial investment in an entity under subsection 552(2), paragraph 552(3)(b) or (c) or subsection 554(1) or (2) of the Act.

Coming into Force Coming into force 4 These Regulations come into force on the day on which paragraphs 501(a) and (b) and 554(9)(a) and (b) of the Insurance Companies Act, as enacted by sections 426 and 437 of the Financial Consumer Agency of Canada *

Current to June 20, 2022 Last amended on January 1, 2010

Exemption from Restrictions on Investments (Insurance Companies, Insurance Holding Companies and Societies) Regulations Coming into Force Section 4

Act, chapter 9 of the Statutes of Canada, 2001, come into force. *

[Note: Regulations in force October 24, 2001, see SI/2001-102.]

Current to June 20, 2022 Last amended on January 1, 2010

