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A-32 - Act respecting insurance
Section 262
Disposition versions
262. (Repealed).
262. No insurer shall acquire or holds shares, bonds or other securities of a corporation to which it is prohibited from making a loan under section 259. Section 264 is void when this section applies.
The Minister may however, after obtaining the advice of the Inspector General, permit an insurer to make, on the conditions that he determines, any investment prohibited by this section if the insurer establishes to his satisfaction that such investment does not involve in any significant way the interests of the persons contemplated in section 259 and is in accordance with the other provisions of this division.
262. No insurer shall acquire or holds shares, bonds or other securities of a corporation to which it is prohibited from making a loan under section 259. Section 264 is void when this section applies.
The Minister may however, after obtaining the advice of the Superintendent, permit an insurer to make, on the conditions that he determines, any investment prohibited by this section if the insurer establishes to his satisfaction that such investment does not involve in any significant way the interests of the persons contemplated in section 259 and is in accordance with the other provisions of this division.
262. No insurer shall acquire or hold shares, bonds or other securities of a corporation to which it is prohibited from making a loan under section 259, except in the case of a corporation contemplated in section 250. Section 264 is void when this section applies.
The Minister may however, after obtaining the advice of the Superintendent, permit an insurer to make, on the conditions that he determines, any investment prohibited by this section if the insurer establishes to his satisfaction that such investment does not involve in any significant way the interests of the persons contemplated in section 259 and is in accordance with the other provisions of this division.
