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A-32.1 - Insurers Act
Section 12
Disposition versions
12. The following are deemed to participate in the concerted and ongoing exercise of their rights or powers and, consequently, to be the holders of control of a group:
(1) the participants that are controlled by a same holder of control as well as that holder, if the holder is a participant;
(2) the trustees of a same trust;
(3) the member mutual companies of a same federation; and
(4) the natural persons between whom family ties are considered to exist.
The participants described in the first paragraph are deemed to participate in the concerted and ongoing exercise of their voting rights or of their rights in shares with a view to being the holders of a significant interest in a business corporation.
The presumptions under the first and second paragraphs regarding member mutual companies of a same federation also apply to the other member mutual companies of that federation that neither have rights within or powers over the group.
In force: 2019-06-13
12. The following are deemed to participate in the concerted and ongoing exercise of their rights or powers and, consequently, to be the holders of control of a group:
(1) the participants that are controlled by a same holder of control as well as that holder, if the holder is a participant;
(2) the trustees of a same trust;
(3) the member mutual companies of a same federation; and
(4) the natural persons between whom family ties are considered to exist.
The participants described in the first paragraph are deemed to participate in the concerted and ongoing exercise of their voting rights or of their rights in shares with a view to being the holders of a significant interest in a business corporation.
The presumptions under the first and second paragraphs regarding member mutual companies of a same federation also apply to the other member mutual companies of that federation that neither have rights within or powers over the group.
