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A-32 - Act respecting insurance

Section 23
Disposition versions

Full text
23. The Minister may, if the Minister considers it advisable and after obtaining the advice of the Authority, authorize the filing of the articles in the register in accordance with the Business Corporations Act (chapter S-31.1).
If the authorization is granted, the founders may transmit the articles, the required documents and the fees set out in the Act respecting the legal publicity of enterprises (chapter P-44.1) to the enterprise registrar. On receiving the articles, documents and fees, the entreprise registrar shall complete the formalities required by section 472 of the Business Corporations Act for the constitution of the company and transmit a certified copy of the articles and the certificate to the Authority.
If the Authority refuses to issue a licence to the company, its articles of constitution are cancelled by the enterprise registrar, and the fees paid for the constitution of the company are refunded.
1974, c. 70, s. 23; 1982, c. 52, s. 80; 1984, c. 22, s. 4; 2002, c. 70, s. 8; 2004, c. 37, s. 90; 2010, c. 7, s. 177; 2009, c. 52, s. 500.
23. The Minister may, if the Minister considers it advisable and after obtaining the advice of the Authority, authorize the filing of the articles in the register in accordance with Part IA of the Companies Act (chapter C-38).
If the authorization is granted, the founders may transmit the articles, the required documents and the fees set out in the Act respecting the legal publicity of enterprises (chapter P-44.1) to the enterprise registrar. On receiving the articles, documents and fees, the entreprise registrar shall complete the formalities required by section 123.15 of the Companies Act for the constitution of the company and transmit a certified copy of the articles and the certificate to the Authority.
If the Authority refuses to issue a licence to the company, its articles of constitution are cancelled by the enterprise registrar, and the fees paid for the constitution of the company are refunded.
1974, c. 70, s. 23; 1982, c. 52, s. 80; 1984, c. 22, s. 4; 2002, c. 70, s. 8; 2004, c. 37, s. 90; 2010, c. 7, s. 177.
23. The Minister may, if the Minister considers it advisable and after obtaining the advice of the Authority, authorize the filing of the articles in the register in accordance with Part IA of the Companies Act (chapter C‐38).
If the authorization is granted, the founders may transmit the articles, the required documents and the prescribed fees to the enterprise registrar. On receiving the articles, documents and fees, the entreprise registrar shall complete the formalities required by section 123.15 of that Act for the constitution of the company and transmit a certified copy of the articles and the certificate to the Authority.
If the Authority refuses to issue a licence to the company, its registration is cancelled by the enterprise registrar on his or her own initiative, and the fees paid for the constitution of the company are refunded.
1974, c. 70, s. 23; 1982, c. 52, s. 80; 1984, c. 22, s. 4; 2002, c. 70, s. 8; 2004, c. 37, s. 90.
23. The Minister may, if the Minister considers it advisable and after obtaining the advice of the Agency, authorize the filing of the articles in the register in accordance with Part IA of the Companies Act (chapter C‐38).
If the authorization is granted, the founders may transmit the articles, the required documents and the prescribed fees to the enterprise registrar. On receiving the articles, documents and fees, the entreprise registrar shall complete the formalities required by section 123.15 of that Act for the constitution of the company and transmit a certified copy of the articles and the certificate to the Agency.
If the Agency refuses to issue a licence to the company, its registration is cancelled by the enterprise registrar on his or her own initiative, and the fees paid for the constitution of the company are refunded.
1974, c. 70, s. 23; 1982, c. 52, s. 80; 1984, c. 22, s. 4; 2002, c. 70, s. 8.
23. The application must be accompanied with acceptable securities corresponding to fifteen per cent of the capital stock payable under section 27. From the granting of the licence, the securities shall be used to constitute the deposit provided for by this Act.
If the licence is refused, such securities shall be returned to the applicants only on proof considered satisfactory by the Inspector General that the other subscribers have been fully refunded.
1974, c. 70, s. 23; 1982, c. 52, s. 80; 1984, c. 22, s. 4.
23. The application must be accompanied with securities acceptable as deposits under this act, corresponding to 15 per cent of the capital stock payable under sections 26 and 27; from the granting of the licence, such securities shall be used to constitute the deposit provided for by this act.
If the licence is refused, such securities shall be returned to the applicants only on proof considered satisfactory by the Inspector General that the other subscribers have been fully refunded.
1974, c. 70, s. 23; 1982, c. 52, s. 80.
23. The application must be accompanied with securities acceptable as deposits under this act, corresponding to 15 per cent of the capital stock payable under sections 26 and 27; from the granting of the licence, such securities shall be used to constitute the deposit provided for by this act.
If the licence is refused, such securities shall be returned to the applicants only on proof considered satisfactory by the Superintendent that the other subscribers have been fully refunded.
1974, c. 70, s. 23.
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