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A-32 - Act respecting insurance

Section 46
Disposition versions

Full text
46. The Minister may grant the authorization referred to in section 43 if he considers it expedient, in particular, in the interest of the insurance company and its development, and in the interest of the insured. The Minister must be satisfied that the financial resources of the persons concerned are sufficient to provide continuous financial support to the insurance company in its operations and development. The Minister must also take account of the effect of the transaction on the insurance industry in Québec.
The Minister shall render his decision following a report from the Authority. He may impose any conditions he considers appropriate.
1974, c. 70, s. 46; 1984, c. 22, s. 16; 1990, c. 86, s. 4; 1996, c. 63, s. 80; 1999, c. 40, s. 33; 2002, c. 70, s. 24; 2002, c. 45, s. 243; 2004, c. 37, s. 90.
46. The Minister may grant the authorization referred to in section 43 if he considers it expedient, in particular, in the interest of the insurance company and its development, and in the interest of the insured. The Minister must be satisfied that the financial resources of the persons concerned are sufficient to provide continuous financial support to the insurance company in its operations and development. The Minister must also take account of the effect of the transaction on the insurance industry in Québec.
The Minister shall render his decision following a report from the Agency. He may impose any conditions he considers appropriate.
1974, c. 70, s. 46; 1984, c. 22, s. 16; 1990, c. 86, s. 4; 1996, c. 63, s. 80; 1999, c. 40, s. 33; 2002, c. 70, s. 24; 2002, c. 45, s. 243.
46. The Minister may grant the authorization referred to in section 43 if he considers it expedient, in particular, in the interest of the insurance company and its development, and in the interest of the insured. The Minister must be satisfied that the financial resources of the persons concerned are sufficient to provide continuous financial support to the insurance company in its operations and development. The Minister must also take account of the effect of the transaction on the insurance industry in Québec.
The Minister shall render his decision following a report from the Inspector General. He may impose any conditions he considers appropriate.
1974, c. 70, s. 46; 1984, c. 22, s. 16; 1990, c. 86, s. 4; 1996, c. 63, s. 80; 1999, c. 40, s. 33; 2002, c. 70, s. 24.
46. The Minister may grant the authorization referred to in section 43 or 44 if he considers it expedient, in particular, in the interest of the insurance company and its development, and in the interest of the insured. The Minister must be satisfied that the financial resources of the persons concerned are sufficient to provide continuous financial support to the insurance company in its operations and development. The Minister must also take account of the effect of the transaction on the insurance industry in Québec.
Where the allotment or registration of the transfer of shares of the insurance company or the legal person that controls it has the effect of giving control of the insurance company or such a legal person, as the case may be, to non-residents and their associates, the Minister may grant the authorization referred to in section 44 only if, in addition, he is satisfied that the transaction is necessary in the circumstances for the maintenance of the financial position of the insurance company.
However, the second paragraph does not apply where the allotment of shares to non-residents and their associates gives them control at the time an insurance company is constituted.
The Minister shall render his decision following a report from the Inspector General. He may impose any conditions he considers appropriate.
1974, c. 70, s. 46; 1984, c. 22, s. 16; 1990, c. 86, s. 4; 1996, c. 63, s. 80; 1999, c. 40, s. 33.
46. The Minister may grant the authorization referred to in section 43 or 44 if he considers it expedient, in particular, in the interest of the insurance company and its development, and in the interest of the insured. The Minister must be satisfied that the financial resources of the persons concerned are sufficient to provide continuous financial support to the insurance company in its operations and development. The Minister must also take account of the effect of the transaction on the insurance industry in Québec.
Where the allotment or registration of the transfer of shares of the insurance company or the legal person that controls it has the effect of giving control of the insurance company or such a legal person, as the case may be, to non-residents and their associates, the Minister may grant the authorization referred to in section 44 only if, in addition, he is satisfied that the transaction is necessary in the circumstances for the maintenance of the financial position of the insurance company.
However, the second paragraph does not apply where the allotment of shares to non-residents and their associates gives them control at the time an insurance company is incorporated.
The Minister shall render his decision following a report from the Inspector General. He may impose any conditions he considers appropriate.
1974, c. 70, s. 46; 1984, c. 22, s. 16; 1990, c. 86, s. 4; 1996, c. 63, s. 80.
46. The Minister may grant the authorization referred to in section 43 or 44 if he considers it expedient, in particular, in the interest of the insurance company and its development, and in the interest of the insured. The Minister must be satisfied that the financial resources of the persons concerned are sufficient to provide continuous financial support to the insurance company in its operations and development. The Minister must also take account of the effect of the transaction on the insurance industry in Québec.
Where the allotment or registration of the transfer of shares of the insurance company or the corporation that controls it has the effect of giving control of the insurance company or such a corporation, as the case may be, to non-residents and their associates, the Minister may grant the authorization referred to in section 44 only if, in addition, he is satisfied that the transaction is necessary in the circumstances for the maintenance of the financial position of the insurance company.
However, the second paragraph does not apply where the allotment of shares to non-residents and their associates gives them control at the time an insurance company is incorporated.
The Minister shall render his decision following a report from the Inspector General. He may impose any conditions he considers appropriate.
1974, c. 70, s. 46; 1984, c. 22, s. 16; 1990, c. 86, s. 4.
46. The board of directors of any corporation contemplated in sections 43 to 45 may require of any person any information necessary for the application of those sections; it may refuse to register the transfer if a person does not give it that information.
1974, c. 70, s. 46; 1984, c. 22, s. 16.
46. The board of directors of an insurance company may require of any person applying for the registration of a transfer any information necessary for the application of sections 43 to 45; it may refuse to register the transfer if a person does not give it that information.
1974, c. 70, s. 46.
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