D-9.2 - Act respecting the distribution of financial products and services

Section 490 Disposition versions

2009-12-04

490. (Replaced).

1998, c. 37, s. 490; 2008, c. 7, s. 97; 2009, c. 58, s. 84.

2008-05-28

490. An insurer convicted of an offence under section 480 or 482 is liable to a minimum fine of $10,000, double the profit realized or one fifth of the sums entrusted to or collected by the person, whichever is the greatest amount. The maximum fine is $200,000, four times the profit realized or half the sums entrusted to or collected by the person, whichever is the greatest amount.

In the case of a second or subsequent conviction, the minimum and maximum fines are doubled.

1998, c. 37, s. 490; 2008, c. 7, s. 97.

1999-10-01

490. An insurer convicted of an offence under section 480 or 482 is liable to a fine of not less than $10,000 and not more than $50,000 and, for every subsequent offence, to a fine of not less than $20,000 and not more than $100,000.

1998, c. 37, s. 490.