A-32.1 - Insurers Act

Section 146 Disposition versions

2024-05-09

146. The Authority is required to review an authorization on being notified of any of the following operations:

(1)  the amalgamation of the authorized insurer with another legal person;

(2)  a change as to the authorized insurer’s home regulator, in particular as a result of a continuance or another operation of the same nature;

(3)  an operation not referred to in subparagraph 1 or 2 where the authorized insurer changes its juridical form or transmits its patrimony or part of it due to its division;

(4)  a change of name of the authorized insurer; and

(5)  in the case of an authorized Québec insurer, where the following operations have a significant effect on it:

(a)  an acquisition of assets by the insurer or by a group of which it is the holder of control,

(b)  the transfer of any part of the insurer’s assets or of the assets of such a group, or

(c)  its becoming the holder of control of a group in accordance with subparagraph 1 of the first paragraph of section 9; and

(6)  in the case of a mutual company that is a member of a federation, the mutual company’s withdrawal from the federation.

An authorized Québec insurer’s ceasing to be the holder of control of a group is deemed to be a transfer, by the group, of all its assets.

2018, c. 23, s. 3; 2024, c. 15, s. 77.

2019-06-13

146. The Authority is required to review an authorization on being notified of any of the following operations:

(1)  the amalgamation of the authorized insurer with another legal person;

(2)  a change as to the authorized insurer’s home regulator, in particular as a result of a continuance or another operation of the same nature;

(3)  an operation not referred to in subparagraph 1 or 2 where the authorized insurer changes its juridical form or transmits its patrimony or part of it due to its division;

(4)  a change of name of the authorized insurer; and

(5)  in the case of an authorized Québec insurer, its becoming the holder of control of a group or either of the following events having a significant effect on it:

(a)  an acquisition of assets by the insurer or by a group of which it is the holder of control, or

(b)  the transfer of any part of the insurer’s assets or of the assets of such a group; and

(6)  in the case of a mutual company that is a member of a federation, the mutual company’s withdrawal from the federation.

An authorized Québec insurer’s ceasing to be the holder of control of a group is deemed to be a transfer, by the group, of all its assets.

2018, c. 23, s. 3.

Not in force

In force: 2019-06-13

146. The Authority is required to review an authorization on being notified of any of the following operations:

(1)  the amalgamation of the authorized insurer with another legal person;

(2)  a change as to the authorized insurer’s home regulator, in particular as a result of a continuance or another operation of the same nature;

(3)  an operation not referred to in subparagraph 1 or 2 where the authorized insurer changes its juridical form or transmits its patrimony or part of it due to its division;

(4)  a change of name of the authorized insurer; and

(5)  in the case of an authorized Québec insurer, its becoming the holder of control of a group or either of the following events having a significant effect on it:

(a)  an acquisition of assets by the insurer or by a group of which it is the holder of control, or

(b)  the transfer of any part of the insurer’s assets or of the assets of such a group; and

(6)  in the case of a mutual company that is a member of a federation, the mutual company’s withdrawal from the federation.

An authorized Québec insurer’s ceasing to be the holder of control of a group is deemed to be a transfer, by the group, of all its assets.

2018, c. 23, s. 3.