A-32.1 - Insurers Act

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253. Instead of revoking or suspending the authorization granted to a regulated business corporation under subparagraph c of subparagraph 1 of the first paragraph of section 164, or attaching a condition or restriction to the authorization under section 165, the Authority may order that the voting rights conferred by the shares issued by the corporation on the holder of control of the corporation or the holder of a significant interest in the decisions of the corporation be exercised by an administrator of the property of others appointed by the Authority.
The order may not be effective for more than five years from the day it was made.
2018, c. 23, s. 32018, c. 23, s. 3.
In force: 2019-06-13
253. Instead of revoking or suspending the authorization granted to a regulated business corporation under subparagraph c of subparagraph 1 of the first paragraph of section 164, or attaching a condition or restriction to the authorization under section 165, the Authority may order that the voting rights conferred by the shares issued by the corporation on the holder of control of the corporation or the holder of a significant interest in the decisions of the corporation be exercised by an administrator of the property of others appointed by the Authority.
The order may not be effective for more than five years from the day it was made.
2018, c. 23, s. 32018, c. 23, s. 3.