D-9.2, r. 10 - Regulation respecting the pursuit of activities as a representative

Section 5.3 Disposition versions

2023-12-02

5.3. Despite section 5.1, a financial product or service may not be offered to a natural person or to a person who the representative knows is such natural person’s spouse or child, the spouse’s child, the natural person’s mother, father, brother or sister, the spouse of the natural person’s father or mother, the father or mother of the natural person’s spouse or the spouse of the natural person’s child in the following circumstances:

(1)  when a mortgage broker, representative in group insurance, damage insurance agent, damage insurance broker or claims adjuster has a relationship with that person that arises from an outside activity referred to in subparagraphs 1, 2, 5 and 7 to 9 of the second paragraph of section 5.2;

(2)  when a mortgage broker, representative in group insurance, damage insurance agent or damage insurance broker has a relationship with that person arising from an outside activity as a member of the Ordre des comptables professionnels agréés, to the extent that pursuing that activity requires him to hold a public accountancy permit, or as a member of the Ordre professionnel des avocats du Québec or the Ordre professionnel des notaires du Québec;

(3)  when a representative in group insurance, damage insurance agent, damage insurance broker or claims adjuster has a relationship with that person that arises from an outside activity as a real estate broker;

(4)  when a mortgage broker has a relationship with the natural person that arises from the outside activity of:

(a)  money lender;

(b)  loan administrator, except where the broker acts on behalf of a natural person who wishes to enter into, or has entered into, a loan secured by immovable hypothec;

(c)  member of the Ordre professionnel des évaluateurs agréés du Québec; or

(d)  building inspector;

(5)  when a damage insurance agent, damage insurance broker or claims adjuster has a relationship with that person that arises from the outside activity of:

(a)  vendor, lessor or repairer of road vehicles, off-road vehicles or boats;

(b)  vendor, lessor or repairer of movable property, to the extent that the product or service is specifically related to the property;

(c)  contractor within the meaning of section 7 of the Building Act (chapter B-1.1); or

(d)  provider of services required when there is an insurance loss.

M.O. 2023-07, s. 2.

Not in force

In force: 2023-12-02

5.3. Despite section 5.1, a financial product or service may not be offered to a natural person or to a person who the representative knows is such natural person’s spouse or child, the spouse’s child, the natural person’s mother, father, brother or sister, the spouse of the natural person’s father or mother, the father or mother of the natural person’s spouse or the spouse of the natural person’s child in the following circumstances:

(1)  when a mortgage broker, representative in group insurance, damage insurance agent, damage insurance broker or claims adjuster has a relationship with that person that arises from an outside activity referred to in subparagraphs 1, 2, 5 and 7 to 9 of the second paragraph of section 5.2;

(2)  when a mortgage broker, representative in group insurance, damage insurance agent or damage insurance broker has a relationship with that person arising from an outside activity as a member of the Ordre des comptables professionnels agréés, to the extent that pursuing that activity requires him to hold a public accountancy permit, or as a member of the Ordre professionnel des avocats du Québec or the Ordre professionnel des notaires du Québec;

(3)  when a representative in group insurance, damage insurance agent, damage insurance broker or claims adjuster has a relationship with that person that arises from an outside activity as a real estate broker;

(4)  when a mortgage broker has a relationship with the natural person that arises from the outside activity of:

(a)  money lender;

(b)  loan administrator, except where the broker acts on behalf of a natural person who wishes to enter into, or has entered into, a loan secured by immovable hypothec;

(c)  member of the Ordre professionnel des évaluateurs agréés du Québec; or

(d)  building inspector;

(5)  when a damage insurance agent, damage insurance broker or claims adjuster has a relationship with that person that arises from the outside activity of:

(a)  vendor, lessor or repairer of road vehicles, off-road vehicles or boats;

(b)  vendor, lessor or repairer of movable property, to the extent that the product or service is specifically related to the property;

(c)  contractor within the meaning of section 7 of the Building Act (chapter B-1.1); or

(d)  provider of services required when there is an insurance loss.

M.O. 2023-07, s. 2.