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A-32.1, r. 1 - Regulation under the Act respecting insurance

Section 41
Disposition versions

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41. The following investments must be authorized in advance by the board of directors of a federation of mutual insurance associations:
(1)  any transaction for the purpose of acquiring, using the federation’s investment fund, securities issued by a restricted party in respect of the federation or by a legal person belonging to the same group as the federation; and
(2)  any transfer of assets between the federation’s investment fund and a restricted party in respect of the federation or by a legal person belonging to the same group as the federation.
Bad debts, unproductive assets and assets repossessed from a debtor in default may not be transferred to the investment fund.
O.C. 887-2009, s. 41.
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