A-32.1 - Insurers Act

Article 146 Versions de la disposition

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.

Non en vigueur

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.