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AR 165/2002 FINANCIAL CONSUMERS REGULATION

(Consolidated up to 129/2013)

ALBERTA REGULATION 165/2002

Financial Consumers Act

FINANCIAL CONSUMERS REGULATION

Table of Contents

                1       Definitions

                2       Exempt named financial products

                3       Exempt agent — authorization in writing

             3.1       Exemption from Act

                4       Repeal

                5       Expiry


Definition

1(1)  In this Regulation, “Act” means the Financial Consumers Act.

(2)  For the purposes of the Act, “securities dealer” means a person who is registered as a dealer under the Securities Act.

Exempt named financial products

2   The following are not named financial products for the purposes of section 2(i) of the Act:

                                 (a)    a contract of group insurance, as defined in the Insurance Act, or any certificate issued under such a contract;

                                 (b)    a contract of creditor’s group insurance, as defined in the Insurance Act, or any certificate issued under such a contract;

                                 (c)    a pension plan, as defined in the Employment Pension Plans Act, or any interest in such a plan;

                                 (d)    life insurance contracts that are exempt policies for the purposes of the Income Tax Act (Canada).

Exempt agent — authorization in writing

3   Section 17 of the Act does not apply to an agent who is authorized in writing to issue a receipt in the name of a supplier for which the supplier will accept responsibility.

AR 165/2002 s3;129/2013

Exemption from Act

3.1   The Act does not apply to an agent who is required to be registered in accordance with section 75 of the Securities Act.

AR 129/2013 s2

Repeal

4   The Financial Consumers Regulation (AR 102/91) is repealed.

Expiry

5   For the purpose of ensuring that this Regulation is reviewed for ongoing relevancy and necessity, with the option that it may be repassed in its present or an amended form following a review, this Regulation expires on June 30, 2020.

AR 165/2002 s5;96/2012;129/2013