O.C. 576/2002

A.R. 292/2002

December 4, 2002

   

    A P P E N D I X

    Insurance Act

    CERTIFICATE EXPIRY, PENALTIES AND FEES

    AMENDMENT REGULATION

1   The Certificate Expiry, Penalties and Fees Regulation (AR 125/2001) is amended by this Regulation.

2   Section 1 is repealed and the following is substituted:

Expiry dates

 

        1(1)  A life insurance agent's certificate of authority issued, renewed, amended or reinstated

                  (a) during the period from February 16 to the following December 15 expires on February 15 following the date of its issue, renewal, amendment or reinstatement;

                  (b) during the period from December 16 to the following February 15 expires on February 15 of the year following the expiry of that period.

        (2)  An accident and sickness insurance agent's certificate of authority issued, renewed, amended or reinstated

                  (a) during the period from February 16 to the following December 15 expires on February 15 following the date of its issue, renewal, amendment or reinstatement;

                  (b) during the period from December 16 to the following February 15 expires on February 15 of the year following the expiry of that period.

        (3)  A general insurance agent's certificate of authority issued, renewed, amended or reinstated

                  (a) during the period from December 16, 2001 to December 15, 2002 expires on October 31, 2003;

                  (b) during the period from December 16, 2002 to August 31, 2003 expires on October 31, 2003;

                  (c) during the period from September 1, 2003 to October 31, 2003 expires on October 31, 2004.

        (4)  After October 31, 2003, a general insurance agent's certificate of authority issued, renewed, amended or reinstated

                  (a) during the period from November 1 to the following August 31 expires on October 31 following the date of its issue, renewal, amendment or reinstatement;

                  (b) during the period from September 1 to the following October 31 expires on October 31 of the year following the expiry of that period.

        (5)  An adjuster's certificate of authority issued, renewed, amended or reinstated

                  (a) during the period from June 1 to the following March 31 expires on May 31 following the date of its issue, renewal, amendment or reinstatement;

                  (b) during the period from April 1 to the following May 31 expires on May 31 of the year following the expiry of that period.

3   Section 3 is repealed and the following is substituted:

Issue or renewal of certificate

 

        3   The fees payable by insurance agents for the issue or renewal of an insurance agent's certificate of authority are as follows:

   

4   Section 6 is repealed and the following is substituted:

Amendment or reinstatement of certificate

 

        6   The fee payable by insurance agents for the amendment or reinstatement of an insurance agent's certificate of authority is $10.