O.C. 567/2003

A.R. 375/2003

December 10, 2003

   

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 2 is amended

    (a) by striking out "this Part" and substituting "sections 3 to 12";

    (b) by adding "and those in section 12.1 apply to things done by the Minister and the Accreditation Committee under the Insurance Agents and Adjusters Regulation (AR 122/2001)" after "Act".

3   Section 3 is amended

    (a) in clause (b) by striking out "$60" and substituting "$70";

    (b) in clauses (c) and (d) by striking out "$25" and substituting "$45".

4   Section 4 is amended by striking out "$60" and substituting "$70".

5   Section 5(1)(a) and (b) are amended by striking out "$600" and substituting "$750".

6   Section 6 is repealed and the following is substituted:

Amendment or reinstatement of certificate

 

        6   The fee payable for the amendment or reinstatement of a certificate of authority is $25.

7   Sections 7 and 8 are amended by striking out "$10" and substituting "$25".

8   Section 9 is repealed and the following is substituted:

Writing of examinations

 

        9   The following fees are payable to write the respective qualifying examination:

              (a) by a general insurance agent $50;

              (b) by an insurance adjuster $50;

              (c) by an accident and sickness insurance agent $50;

              (d) by a full life insurance agent $90;

              (e) by a probationary life insurance agent

          (subject to clause (f)) $50;

              (f) by a probationary, who wishes to qualify

          as a full, life insurance agent $40.

9   Section 12 is amended

    (a) in clause (a) by striking out "$100" and substituting "$150";

    (b) in clause (b) by striking out "$175" and substituting "$225";

    (c) in clause (c) by striking out "$325" and substituting "$375";

    (d) in clause (d) by striking out "$450" and substituting "$500";

    (e) in clause (e) by striking out "$600" and substituting "$700";

    (f) in clause (f) by striking out "$1000" and substituting "$1500";

    (g) in clause (g) by striking out "$2500" and substituting "$3000";

    (h) in clause (h) by striking out "$5000" and substituting "$5500".

10   The following is added after section 12:

Continuing education

 

        12.1(1)  The fee payable by a continuing education provider,

                  (a) for the year in which an approval of the provider under section 29(2) of the Insurance Agents and Adjusters Regulation (AR 122/2001) is applied for (whether successfully or not) and for each subsequent year in which such an approval is held, is $250, and

                  (b) for applying for an approval under section 29(2.1) of that Regulation in respect of each particular continuing education course, is $100.

        (2)  Continuing education providers shall pay the fees under subsection (1) to the Alberta Insurance Council.