O.C. 199/2011

A.R. 79/2011

May 12, 2011


The Lieutenant Governor in Council makes the Provincial Companies Amendment Regulation set out in the attached Appendix.

For Information only

Recommended by: Minister of Finance and Enterprise

Authority: Insurance Act
(section 123)


APPENDIX

Insurance Act

PROVINCIAL COMPANIES AMENDMENT REGULATION

1   The Provincial Companies Regulation (AR 124/2001) is amended by this Regulation.

 

2   Part 1 is amended

(a) in the heading by adding Security Interests and before Debt Obligations;

(b) by adding the following before section 1.01:

Prescribed matters under section 113 of the Act

1.001   For the purposes of section 113(2)(c) of the Act, the prescribed amount is the amount that is equal to 2% of the total assets of the provincial company.