Minority Investment (Insurance Companies) Regulations

Marginal note:Definitions

1 The following definitions apply in these Regulations.

Act

Act means the Insurance Companies Act. (Loi)

designated entity

designated entity means

• (a) an entity referred to in any of paragraphs 495(1)(a) to (j) of the Act;

• (b) an entity whose business includes one or more of the activities referred to in paragraph 495(2)(a) of the Act and that engages, as part of its business, in any financial intermediary activity that exposes the entity to material market or credit risk, including a factoring entity, a finance entity or a financial leasing entity; or

• (c) an entity whose business includes an activity referred to in paragraph 495(2)(b) or (4)(b) of the Act, including a specialized financing entity, other than an entity in which a company is permitted to acquire or increase a substantial investment under subparagraph 495(6)(c)(iii) of the Act. (entité désignée)

regulatory capital

regulatory capital has the same meaning as in section 3 of the Regulatory Capital (Insurance Companies) Regulations. (capital réglementaire)

value

value means

• (a) in respect of a share, ownership interest or loan held by a company at a particular time, the book value of the share, ownership interest or loan that would be reported on the balance sheet of the company prepared as at that time in accordance with the accounting principles and specifications of the Superintendent referred to in subsection 331(4) of the Act; and

• (b) in respect of a guarantee, the face value of the guarantee. (valeur)