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O. Reg. 359/06: Variable Insurance Contracts

filed July 18, 2006 under Insurance Act, R.S.O. 1990, c. I.8

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ontario regulation 359/06

made under the

Insurance Act

Made: July 17, 2006
Filed: July 18, 2006
Published on e-Laws: July 19, 2006
Printed in The Ontario Gazette: August 5, 2006

Amending O. Reg. 132/97

(Variable Insurance Contracts)

1. (1) The definition of “CLHIA guidelines” in section 1 of Ontario Regulation 132/97 is revoked and the following substituted:

“CLHIA guidelines” means Guideline G2 of the CLHIA as it reads on June 30, 2006, entitled “Individual Variable Insurance Contracts Relating to Segregated Funds”, as originally adopted by the CLHIA on March 4, 1997 and amended March 7, 2001 and December 5, 2005, available from the Canadian Council of Insurance Regulators, 5160 Yonge Street, 17th floor, Toronto, Ontario, M2N 6L9 and electronically at www.ccir-ccrra.org;

(2) Subsections 1 (2) and (3) of the Regulation are revoked.

2. Clause 6 (1) (b) of the Regulation is revoked and the following substituted:

(b) obtaining from the person an acknowledgement in writing or in an electronic or recorded oral form that the person has received a copy of the latest information folder.