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O. Reg. 122/22: RELATED PARTIES - PART XVII.1 OF THE ACT

filed February 28, 2022 under Insurance Act, R.S.O. 1990, c. I.8

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ontario regulation 122/22

made under the

Insurance Act

Made: February 24, 2022
Filed: February 28, 2022
Published on e-Laws: February 28, 2022
Printed in The Ontario Gazette: March 19, 2022

Amending O. Reg. 130/08

(RELATED PARTIES - PART XVII.1 OF THE ACT)

1. Section 1 of Ontario Regulation 130/08 is revoked and the following substituted:

Exemption: prescribed holding company

1. For the purposes of clause 437.13 (2) (c) of the Act, a credit union or central within the meaning of the Credit Unions and Caisses Populaires Act, 2020 or a predecessor of that Act that is a holding company of an insurer is prescribed not to be a related party in respect of the insurer.

Commencement

2. This Regulation comes into force on the later of the day section 1 of Schedule 7 (Credit Unions and Caisses Populaires Act, 2020) to the Protect, Support and Recover from COVID-19 Act (Budget Measures), 2020 comes into force and the day this Regulation is filed.

 

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