GreatNorthCollective/greatnorth-canada-federal-laws-text huggingface dataset:
Insurance Business (Cooperative Credit Associations) Regulations — (a)
creditors’ loss of employment insurance means a policy of an insurance company that will pay to a body corporate that is part of the cooperative credit system, without any individual assessment of risk, all or part of the amount of a debt of a debtor to the body corporate in the event that (a) where the debtor is a natural person, the debtor becomes involuntarily unemployed, or (b) a natural person who is a guarantor of all or part of the debt becomes involuntarily unemployed. ( assurance crédit en cas de perte d’emploi )
Insurance Business (Cooperative Credit Associations) Regulations — Insurance Business (Cooperative Credit Associations) Regulations
creditors’ vehicle inventory insurance means a policy of an insurance company that provides insurance against direct and accidental loss of, or damage to, vehicles that are held in stock, for display and sale, by a debtor to a body corporate that is part of the cooperative credit system, some or all of which have been financed by the body corporate. ( assurance crédit pour stocks de véhicules )
Insurance Business (Cooperative Credit Associations) Regulations — Insurance Business (Cooperative Credit Associations) Regulations
export credit insurance means a policy of an insurance company that provides insurance to an exporter of goods or services against loss incurred by the exporter as a result of nonpayment for exported goods or services. ( assurance crédit des exportateurs )
Insurance Business (Cooperative Credit Associations) Regulations — Insurance Business (Cooperative Credit Associations) Regulations
group insurance policy means a contract of insurance between an insurance company and any body corporate that is part of the cooperative credit system that provides insurance severally in respect of a group of identifiable persons who individually hold certificates of insurance. ( police d’assurance collective )
Insurance Business (Cooperative Credit Associations) Regulations — Insurance Business (Cooperative Credit Associations) Regulations
insurance company means an entity that is approved, registered or otherwise authorized to insure risks under an Act of Parliament or of the legislature of a province. ( société d’assurances )
Insurance Business (Cooperative Credit Associations) Regulations — Insurance Business (Cooperative Credit Associations) Regulations
line of credit means a commitment on the part of a body corporate that is part of the cooperative credit system, to lend to a debtor of the body corporate, without a predetermined repayment schedule, one or more amounts, where the aggregate amount outstanding does not exceed a predetermined credit limit, which limit does not exceed the reasonable credit needs of the debtor. ( marge de crédit )
Insurance Business (Cooperative Credit Associations) Regulations — Insurance Business (Cooperative Credit Associations) Regulations
mortgage insurance means an insurance policy that provides insurance to a body corporate that is part of the cooperative credit system, against loss caused by a default on the part of a debtor who is a natural person under a loan from the body corporate that is secured by a mortgage on real property or on an interest in real property. ( assurance hypothèque )
Insurance Business (Cooperative Credit Associations) Regulations — (a)
personal accident insurance means a group insurance policy that provides insurance to a natural person, whereby the insurance company undertakes to pay (a) one or more amounts in the event of bodily injury to, or the death of, the person that is caused by an accident, or (b) a certain amount for each day that the person is hospitalized, in the event of bodily injury to the person that is caused by an accident or in the event of an illness or disability of the person. ( assurance accidents corporels )
Insurance Business (Cooperative Credit Associations) Regulations — Insurance Business (Cooperative Credit Associations) Regulations
small business means a business that is or, if it were incorporated, would be a small business corporation within the meaning of subsection 248(1) of the Income Tax Act . ( petite entreprise )
Insurance Business (Cooperative Credit Associations) Regulations — (a)
travel insurance means (a) a policy of an insurance company that provides insurance to a natural person in respect of a trip by the person away from the place where the person ordinarily resides, without any individual assessment of risk, against (i) loss that results from the cancellation or interruption of the trip, (ii) loss of, or damage to, personal property that occurs during the trip, or (iii) loss that is caused by the delayed arrival of personal baggage during the trip, or (b) a group insurance policy that provides insurance to a natural person in respect of a trip by the person away from the province in which the person ordinarily resides (i) against expenses incurred during the trip that result from an illness or disability of the person that occurs during the trip, (ii) against expenses incurred during the trip that result from bodily injury to, or the death of, the person that is caused by an accident during the trip, (iii) whereby the insurance company undertakes to pay one or more sums of money in the event of an illness or disability of the person that occurs during the trip, or of bodily injury to, or the death of, the person that is caused by an accident during the trip, (iv) against expenses incurred by the person for dental care necessitated by an accident that occurs during the trip, or (v) in the event that the person dies during the trip, against expenses incurred for the return of the person’s remains to the place where the person was ordinarily resident before death, or against travel expenses incurred by a relative of that person who must travel to identify that person’s remains. ( assurance voyage )
Insurance Business (Cooperative Credit Associations) Regulations — 2
2 A retail association may carry on any aspect of the business of insurance, other than the underwriting of insurance, outside Canada. SOR/2011-185, s. 2
Insurance Business (Cooperative Credit Associations) Regulations — 3
3 (1) An association may administer an authorized type of insurance and personal accident insurance. (2) An association may administer a group insurance policy for (a) its employees; (b) for the employees of any body corporate that the association has control of, or a substantial investment in, under section 390 of the Act; or (c) for the employees of a member of the association.
Insurance Business (Cooperative Credit Associations) Regulations — 4
4 An association may provide advice or a service in respect of (a) an authorized type of insurance; (b) an insurance policy that is not of an authorized type of insurance referred to in paragraph 6(1)(b); or (c) an insurance policy that is not of an authorized type of insurance, other than a policy referred to in paragraph 6(1)(b), if (i) the advice is general in nature, (ii) the advice is not in respect of (A) a specific risk, proposal in respect of life insurance, insurance policy or service, or (B) a particular insurance company, agent or broker, and (iii) the association does not thereby refer any person to a particular insurance company, agent or broker.
Insurance Business (Cooperative Credit Associations) Regulations — 5
5 An association shall not, in relation to its business in Canada, promote an insurance company, agent or broker unless (a) the company, agent or broker deals only in authorized types of insurance; or (b) the promotion takes place outside an office of a local cooperative credit society or a branch of a retail association and is directed to (i) all holders of credit or charge cards issued by the association or by any body corporate that is part of the cooperative credit system, (ii) all customers of the association and all members of local cooperative credit societies that are members of the association, who are natural persons and who regularly receive statements of account or notices of those statements, or (iii) the general public. SOR/2011-185, s. 3
Insurance Business (Cooperative Credit Associations) Regulations — 6
6 (1) An association shall not, in relation to its business in Canada, promote an insurance policy of an insurance company, agent or broker, or a service in respect of such a policy, unless (a) the policy is of an authorized type of insurance or the service is in respect of such a policy; (b) the policy is not of an authorized type of insurance and (i) is restricted to insuring the risks of the association, a local cooperative credit society that is a member of the association or an affiliate of the association, and (ii) does not in any way insure the risks of a customer arising from a transaction with the customer. (c) the policy is to be provided by a corporation without share capital, other than a mutual insurance company or fraternal benefit society, that carries on business without pecuniary gain to its members and the policy provides insurance to a natural person in respect of the risks covered by travel insurance; (d) the policy is a personal accident insurance policy and the promotion takes place outside an office of a local cooperative credit society or a branch of a retail association; (e) the service is in respect of a policy referred to in paragraph (c) or a policy referred to in paragraph (d) that is promoted in the manner described in that paragraph; or (f) the promotion takes place outside an office of a local cooperative credit society or a branch of a retail association and is directed to a group of persons referred to in any of subparagraphs 5(b)(i) to (iii). (2) Despite subsection (1) and section 5, an association may exclude from a promotion referred to in paragraph (1)(f) or 5(b) any person (a) in respect of whom the promotion would contravene an Act of Parliament or of the legislature of a province; (b) who has given written notice to the association or to a body corporate that is part of the cooperative credit system and that is involved in the promotion, that the person does not wish to receive promotional material from the association or the body corporate; (c) who is the holder of a credit or charge card referred to in subparagraph 5(b)(i) and in respect of which the account is not in good standing; or (d) who is a member of a local cooperative credit society that has notified the association in writing that it does not wish its members to receive any promotional material from the association. SOR/2011-185, s. 4
Insurance Business (Cooperative Credit Associations) Regulations — 6.1
6.1 (1) The promotion referred to in paragraph 5(b) may take place on an association web page if it relates to an insurance company, agent or broker that deals only in authorized types of insurance and the promotion referred to in paragraph 6(1)(d) or (f) may take place on an association web page if it relates to only an authorized type of insurance. (2) However, an association shall not, on an association web page, provide access to a web page — directly or through another web page — through which there is promotion of (a) an insurance company, agent or broker that does not deal only in authorized types of insurance; or (b) an insurance policy of an insurance company, agent or broker, or a service in respect of such a policy, that is not of only an authorized type of insurance. SOR/2011-185, s. 5
Insurance Business (Cooperative Credit Associations) Regulations — 7
7 (1) No association shall (a) directly or indirectly provide to an insurance company, agent or broker any information respecting (i) a customer in Canada of a body corporate that is a member of the association, (ii) a customer of the association in Canada, if it is a retail association, (iii) an employee of a customer referred to in subparagraphs (i) or (ii), (iv) if a customer referred to in subparagraphs (i) or (ii) is an entity with members in Canada, any such member, or (v) if a customer referred to in subparagraph (i) or (ii) is a partnership with partners in Canada, any such partner; (b) permit any of its subsidiaries to directly or indirectly provide to an insurance company, agent or broker any information that the subsidiary receives from the association respecting a person referred to in any of subparagraphs (a)(i) to (v); or (c) permit a subsidiary of the association that is a trust or loan corporation incorporated by or under an Act of the legislature of a province to directly or indirectly provide to an insurance company, agent or broker any information respecting (i) a customer in Canada of the subsidiary, (ii) an employee of a customer referred to in subparagraph (i), (iii) if a customer referred to in subparagraph (i) is an entity with members in Canada, any such member, or (iv) if a customer referred to in subparagraph (i) is a partnership with partners in Canada, any such partner. (2) Subsection (1) does not apply in respect of an association, or a subsidiary of an association that is a trust or loan corporation incorporated by or under an Act of the legislature of a province, if (a) the association or subsidiary has established procedures to ensure that the information referred to in that subsection will not be used by an insurance company, agent or broker to promote, in Canada, the company, agent or broker, an insurance policy or a service in respect of an insurance policy; and (b) the insurance company, agent or broker, as the case may be, has given an undertaking to the association or subsidiary, in a form acceptable to the Superintendent, that the information will not be used to promote in Canada the insurance company, agent or broker, an insurance policy or a service in respect of an insurance policy.
Insurance Business (Cooperative Credit Associations) Regulations — 8
8 No association shall provide a telecommunications device that is primarily for the use of customers or members in Canada of a local cooperative credit society or a retail association and that links a customer or member with an insurance company, agent or broker.
Insurance Business (Cooperative Credit Associations) Regulations — 9
9 A retail association shall not carry on business in Canada on premises that are adjacent to the premises of an insurance company, agent or broker unless the retail association clearly indicates to its customers that its business and the premises on which its business is carried on are separate and distinct from those of the insurance company, agent or broker. SOR/2011-185, s. 6
Insurance Business (Cooperative Credit Associations) Regulations — 10
10 These Regulations come into force on the day on which they are registered.
Investments in Associations and Cooperatively-owned Entities Regulations — a
Her Excellency the Governor General in Council, on the recommendation of the Minister of Finance, pursuant to paragraph 396(a) a of the Cooperative Credit Associations Act b , hereby makes the annexed Investments in Associations and Cooperatively-owned Entities Regulations . a S.C. 2001, c. 9, s. 314 b S.C. 1991, c. 48
Investments in Associations and Cooperatively-owned Entities Regulations — 1
Definitions 1 The definitions in this section apply in these Regulations. Act means the Cooperative Credit Associations Act . ( Loi ) designated entity means (a) an entity referred to in any of paragraphs 390(1)(a) to (h) of the Act; (b) an entity whose business includes one or more of the activities referred to in paragraph 390(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 390(2)(b) of the Act, including a specialized financing entity, other than an entity in which an association is permitted to acquire or increase a substantial investment under subparagraph 390(4)(c)(iii) of the Act. ( entité désignée ) value means (a) in respect of a share, ownership interest or loan held by an association at a particular time, the book value of the share, ownership interest or loan that would be reported on the balance sheet of the association prepared as at that time in accordance with the accounting principles and specifications of the Superintendent referred to in subsection 292(4) of the Act; and (b) in respect of a guarantee, the face value of the guarantee. ( valeur )
Investments in Associations and Cooperatively-owned Entities Regulations — Investments in Associations and Cooperatively-owned Entities Regulations
Act means the Cooperative Credit Associations Act . ( Loi )
Investments in Associations and Cooperatively-owned Entities Regulations — (a)
designated entity means (a) an entity referred to in any of paragraphs 390(1)(a) to (h) of the Act; (b) an entity whose business includes one or more of the activities referred to in paragraph 390(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 390(2)(b) of the Act, including a specialized financing entity, other than an entity in which an association is permitted to acquire or increase a substantial investment under subparagraph 390(4)(c)(iii) of the Act. ( entité désignée )
Investments in Associations and Cooperatively-owned Entities Regulations — (a)
value means (a) in respect of a share, ownership interest or loan held by an association at a particular time, the book value of the share, ownership interest or loan that would be reported on the balance sheet of the association prepared as at that time in accordance with the accounting principles and specifications of the Superintendent referred to in subsection 292(4) of the Act; and (b) in respect of a guarantee, the face value of the guarantee. ( valeur )
Investments in Associations and Cooperatively-owned Entities Regulations — 2
Non-application 2 (1) Subsection 390(4) of the Act does not apply with respect to an association’s acquisition or increase of a substantial investment in a designated entity, other than an entity referred to in paragraph 390(1)(a) of the Act, that is controlled by another association. Loss of control — rights and obligations (2) If the designated entity ceases to be controlled by another association, the association that has acquired or increased a substantial investment in the designated entity (a) may, if the total value of the following does not exceed 50% of the association’s regulatory capital, continue to hold the substantial investment, namely, (i) all shares and ownership interests beneficially owned by the association, and all shares and ownership interests beneficially owned by entities controlled by the association, in designated entities in which the association has a substantial investment but over which it does not exercise control, (ii) all loans held by the association, and all loans held by entities controlled by the association, that were made to designated entities in which the association has a substantial investment but over which it does not exercise control, other than loans to designated entities that are not foreign institutions and that are deemed to be controlled by a group of associations, and (iii) all outstanding guarantees given by the association, and all outstanding guarantees given by entities controlled by the association, on behalf of designated entities in which the association has a substantial investment but over which it does not exercise control; and (b) shall, if the total value referred to in paragraph (a) exceeds 50% of the association’s regulatory capital, (i) without delay notify the Superintendent that the designated entity in which the association has a substantial investment has ceased to be controlled by another association, and that the total value referred to in paragraph (a) exceeds 50% of the association’s regulatory capital, and (ii) within two years after the loss of control referred to in subparagraph (i), do all things necessary to ensure that the association no longer has a substantial investment in the designated entity.
Investments in Associations and Cooperatively-owned Entities Regulations — 3
Non-application 3 (1) Subsection 390(4) of the Act does not apply with respect to an association’s acquisition or increase of a substantial investment in an entity referred to in paragraph 390(1)(a) of the Act if the entity is, or would as a result of the investment be, controlled by a group of associations. Loss of group control — rights and obligations (2) If the entity referred to in paragraph 390(1)(a) of the Act ceases to be controlled by a group of associations, the association that has acquired or increased a substantial investment in the entity (a) may, if the total value of the following does not exceed 50% of its regulatory capital, continue to hold the substantial investment, namely, (i) all shares and ownership interests beneficially owned by the association, and all shares and ownership interests beneficially owned by entities controlled by the association, in designated entities in which the association has a substantial investment but over which it does not exercise control, (ii) all loans held by the association, and all loans held by entities controlled by the association, that were made to designated entities in which the association has a substantial investment but over which it does not exercise control, other than loans to designated entities that are not foreign institutions and that are deemed to be controlled by a group of associations, and (iii) all outstanding guarantees given by the association, and all outstanding guarantees given by entities controlled by the association, on behalf of designated entities in which the association has a substantial investment but over which it does not exercise control; and (b) shall, if the total value referred to in paragraph (a) exceeds 50% of its regulatory capital, (i) without delay notify the Superintendent that the entity has ceased to be controlled by a group of associations, and that the total value referred to in paragraph (a) exceeds 50% of the association’s regulatory capital, and (ii) within two years after the loss of control referred to in subparagraph (i), do all things necessary to ensure that the association no longer has a substantial investment in the entity.
Investments in Associations and Cooperatively-owned Entities Regulations — 4
Meaning of “control” 4 (1) For the purposes of subparagraphs 2(2)(a)(ii) and 3(2)(a)(ii), a designated entity is deemed to be controlled by a group of associations if the association mentioned in either of those subparagraphs and other associations beneficially own securities of the designated entity in such a number that, if the association and the other associations were one association, that association would control the designated entity. (2) For the purpose of section 3, an entity referred to in paragraph 390(1)(a) of the Act is deemed to be controlled by a group of associations if (a) it is controlled by another association; or (b) if the association mentioned in that section and other associations beneficially own, or would own as a result of the investment, securities of the entity in such a number that, if the association and the other associations were one association, that association would control the entity.