PART II GENERAL PROVISIONS APPLICABLE TO INSURERS
Regulations
121 (1) The Lieutenant Governor in Council may make regulations, 1.  respecting any matter in respect of which the Authority may make Authority rules under section 121.0.1, with necessary modifications; 2.  prescribing entities or classes of entities for the purposes of clause (f) of the definition of “financial institution” in section 1; 2.1  Repealed:  1997, c. 28, s. 107 (1). 3.  designating one or more bodies corporate or associations as compensation associations and desig­nating any such body corporate or association as a compensation association for one or more classes of insurers specified by the regulations; 4.  prescribing requirements imposed by, or provisions of, this Act, the regulations or an Authority rule for the purposes of exemption orders under subsection 15.1 (1) and prescribing limits and conditions that an exemption order may be subject to for the purposes of subsection 15.1 (2); 5.  designating insurers for the purposes of clause 44 (3) (a) and designating classes of insurers for the purposes of clause 44 (3) (e); 6.  prescribing ratios, percentages, amounts and calculations for the purposes of subsection 102 (8) and any such regulation may prescribe different ratios, percentages, amounts and calculations for one or more classes of insurance and for insurers whose business is limited to that of reinsurance; 7.  exempting any insurer or class of insurers from any regulation made under paragraph 6 subject to such terms and conditions as may be set out in the regulations; 7.0.1  prescribing restrictions on insurers holding, managing or otherwise dealing with real property; 7.1  prescribing an activity or failure to act for the purpose of paragraph 8 of subsection 65.1 (1); 8.  prescribing terms, conditions and limitations with respect to the reinsurance of risk; Note: On a day to be named by proclamation of the Lieutenant Governor, subsection (1) is amended by adding the following paragraphs: (See: 2014, c. 7, Sched. 14, ss. 2, 8 (1)) 8.1  exempting any person or class of persons from section 115.1 subject to such terms and conditions, including any limitations or restrictions, as may be set out in the regulations; 8.2  governing transitional matters which, in the opinion of the Lieutenant Governor in Council, are necessary or desirable to facilitate the implementation of section 115.1; 9.  establishing benefits for the purposes of Part VI that must be provided under contracts evidenced by motor vehicle liability policies and establishing terms, conditions, provisions, exclusions and limits related to such benefits; 10.  requiring insurers to offer optional benefits in excess of the benefits that must be provided under paragraph 9 prescribing the circumstances in which the optional benefits are to be offered and establishing terms, conditions, provisions, exclusions and limits related to such benefits; 10.1  prescribing coverages and endorsements in respect of contracts of automobile insurance that insurers or a class of insurers are required to offer, deeming the benefits provided by the coverages and endorsements not to be statutory accident benefits for the purpose of Part VI, and prescribing the circumstances in which the coverages and endorsements shall be offered; 10.2  prescribing rules for interpreting the regulations made under paragraphs 9 and 10 or any provision of those regulations; 10.3  prescribing functions to be performed by a committee appointed under section 7; 10.4  governing the procedure for determining who is liable to pay statutory accident benefits under section 268, including requiring insurers to resolve disputes about liability through an arbitration process established by the regulations and requiring the interim payment of benefits pending the determination of liability; 11.  prescribing categories of insurers for the purpose of subsection 101 (1), requiring insurers to file a return under that subsection by category and prescribing the information that insurers may solicit from insured persons for purposes of such returns; 11.1  prescribing the information to be provided under section 101.1 and any conditions that apply to the provision of the information; 12.  prescribing categories of insurers for the purpose of subsection 102 (1); 13.  prescribing dates for the purpose of clause 102 (1) (a); 14.  governing the preparation of financial statements required under this Act or the regulations; 14.0.0.1 prescribing classes of persons for the purposes of clause 129.1 (1) (d); 14.0.0.2 prescribing requirements with which persons must comply for the purpose of subsection 129.1 (3); 14.0.1 governing the investment and valuation of the assets of the Fire Mutuals Guarantee Fund; 14.0.2 exempting a contract or class of contracts from the application of Part V, any provision or requirement of Part V or any regulation or provision or requirement of a regulation made in respect of Part V, postponing, for any contract or class of contracts, the application of Part V or of any such provision or requirement to a specified date and applying a provision of Part V for a specified period on and after the date it was re-enacted, repealed or amended by Schedule 23 to the Strong Action for Ontario Act (Budget Measures), 2012, as it read immediately before that date, to a contract or class of contracts; 14.0.3 prescribing information for which access is limited under clause 174 (8) (b); 14.0.4 for the purpose of subsection 190 (4), respecting the circumstances under which an insurer may not restrict or exclude in a contract of life insurance the right of an insured to designate persons to whom or for whose benefit insurance money is to be payable and respecting the restriction or exclusion in a contract of such right; 14.0.5 prescribing the rights the insured may exercise under a contract of life insurance in the circumstances described in subsection 197 (2); 14.1  for the purposes of Part VI or any provision of Part VI, i.  defining “automobile”, ii.  prescribing any vehicle or class of vehicles to be automobiles subject to any terms and conditions prescribed in the regulations, iii.  prescribing any vehicle or class of vehicles not to be automobiles, subject to any terms and conditions prescribed in the regulations, iv.  prescribing any service or class of services to be public transit, in the circumstances, if any, prescribed in the regulations and subject to any terms, conditions, provisions, exclusions and limits prescribed in the regulations, v.  prescribing any service or class of services not to be public transit, in the circumstances, if any, prescribed in the regulations and subject to any terms, conditions, provisions, exclusions and limits prescribed in the regulations; 15.  prescribing the information to be given to applicants or to insured persons under subsection 229 (1) and the circumstances in which it is to be given; 15.0.1 Repealed: 2020, c. 34, Sched. 7, s. 3 (1). 15.1  for the purpose of section 234, prescribing statutory conditions and the types of contracts of automobile insurance to which the statutory conditions apply; 16.  establishing requirements that must be met, in circumstances specified by the regulations, before an insurer declines to issue, terminates or refuses to renew a contract of automobile insurance or refuses to provide or continue any coverage or endorsement in respect of a contract of automobile insurance; 17.  prescribing grounds for which an insurer cannot, in circumstances specified by the regulations, decline to issue, terminate or refuse to renew a contract of automobile insurance or refuse to provide or continue any coverage or endorsement in respect of a contract of automobile insurance; 18.  prescribing coverages and endorsements for the purposes of section 237; 19.  governing the payment of premiums for automobile insurance in instalments and setting maximum rates of interest in relation to instalment payments; 19.1  prescribing types of contracts and circumstances in which section 236 does not apply; 20.  exempting any insurer, and exempting any insurer in respect of certain types of contracts of automobile insurance, from section 236; 20.1  prescribing information to be provided under clause 258.3 (1) (c) and the time period within which the information must be provided for the purpose of that clause; 20.2  prescribing procedures and time limits applicable to mediations required by section 258.6; 20.3  prescribing circumstances in which a contract or part of a contract providing insurance against loss of or damage to an automobile and the loss of use thereof must contain a clause described in subsection 261 (1.1); 20.4  prescribing a minimum or maximum sum to be deducted under a clause described in clause 261 (1) (b) or subsection 261 (1.1); 21.  prescribing rules for determining the degree of fault in various situations for loss or damage arising directly or indirectly from the use or operation of an automobile; 22.  providing for and governing indemnification and subrogation where section 263 applies; Note: On January 1, 2024, the day named by proclamation of the Lieutenant Governor, subsection 121 (1) of the Act is amended by adding the following paragraph: (See: 2020, c. 36, Sched. 22, s. 2 (2)) 22.0.1 respecting elections under subsection 263 (2.2); 22.1  prescribing classes of contracts for the purpose of subsection 263 (5.1); 22.2  prescribing circumstances in which a contract belonging to a class prescribed under paragraph 22.1 must contain a provision described in subsection 263 (5.2.1); 22.3  prescribing the minimum or maximum amount of a reduction required by a provision described in clause 263 (5.1) (b) or subsection 263 (5.2.1); 23.  prescribing any activity or failure to act that constitutes an unfair or deceptive act or practice under the definition of “unfair or deceptive acts or practices” in section 438, and prescribing requirements that, if not complied with, constitute an unfair or deceptive act or practice; 23.1  defining permanent serious impairment of an important physical, mental or psychological function for the purpose of section 267.5; 23.2  respecting the evidence that must be adduced to prove that a person has sustained permanent serious impairment of an important physical, mental or psychological function for the purposes of section 267.5; 23.3  prescribing the method for determining net income loss and net loss of earning capacity for the purpose of paragraphs 2 and 3 of subsection 267.5 (1); 23.4  defining catastrophic impairment for the purpose of subsection 267.5 (4); 23.5  prescribing amounts for the purpose of sub-subparagraph B of subparagraph i of paragraph 3 of subsection 267.5 (7) and sub-subparagraph B of subparagraph ii of paragraph 3 of subsection 267.5 (7); 23.6  prescribing circumstances in which the court shall order that an award for damages be paid periodically under section 267.10; 23.6.1 for the purpose of this Act or any provision of this Act, deeming payments for income loss or loss of earning capacity under an income continuation benefit plan to include payments prescribed by the regulations; 23.6.2 prescribing types of amounts and the manner of determining any type of amount for the purposes of clause 267.12 (2) (c); 23.6.3 prescribing types of amounts and the manner of determining any type of amount for the purposes of clause 267.12 (3) (c); 23.6.4 prescribing, for the purposes of subsection 267.12 (4), i.  circumstances in which subsection 267.12 (1) does not apply, ii.  persons or classes of persons to whom subsection 267.12 (1) does not apply, iii.  motor vehicles or classes of motor vehicles to which subsection 267.12 (1) does not apply, iv.  terms, conditions, provisions, exclusions and limits for the purposes of determining if subsection 267.12 (1) applies in particular circumstances or to a prescribed person, prescribed class of persons, prescribed motor vehicle or prescribed class of motor vehicles; 23.6.5 defining the terms “taxicab”, “livery vehicle” and “limousine for hire” for the purposes of clause 267.12 (4) (c); 23.7  prescribing the information to be provided under section 273.1 and the conditions governing the provision of the information; 24.  prescribing classes of persons, classes of automobiles and terms, conditions, provisions, exclusions and limits for the purposes of subsection 275 (1); 25.  Repealed: 2014, c. 9, Sched. 3, s. 11 (1). 25.1  governing agreements to settle claims and disputes in respect of statutory accident benefits under Part VI; 25.2  governing the assignment of statutory accident benefits under Part VI, including the application of sections 279 to 282 to persons to whom the benefits are assigned; 26.  governing proceedings before the Licence Appeal Tribunal under section 280, including imposing time limits or limitation periods; 26.0.0.1 prescribing anything that, in sections 288.1 to 288.7, is required or permitted to be prescribed or to be done in accordance with the regulations; Note: On a day to be named by proclamation of the Lieutenant Governor, paragraph 26.0.0.1 of subsection 121 (1) of the Act is amended by striking out “sections 288.1 to 288.7” and substituting “sections 288.1 and 288.2”. (See: 2017, c. 34, Sched. 21, s. 9 (4)) 26.0.1 exempting a contract or class of contracts from the application of Part VII, any provision or requirement of Part VII or any regulation or provision or requirement of a regulation made in respect of Part VII, postponing, for any contract or class of contracts, the application of Part VII or any such provision or requirement to a specified date and applying a provision of Part VII for a specified period on and after the date it was re-enacted, repealed or amended by Schedule 23 to the Strong Action for Ontario Act (Budget Measures), 2012, as it read immediately before that date, to a contract or class of contracts; 26.1  prescribing such matters as are required or permitted to be prescribed under sections 380.1 to 386 with respect to reciprocal insurance exchanges; 27.  Repealed: 2014, c. 9, Sched. 3, s. 11 (4). 28.  extending the provisions of this Act or any of them to a system or class of insurance not particularly mentioned in this Act; 28.0.1 respecting any matter necessary or advisable to carry out effectively the intent and purpose of sections 392.2 to 392.7; 28.1  exempting a person or class of persons from subsection 392.2 (6) or 397 (7) or section 401, subject to such terms and conditions, including any limitations or restrictions, as may be specified in the regulations; 28.2  governing the sale and marketing of prescribed classes of insurance to members of a group, including prescribing and regulating qualifications for membership in groups; 28.3  Repealed: 2014, c. 9, Sched. 3, s. 11 (6). 28.3.1 respecting the application of Part VII to insurance described in clause 291 (3) (c); 28.3.2 prescribing information for which access is limited under clause 293 (8) (b); 28.3.3 for the purpose of subsection 313 (1.2), respecting the circumstances under which an insurer may not restrict or exclude in a contract of accident and sickness insurance the right of an insured to designate persons to whom or for whose benefit insurance money is to be payable and respecting the restriction or exclusion in a contract of such right; 28.3.4 prescribing the rights the insured may exercise under a contract of accident and sickness insurance in the circumstances described in subsection 317.1 (2); 28.4  prescribing persons or classes of persons for the purposes of subsection 398 (3) and prescribing terms and conditions governing persons engaged in an activity set out in subsection 398 (1); 29.  governing group insurance contracts or schemes, or any class thereof including prescribing and regulating their terms and conditions, qualifications for membership in groups and regulating the marketing of group insurance contracts or schemes; 30.-32.  Repealed: 2006, c. 33, Sched. O, s. 6 (5). 33.  governing the advertising of insurance contracts or any class thereof including prescribing and regulating the form and content of advertisements and requiring their filing; 33.1  governing the collection, use and disclosure of personal information by insurers or a class of insurers and, for that purpose, defining personal information; 34.  prescribing types of contracts of automobile insurance and types of endorsements to contracts of automobile insurance in respect of which sections 410 to 417 apply; 34.1  prescribing percentages, criteria and elements of risk classification systems for the purposes of subsection 411 (1); 34.2  prescribing circumstances in which the Tribunal is required to hold a hearing on an application under section 410 to which section 411 does not apply; 35.  prescribing coverages and categories of automobile insurance that may be provided by insurers and prescribing coverages and categories of automobile insurance that insurers are prohibited from providing; 36.  prescribing a risk classification system or elements of a risk classification system that must be used by insurers or a class of insurers in classifying risks for a coverage or category of automobile insurance; 36.1  prescribing elements of a risk classification system that insurers or a class of insurers are prohibited from using in classifying risks for a coverage or category of automobile insurance; 36.2  prescribing, for the purpose of section 413.1, maximum monetary amounts and percentages by which the rate for a class of risks in respect of a coverage or category of automobile insurance may increase or decrease as a result of the application of a regulation made under paragraph 36 or 36.1; 37.  prescribing criteria that must be considered in determining whether to give an approval for the purposes of any provision in Part XVII that refers to approval being given, other than subsection 435.1 (2); 37.0.0.1 prescribing criteria that must be considered in determining whether to give an approval for the purposes of any provision in Part XVII.1 that refers to approval being given; 37.0.1 prescribing amounts incurred by the Ministry of Health and Long-Term Care that may be subject to an assessment under section 14.1 and governing assessments under that section; 37.0.2 governing assessments under section 282; 37.1  respecting the relations between insurers, agents or brokers and, i.  entities that undertake the business of financial services, ii.  financial services intermediaries, and iii.  customers of persons and entities referred to in subparagraphs i and ii; 37.2  respecting networking arrangements between insurers and other persons providing products or services to the insurer or its customers; 37.3  prohibiting or restricting networking arrangements; 37.4  governing the conduct of insurers, agents and brokers in networking arrangements; 38.  generally for the better administration of this Act. R.S.O. 1990, c. I.8, s. 121 (1); 1993, c. 10, s. 12 (1-13); 1994, c. 11, s. 338; 1996, c. 21, s. 14 (1-8); 1997, c. 19, s. 10 (22-24); 1997, c. 28, s. 107 (1-3); 1999, c. 12, Sched. I, s. 4 (14, 15); 2002, c. 18, Sched. H, s. 4 (14); 2002, c. 22, s. 114; 2004, c. 31, Sched. 20, s. 6; 2005, c. 31, Sched. 12, s. 1; 2006, c. 19, Sched. L, s. 11 (3); 2006, c. 33, Sched. O, s. 6 (1-5); 2011, c. 9, Sched. 21, s. 1; 2012, c. 8, Sched. 23, s. 3 (1); 2013, c. 2, Sched. 8, s. 5 (1); 2014, c. 9, Sched. 3, s. 11 (1-7); 2017, c. 34, Sched. 21, s. 9 (1, 3, 5); 2020, c. 34, Sched. 7, s. 3; 2020, c. 36, Sched. 22, s. 2 (1). Note: On a day to be named by proclamation of the Lieutenant Governor, paragraphs 3, 5, 6, 7, 8, 11, 11.1, 12, 13, 14, 14.0.1, 14.0.3, 14.0.4, 14.0.5, 15, 17, 18, 19, 19.1, 20, 23, 26.1, 28, 28.2, 28.3.2, 28.3.3, 28.3.4, 29, 33, 33.1, 34, 34.1, 34.2, 35, 36, 36.1, 36.2, 37.1, 37.2, 37.3 and 37.4 of subsection 121 (1) of the Act are repealed. (See: 2017, c. 34, Sched. 21, s. 9 (2)) Regulations re transfer of Commission, Superintendent powers, duties and functions (2) The Lieutenant Governor in Council may make regulations, (a)  providing for the transfer of powers conferred on, duties assigned to and functions of the Superintendent under this Act to the Authority or to the Chief Executive Officer; (b)  providing for the transfer of powers conferred on, duties assigned to and functions of the Commission under this Act to the Authority or to the Chief Executive Officer; (c)  deeming references in this Act or the regulations to the Superintendent or the Commission to be references to the Authority or the Chief Executive Officer; (d)  governing transitional matters that may arise due to the transfers described in clauses (a) and (b) or the deeming of references described in clause (c). 2017, c. 34, Sched. 21, s. 9 (6); 2018, c. 17, Sched. 21, s. 2. Same (2.0.1) A regulation made under subsection (2) is subject to such conditions, limitations and restrictions as may be prescribed. 2017, c. 34, Sched. 21, s. 9 (6). Conflicts (2.0.2) If there is a conflict between a regulation made under subsection (2) and any Act or any other regulation, the regulation made under subsection (2) prevails, unless the Act or other regulation specifies that it prevails. 2017, c. 34, Sched. 21, s. 9 (6). (2.1) Repealed: 2019, c. 14, Sched. 9, s. 20. Adoption by reference (2.2) A regulation made under subsection (1) may adopt by reference, in whole or in part, with such changes as the Lieutenant Governor in Council considers necessary, any code, standard or guideline, as it reads at the time the regulation is made or as amended from time to time, whether before or after the regulation is made. 1996, c. 21, s. 14 (9). (3) Repealed: 1996, c. 21, s. 14 (10). Same (4) The regulations made under paragraphs 9 and 10 of subsection (1), (a)  may establish procedures applicable to benefits; (b)  may prescribe the burden of proof and standard of proof applicable in a proceeding before the Licence Appeal Tribunal under section 280; (c)  may require that a person be examined or assessed, (i)  by an assessment centre designated by a committee appointed under section 7, in accordance with procedures, standards and guidelines established by that committee or by the Minister, or (ii)  by any other person specified by the regulations; (d), (e)  Repealed: 1996, c. 21, s. 14 (12). Note: Clauses 121 (4) (c), (d) and (e), as they read immediately before November 1, 1996, continue to apply to regulations made under paragraphs 9 and 10 of subsection 121 (1) in respect of benefits arising from the use or operation, after December 31, 1993 and before November 1, 1996, of an automobile.  See:  1996, c. 21, s. 14 (14), 52. (f)  may authorize the payment of a benefit directly to a minor for the purpose of subsection 271 (1.4); (g)  may provide for the use of forms prescribed by the regulations or approved by the Chief Executive Officer; and (h)  may designate jurisdictions for the purpose of any provision of this or any other Act that refers to jurisdictions designated in the Statutory Accident Benefits Schedule. 1993, c. 10, s. 12 (14); 1996, c. 21, s. 14 (11-14); 1997, c. 28, s. 107 (4); 2014, c. 9, Sched. 3, s. 11 (8); 2018, c. 8, Sched. 13, s. 22. Classes, service provider’s licences (4.1) For greater certainty, a regulation made under paragraph 26.0.0.1 of subsection (1) may create different classes of service provider’s licences and may establish different requirements, conditions and restrictions for each class. 2013, c. 2, Sched. 8, s. 5 (2). Note: On a day to be named by proclamation of the Lieutenant Governor, subsection 121 (4.1) of the Act is repealed. (See: 2017, c. 34, Sched. 21, s. 9 (7)) Regulations, Part II.2 (5) The Lieutenant Governor in Council may make regulations, 1.  prescribing the circumstances in which an individual is affiliated with an insurer for the purposes of Part II.2; 2.  governing the establishment and operation of committees of insurers, including setting out requirements respecting the composition, membership, quorum, powers and duties of committees established by the directors of insurers; 3.  exempting any insurer or class of insurers from Part II.2 or from any provision of that Part or the regulations made for the purposes of that Part, subject to such conditions as may be set out in the exempting regulations; 4.  prescribing anything that is referred to in Part II.2 as being prescribed by the regulations or determined under the regulations. 2006, c. 33, Sched. O, s. 6 (6). Note: On a day to be named by proclamation of the Lieutenant Governor, subsection 121 (5) of the Act is repealed. (See: 2017, c. 34, Sched. 21, s. 9 (7)) Regulations, Part XVII (6) The Lieutenant Governor in Council may make regulations, 1.  with respect to the definition of “commercial loan” in subsection 432 (1), i.  prescribing an amount for the purposes of subclause (a) (i) of the definition, ii.  prescribing international agencies and other entities for the purposes of subclauses (a) (iii) and (b) (ii) of the definition, iii.  prescribing rules for determining amounts for the purposes of subclause (a) (v) and sub-subclauses (a) (vi) (A), (a) (vii) (A) and (a) (viii) (A) of the definition, and iv.  defining “widely distributed” for the purposes of subclauses (b) (iv) and (c) (i) of the definition; 2.  prescribing classes of subsidiaries of insurers for the purposes of the definition of “prescribed subsidiary” in subsection 432 (1); 3.  prescribing permitted entities and classes of permitted entities in which an insurer may acquire, hold or increase a substantial investment and prescribing any circumstances or conditions that must be satisfied for an entity to be a permitted entity for the purposes of Part XVII; 4.  prescribing interests in real property for the purposes of Part XVII; 5.  respecting the investment by insurers in permitted entities, including restrictions and limits on investments in permitted entities and rules relating to the form of the investments in permitted entities; 6.  prescribing undertakings and information for the purposes of subsections 435.1 (4) and (5); 7.  prescribing circumstances in which an insurer or a member of a class of insurers may acquire, hold or increase a substantial investment in an entity or a class of entities; 8.  prescribing conditions for the purposes of clauses 435.3 (1) (c) and (d); 9.  prescribing circumstances for the purposes of clause 435.3 (4) (a), 435.4 (4) (a) or 435.6 (4) (a); 10.  Repealed: 2019, c. 14, Sched. 9, s. 20. 11.  prescribing circumstances for the purposes of clause 435.6 (1) (f); 12.  prescribing rules for determining the various financial limits referred to in Part XVII; 13.  prescribing restrictions or conditions on the making of investments or loans or on acquiring an interest in property for the purposes of section 435.7; 14.  prescribing circumstances for the purposes of subsection 435.8 (1); 15.  prescribing requirements for the purposes of subsection 435.8 (3); 16.  prescribing an amount or rules for determining an amount for the purposes of, i.  Repealed: 2019, c. 14, Sched. 9, s. 20. ii.  subsection 435.9 (2), iii.  section 435.10, iv.  subsection 435.11 (2), v.  subsection 435.12 (2); 17.  prescribing rules for determining the value of assets and an insurer’s total assets for the purposes of section 435.14; 18.  prescribing rules and circumstances for the purposes of clause 435.14 (3) (c); 19.  exempting any insurer or class of insurers from Part XVII or from any provision of that Part or the regulations made for the purposes of that Part, subject to such conditions as may be set out in the exempting regulations; 20.  providing that one or more of the financial limits prescribed for the purposes of Part XVII do not apply in respect of an insurer or class of insurers or with respect to an investment or class of investments, or both, and prescribing when the financial limit does not apply and any conditions that must be satisfied for the financial limit not to apply; 21.  prescribing criteria that the Chief Executive Officer shall consider in determining whether to give an approval for the purposes of any provision in Part XVII that refers to the approval of the Chief Executive Officer, other than subsection 435.1 (2); 22.  prescribing anything that is referred to in Part XVII as being prescribed by the regulations or determined under the regulations. 2006, c. 33, Sched. O, s. 6 (6); 2018, c. 8, Sched. 13, s. 22; 2019, c. 14, Sched. 9, s. 20. Note: On a day to be named by proclamation of the Lieutenant Governor, subsection 121 (6) of the Act is repealed. (See: 2017, c. 34, Sched. 21, s. 9 (7)) Regulations, Part XVII.1 (7) The Lieutenant Governor in Council may make regulations, 1.  exempting any insurer or class of insurers from Part XVII.1 or from any provision of Part XVII.1 or the regulations made for the purposes of that Part, subject to such conditions as may be set out in the exempting regulations; 2.  prescribing holding companies and circumstances for the purposes of clause 437.13 (2) (c); 3.  prescribing circumstances in which an insurer may enter into a transaction with a related party and setting out conditions respecting such transactions; 4.  prescribing conditions and circumstances under which a transaction entered into by a subsidiary of an insurer will not be deemed to have been entered into by the insurer; 5.  prescribing rules and conditions relating to transactions between insurers and related parties; 6.  prescribing, for the purposes of paragraph 1 of subsection 437.18 (1), i.  a nominal amount or rules for determining what constitutes a nominal amount, and ii.  what constitutes a transaction that is immaterial to an insurer or rules for determining what constitutes an immaterial transaction; 7.  prescribing conditions for the purposes of subparagraph 4 i and rules for the purposes of subparagraph 4 ii of subsection 437.18 (1); 8.  prescribing permitted transactions for the purposes of paragraphs 10 and 16 of subsection 437.18 (1); 9.  prescribing transactions between an insurer and a related party that are permitted for the purposes of subsection 437.18 (4) despite the fact that they are not on terms and conditions at least as favourable to the insurer as market terms and conditions; 10.  prescribing an amount or rules for determining an amount for the purposes of subsection 437.19 (2); 11.  prescribing for the purposes of subsection 437.19 (6), i.  types or classes of transactions, ii.  rules for determining the total value of transactions, and iii.  an amount or rules for determining an amount; 12.  prescribing for the purposes of subsection 437.19 (7), i.  types or classes of transactions that require approval of the directors of an insurer, ii.  rules for determining the total value of transactions, iii.  an amount or rules for determining an amount, and iv.  what constitutes approval, including prescribing a minimum percentage of directors who must approve; 13.  prescribing criteria that the Chief Executive Officer shall consider in determining whether to give an approval for the purposes of any provision in Part XVII.1 that refers to the approval of the Chief Executive Officer; 14.  prescribing anything that is referred to in Part XVII.1 as being prescribed by the regulations or determined under the regulations. 2006, c. 33, Sched. O, s. 6 (6); 2018, c. 8, Sched. 13, s. 22. Note: On a day to be named by proclamation of the Lieutenant Governor, subsection 121 (7) of the Act is repealed. (See: 2017, c. 34, Sched. 21, s. 9 (7)) Regulations, Part XVIII.1 (7.1) The Lieutenant Governor in Council may make regulations governing the administrative penalties that may be imposed under sections 441.3 and 441.4 and, without limiting the generality of the foregoing, may make regulations, (a)  prescribing provisions of this Act, the regulations or the Authority rules for the purposes of sections 441.3 and 441.4; (b)  prescribing criteria the Chief Executive Officer is required or permitted to consider when imposing a penalty under section 441.3 or 441.4; (c)  prescribing the amount of a penalty, or the method for calculating the amount of a penalty, and prescribing different penalties or ranges of penalties for different types of contraventions or failures to comply and for different classes of persons; (d)  authorizing the Chief Executive Officer to determine the amount of a penalty, if the amount of the penalty or the method for calculating the amount of the penalty is not prescribed, and prescribing criteria the Chief Executive Officer is required or permitted to consider when determining this; (e)  authorizing a penalty to be imposed for each day or part of a day on which a contravention or failure to comply continues; (f)  authorizing higher penalties (not to exceed the maximum penalty established under section 441.5 or prescribed under clause (j)) for a second or subsequent contravention or failure to comply by a person; (g)  governing the manner of paying the penalties; (h)  requiring that a penalty be paid before a specified deadline or before a deadline specified by the Chief Executive Officer; (i)  authorizing the imposition of late payment fees respecting penalties that are not paid before the deadline, including graduated late payment fees; (j)  prescribing lesser maximum administrative penalties and the requirements established under this Act to which the lesser maximum penalties apply for the purpose of subsection 441.5 (1) or (2). 2012, c. 8, Sched. 23, s. 3 (2); 2018, c. 8, Sched. 13, s. 22; 2021, c. 8, Sched. 5, s. 1. General or particular (8) A regulation made under subsection (5), (6), (7) or (7.1) may be general or particular. 2006, c. 33, Sched. O, s. 6 (6); 2012, c. 8, Sched. 23, s. 3 (3). Note: On a day to be named by proclamation of the Lieutenant Governor, subsection 121 (8) of the Act is amended by striking out “(5), (6), (7) or”. (See: 2017, c. 34, Sched. 21, s. 9 (8)) Same – classes (9) For greater certainty, a regulation made under subsection (5), (6), (7) or (7.1) with respect to a class of insurers may be made with respect to any class as described in the regulation and is not limited to the classes of insurers set out in subsection 42 (1). 2006, c. 33, Sched. O, s. 6 (6); 2012, c. 8, Sched. 23, s. 3 (4). Note: On a day to be named by proclamation of the Lieutenant Governor, subsection 121 (9) of the Act is amended by striking out “(5), (6), (7) or”. (See: 2017, c. 34, Sched. 21, s. 9 (9)) Section Amendments with date in force (d/m/y) 1993, c. 10, s. 12 (1-14) - 01/01/1994; 1994, c. 11, s. 338 - 11/02/1995; 1996, c. 21, s. 14 (1-14) - 01/11/1996; 1997, c. 19, s. 10 (22-24) - 10/10/1997; 1997, c. 28, s. 107 (1-4) - 01/07/1998; 1999, c. 12, Sched. I, s. 4 (14, 15) - 22/12/1999 2000, c. 26, Sched. G, s. 1 (2) - See: Table of Public Statute Provisions Repealed Under Section 10.1 of the Legislation Act, 2006 - 31/12/2011 2002, c. 18, Sched. H, s. 4 (14) - 30/04/2007; 2002, c. 22, s. 114 - 01/10/2003 2004, c. 31, Sched. 20, s. 6 - 30/04/2007 2005, c. 31, Sched. 12, s. 1 - 01/03/2006 2006, c. 19, Sched. L, s. 11 (3) - 22/06/2006; 2006, c. 33, Sched. O, s. 6 (1-6) - 05/05/2008 2011, c. 9, Sched. 21, s. 1 - 12/05/2011 2012, c. 8, Sched. 23, s. 3 (1) - 01/07/2016; 2012, c. 8, Sched. 23, s. 3 (2-4) - 01/01/2013 2013, c. 2, Sched. 8, s. 5 (1, 2) - 01/06/2014 2014, c. 7, Sched. 14, s. 2; - not in force; 2014, c. 9, Sched. 3, s. 11 (1-4, 6-8) - 01/04/2016; 2014, c. 9, Sched. 3, s. 11 (5) - 01/01/2015 2016, c. 5, Sched. 14, s. 2 - no effect - see 2018, c. 8, Sched. 13, s. 25 - 08/05/2018 2017, c. 34, Sched. 21, s. 9 (1, 5, 6) - 08/06/2019; 2017, c. 34, Sched. 21, s. 9 (3) - 30/04/2018; 2017, c. 34, Sched. 21, s. 9 (2, 4, 7-9) - not in force 2018, c. 8, Sched. 13, s. 22 - 08/06/2019; CTS 04 SE 18 - 1; 2018, c. 17, Sched. 21, s. 2 - 08/06/2019 2019, c. 14, Sched. 9, s. 20 - 10/12/2019 2020, c. 34, Sched. 7, s. 3 (1-3) - 01/07/2022; 2020, c. 36, Sched. 22, s. 2 (1) - 01/01/2022; 2020, c. 36, Sched. 22, s. 2 (2) - 01/01/2024 2021, c. 8, Sched. 5, s. 1 - 01/04/2022