Source: http://www.bclaws.ca/EPLibraries/bclaws_new/document/ID/freeside/96141_06
Timestamp: 2017-12-11 13:25:38
Document Index: 682498597

Matched Legal Cases: ['art 6', 'art 3', 'art 5', 'art 7', 'art 8', 'art 10', 'art 3', 'art 5', 'art 7', 'art 8', 'art 10', 'art 7']

Part 6 — Regulation of Other Persons
Division 1 — Extraprovincial Corporations
157 In this Part, "primary jurisdiction",
(a) in relation to an extraprovincial corporation that is licensed, registered or authorized to do business under law enacted by the Parliament of Canada, means Canada, and
(b) in relation to an extraprovincial corporation whose primary jurisdiction is not Canada and that is
(i) incorporated or continued, and
(ii) licensed, registered or authorized to do business
158 (1) Sections 33, 63, 64, 66, 67 (1) and (2.1), 79, 91, 93, 94, 96, 130, 211, 213 to 215, 244 to 246, 249, 250, 252 (3), (5) and (6) and 253.1 to 253.3 apply to and in respect of an extraprovincial corporation.
(2) In addition to the sections referred to in subsection (1), sections 65, 86, 210, 247 and 259 apply to and in respect of an extraprovincial corporation, except for an extraprovincial corporation whose primary jurisdiction is Canada.
(3) In addition to the sections referred to in subsection (1), sections 67 (2) and (2.1) and 136 (1) and (2) apply to and in respect of the following:
(a) an extraprovincial corporation whose primary jurisdiction is not Canada or a province;
(b) an extraprovincial corporation whose primary jurisdiction is a province that is not designated under subsection (5) for the purposes of this section in respect of that type of extraprovincial corporation.
(4) For the purposes of subsections (1) to (3), references in the sections referred to in those subsections
(a) to "trust company" must be read as including "extraprovincial trust corporation",
(b) to "insurance company" must be read as including "extraprovincial insurance corporation",
(c) to "credit union" must be read as including "extraprovincial credit union", and
(d) to "financial institution" must be read as including "extraprovincial corporation".
(5) The Lieutenant Governor in Council by regulation may designate a province for the purposes of this section and of section 160 in respect of a specified type of extraprovincial corporation and, in determining whether to make such a designation, the Lieutenant Governor in Council may have regard to whether
(a) legislation similar to this Act has been enacted by the legislature of the province concerned, and
(b) the province concerned has adequate administrative, inspection, audit and compliance procedures and is adequately applying those procedures.
(6) Nothing in this Division affects the applicability to an extraprovincial corporation of a provision that is contained in any other section of this Act or in the regulations and that is of
(a) specific application to an extraprovincial corporation, or
(b) general application.
159 (1) An extraprovincial corporation must not carry on trust business, deposit business or insurance business in British Columbia unless it has a business authorization.
(2) A business authorization issued to an extraprovincial trust corporation
(a) must be confined to trust business, or
(b) in respect of an extraprovincial trust corporation whose primary jurisdiction is Canada, may authorize both trust business and deposit business provided that the extraprovincial trust corporation maintains prescribed deposit insurance
(3) Despite subsection (2), a business authorization issued to an extraprovincial trust corporation other than an extraprovincial trust corporation referred to in subsection (2) (b), before the date this section comes into force, that authorizes deposit business, or trust business and deposit business, remains in effect, subject to the maintenance by the extraprovincial trust corporation of prescribed deposit insurance, and to
(a) a subsequent surrender of the business authorization or an amendment that removes its authorization to carry on deposit business,
(b) the suspension, revocation or cancellation of the business authorization, or
(c) a continuation or amalgamation of the extraprovincial trust corporation referred to in section 18 or 20 that does not, in the commission's opinion and in its sole discretion, meet the prescribed criteria.
(4) A business authorization issued to an extraprovincial insurance corporation
(5) A business authorization issued to an extraprovincial credit union
(a) may be confined to deposit business, or
(b) may authorize both trust business and deposit business.
160 (1) The following extraprovincial corporations may file with the commission an application for a business authorization, in the form established by the commission, in accordance with this section:
(a) an extraprovincial trust corporation or extraprovincial credit union whose primary jurisdiction is not Canada;
(b) an extraprovincial trust corporation or extraprovincial credit union whose primary jurisdiction is Canada;
(c) an extraprovincial insurance corporation whose primary jurisdiction is not Canada, or a province that is designated under section 158 (5) for the purposes of that section and this section in respect of extraprovincial insurance corporations;
(d) an extraprovincial insurance corporation whose primary jurisdiction is Canada, or a province that is designated under section 158 (5) for the purposes of that section and this section in respect of extraprovincial insurance corporations.
(2) The commission may issue a business authorization to an extraprovincial corporation in accordance with subsections (3) and (4) and must issue a business authorization to an extraprovincial corporation in accordance with subsection (6).
(3) The commission may issue a business authorization to an extraprovincial corporation referred to in subsection (1) (a) or (c) if
(a) the corporation provides information in support of its application that is satisfactory to the commission,
(b) the commission is satisfied that the corporation has liquid assets and a capital base that
(i) is at least equal to the applicable minimum required by regulations under section 67, and
(ii) is adequate in relation to the business that the corporation proposes to carry on,
(c) the corporation provides
(i) financial statements in the form established by the commission that have been approved by a resolution of the directors, and
(ii) a report of the auditor of the corporation
(d) the corporation has a proposed plan of operations that is feasible,
(e) in the case of an extraprovincial insurance corporation, there is an insurance compensation plan designated by regulation for the purposes of section 66 (2) and the commission is satisfied that the corporation will not carry on a class of insurance business in respect of which insurance is offered under the plan unless the corporation is a member of the plan,
(f) in the case of an extraprovincial credit union, the commission is satisfied that, in its primary jurisdiction, a credit union from British Columbia could be authorized to carry on business as an extraprovincial corporation, and
(g) the commission is satisfied
(i) with the corporation's business record and past performance respecting deposit business, insurance business or trust business, and
(ii) that the corporation's operations in British Columbia will be conducted responsibly by persons with the competence and experience suitable for involvement in the operation of a financial institution.
(4) The commission must not issue a business authorization under subsection (3) if
(a) the commission believes on reasonable grounds that it is not in the public interest to issue the business authorization, or
(b) in the case of an extraprovincial credit union, the commission has not received the consent of the deposit insurance corporation.
(5) Before issuing a business authorization to an extraprovincial corporation under subsection (3), the commission may
(b) require the extraprovincial corporation to provide the commission with additional information, documents, verifications or forecasts of business operations
(6) The commission must issue a business authorization to an extraprovincial corporation referred to in subsection (1) (b) or (d) if the corporation provides information in support of its application that is satisfactory to the commission.
161 The commission's power under section 236 to impose conditions includes the power to impose as a condition of a business authorization issued to an extraprovincial corporation that it use "Caisse Populaire", "Credit Union", "Trust", "TrustCo", "Deposit", "Insurance" or other prescribed words as part of the name in which it carries on business in British Columbia.
162 An extraprovincial corporation to which a business authorization has been issued must maintain facilities that the superintendent considers satisfactory by which the superintendent may obtain access to,
(a) if the extraprovincial corporation is authorized to carry on deposit business, a record of all persons whose money is deposited with the extraprovincial corporation, showing the names and addresses of those persons and the amount deposited by or on behalf of each,
(b) if the extraprovincial corporation is authorized to carry on trust business, full and adequate records respecting the fiduciary activities carried on by the extraprovincial corporation,
(c) a record of all loans and investments made by the extraprovincial corporation, and
(d) if the extraprovincial corporation is authorized to carry on insurance business,
(i) a record of contracts of insurance in which the extraprovincial corporation is an insurer, and
(ii) a record of contracts of reinsurance and reinsurance treaties in which the extraprovincial corporation is an insurer or insured.
Annual audited statements required
163 (1) Subject to subsection (2), within 90 days after the end of its financial year in each year, an extraprovincial corporation must file with the superintendent a return in the form established by the superintendent outlining its financial condition and affairs during that financial year and must attach to the return
(a) a copy of any financial statements for that financial year of the extraprovincial corporation and of any auditor's report on them that must be filed with the proper authority in the primary jurisdiction of the extraprovincial corporation, and
(b) if the extraprovincial corporation is a subsidiary of another corporation, a copy of any annual financial statements for that financial year of that other corporation and of any auditor's report on them.
(2) An extraprovincial insurance corporation must, within 60 days after the end of its financial year in each year, file with the superintendent a return referred to in subsection (1).
Requirement for notice of regulatory action outside British Columbia
164 (1) If
(a) an extraprovincial corporation, pursuant to extraprovincial legislation, enters into a program of voluntary compliance similar to a voluntary compliance agreement referred to in section 244,
(b) an extraprovincial corporation is the subject of an order similar to an order referred to in section 244, 245, 247 or 251,
(c) an extraprovincial corporation, pursuant to extraprovincial legislation, is the subject of an investigation or an inquiry,
(d) under extraprovincial legislation, conditions or restrictions are placed on the licence, registration or business authorization of an extraprovincial corporation,
(e) an extraprovincial corporation is placed under the control of a public official,
(f) an extraprovincial corporation's licence, registration or business authorization, issued pursuant to extraprovincial legislation, is suspended or revoked,
(g) an extraprovincial corporation has been convicted of an offence in Canada or another jurisdiction arising from a transaction, business or course of conduct related to financial services, or
(h) an extraprovincial corporation has been found by a regulator in Canada or another jurisdiction to have contravened the laws of that jurisdiction respecting financial services,
the extraprovincial corporation must inform the superintendent immediately in writing of that fact.
(2) If the superintendent receives information under subsection (1) (a), (b), (c) or (d), then
(a) the commission by order under section 236 may impose conditions on the business authorization issued to the extraprovincial corporation under this Act, and
(b) the superintendent may require the extraprovincial corporation to file with the superintendent within a time the superintendent requires documents that the superintendent considers relevant to the situation disclosed by that information.
(3) If the superintendent receives information under subsection (1) (e) or (f), the commission must take action under section 249.
Examination of extraprovincial corporations
165 (1) At any time the superintendent may conduct an examination or cause a person acting under the superintendent's direction to conduct an examination of the condition and affairs of an extraprovincial corporation.
(2) On an examination under this section, the superintendent or other person must make reasonable inquiries respecting
(a) the extraprovincial corporation's condition and ability to meet its obligations as and when they become due,
(b) the adequacy of the extraprovincial corporation's business and financial practices and of its management procedures and standards, and
(i) any order made under this Act,
(ii) a condition under which a consent under this Act is given, or
(3) The superintendent or other person may conduct an examination under this section at the principal place of business and at any office of the extraprovincial corporation or of any affiliate of the extraprovincial corporation.
(4) Instead of making an examination under this section, the superintendent may accept and rely on a report made by an official of the primary jurisdiction of the extraprovincial corporation.
166 (1) If an extraprovincial corporation authorized under this Part to carry on business in British Columbia amalgamates with one or more extraprovincial corporations, all of which are authorized under this Part to carry on the same kind of business in British Columbia as the first extraprovincial corporation, it must file with the commission
(a) the written consent to the amalgamation from the appropriate official of the corporation's primary jurisdiction, and
(b) any other documents or information required by the superintendent,
(2) An amalgamated corporation referred to in subsection (1) may carry on business, as directed by the commission, under the existing business authorization issued with respect to one of the amalgamating corporations until the commission has issued the amalgamated corporation a new business authorization under subsection (1).
(3) If an extraprovincial corporation authorized under this Part to carry on business in British Columbia amalgamates with one or more extraprovincial corporations, one or more of which are not authorized under this Part to carry on the same kind of business in British Columbia as the first extraprovincial corporation, it must file with the commission
(b) any other documents or information required by the superintendent.
(4) On receipt of the written consent, documents and information required under subsection (3), the commission may
(a) issue the appropriate business authorization for which the amalgamated extraprovincial corporation would qualify under this Part, or
(b) direct the amalgamated corporation referred to in subsection (3) to apply for a business authorization.
(5) The commission must not issue a business authorization under subsection (4) (a) if the commission believes on reasonable grounds that it is not in the public interest.
(6) An amalgamated corporation referred to in subsection (3) may continue to carry on business, as directed by the commission, under the existing business authorization issued with respect to one of the amalgamating corporations until a new business authorization has been
(a) issued to the amalgamated corporation by the commission, or
(b) refused by the commission.
(7) If the commission has refused an application from an extraprovincial corporation for a business authorization referred to in subsection (4) (b), the extraprovincial corporation may carry on business under its existing business authorization only to the extent permitted by section 249 (8) as it applies for the purposes of this Part.
Notice of ceasing business
167 An extraprovincial corporation that has a business authorization must give 30 days' advance notice in writing to the superintendent of
(a) any action it takes that is intended to lead to it being wound up voluntarily, or
(b) ceasing to carry on business in British Columbia.
Division 2 — Insurance Agents and Adjusters
168 In this Division, unless the context otherwise requires,
"insurance agent" means a person, other than an insurance company or an extraprovincial insurance corporation, who solicits, obtains or takes an application for insurance, or negotiates for or procures insurance, or signs or delivers a policy, or collects or receives a premium;
"insurance salesperson" means an individual who is employed by an insurance agent or by an insurer to solicit, obtain or take an application for general insurance, or to negotiate for or procure general insurance, or to collect or receive a premium for general insurance;
Exercise of rights under licence
169 (1) A person other than
(b) a person named in the licence as a nominee of the licensee, or
(c) an individual to whom the rights and privileges under the licence have been delegated under subsection (2)
must not exercise the rights and privileges conferred by a licence.
(2) If the insurers that a licensee represents first give written consent to the delegation, a licensee who is an individual and who
(a) carries on business as a licensee at more than one office, and
(b) is unable through illness or absence or for other good cause to conduct business as a licensee in person
may delegate the rights and privileges conferred by the licence to a qualified individual approved by the council and must deliver the licence to the council to be amended accordingly.
170 A partnership or corporation must nominate an individual who is a licensed insurance agent or licensed insurance adjuster approved by the council to exercise on behalf of the partnership or corporation the rights and privileges conferred by the licence.
Prohibition of unlicensed agents and salespersons
171 (1) [Repealed 2004-48-79.]
(2) A person must not act in British Columbia as an insurance agent or insurance salesperson unless the person is licensed as an insurance agent or insurance salesperson, as the case may be.
(3) Subsection (2) does not apply to a person or class of persons exempted by the regulations.
172-173 [Repealed 2004-48-80.]
174 (1) An applicant must deliver to the council an application that fulfills the requirements of the rules of the council.
(2) A licence issued by the council
(a) must be issued in accordance with the rules of the council,
(b) must be issued for one or more prescribed classes of insurance and state the class of insurance in respect of which the licensee is authorized to act, and
(c) authorizes the licensee to act in accordance with the licence and its terms, conditions or restrictions, if any, unless the licence is suspended or cancelled under section 225.1 (2) (i) or 231.
(3) Before issuing a licence to an applicant or consenting to a transfer of a licence, the council may
(b) require the applicant to provide the council with additional information, documents or verification that the council considers necessary for evaluation of the application.
175 [Repealed 2004-48-80.]
Insurance applications to be accepted only from holders of licences
176 Subject to section 171 (2), an insurer must not make a contract of insurance or issue or deliver a policy unless the application for the insurance is
(a) made by the person to be insured or by an agent of that person, or
(b) is received by or from an insurance agent licensee.
Selling offences
177 A life insurance agent licensee must not
(a) induce an insured to lapse, forfeit or surrender for cash, or for paid up or extended insurance, or for other valuable consideration, the insured's contract of life insurance with one insurer in order to effect a contract of life insurance with another insurer, except in accordance with regulations made under section 289 (4) (d) and (e),
(b) make any false or misleading statement or representation in the solicitation or negotiation of insurance, or
(c) coerce a prospective buyer of life insurance through the influence of a business or a professional relationship or otherwise to give a preference in respect of the placing of life insurance that would not otherwise be given in the effecting of a life insurance contract.
Payment of commission to unlicensed agents prohibited
178 (1) An insurer, officer, agent or employee of an insurer, insurance agent or insurance salesperson must not
Persons who may negotiate settlement of personal injury claim
179 (1) A person other than a claimant must not
(a) negotiate, or solicit the right to negotiate on behalf of the claimant, or
(b) act as an investigator, consultant, advisor or adjuster for the claimant
respecting settlement of a claim for loss or damage because of bodily injury to or the death of any person.
(a) performs an activity described in subsection (1) for free, or
(b) is a solicitor or an employee of one in the solicitor's regular practice of law.
Prohibition of unlicensed adjusters
180 (1) A person must not act in British Columbia as an insurance adjuster or as an employed insurance adjuster unless the person is licensed as an insurance adjuster or as an employed insurance adjuster, as the case may be.
(2) Subsection (1) does not apply to a person or class of persons exempted by the regulations.
181-185 [Repealed 2004-48-80.]
Division 3 — Reciprocal Exchanges for Insurance
186 In this Division, "reciprocal exchange" means a group of persons the members of which agree to insure each other, to the extent and in the manner agreed on, under one or more contracts of reciprocal insurance, in consideration of each of the others entering into one or more of the contracts.
Permit for reciprocal insurance
187 (1) If persons proposing a reciprocal exchange
(a) file with the commission an application in the form established by the commission for a permit,
(b) pay the prescribed fee,
(c) satisfy the commission that they are able to meet and to continue to meet their contractual obligations pertaining to the proposed reciprocal exchange, and
(d) undertake to comply with any conditions imposed under section 236 (1) by the commission in respect of the permit,
the commission may issue a permit for the reciprocal exchange.
(2) After the issue of a permit under subsection (1), the members of the reciprocal exchange may
(a) enter into contracts of reciprocal insurance in British Columbia,
(b) solicit further such contracts,
(c) make inspections for the purpose of the contracts, and
(d) adjust or appraise losses under the contracts.
(3) If an application has been made under subsection (1), the superintendent may
(b) require the members of the reciprocal exchange to provide the superintendent with information, documents, verifications or forecasts of business operations,
(4) It is a condition of a permit issued under subsection (1) that there be filed with the superintendent not later than March 31 in each year
(a) a return showing the premium income derived during the year ending the preceding December 31,
(b) an actuarial statement prepared by an actuary or other qualified person approved by the superintendent, and
(c) any other information the superintendent requires,
in respect of the reciprocal exchange.
(5) The members of the reciprocal exchange, whenever required to do so by the superintendent, must provide the names of persons entering into contracts, particulars of property insured, terms of policies, premiums and details of any reinsurance contracts entered into by the members of the reciprocal exchange.
(6) On its own motion or on application by a reciprocal exchange, the commission may amend or remove a condition of a permit issued under subsection (1).
(7) The commission may suspend or cancel a permit issued under subsection (1) for failure to comply with
(a) an order made under this Act, or
(b) a condition of a permit issued under subsection (1).
(8) Permits issued under this section in any calendar year expire at the end of March in the next calendar year and may be reissued by the commission.
(9) If conditions of a permit for a reciprocal exchange are prescribed under section 289 (3) (g), the conditions are applicable to and are conclusively deemed to be part of every permit for a reciprocal exchange, whether issued, or deemed to have been issued, before or after the coming into force of the regulation prescribing the conditions.
Division 4 — Mutual Fire Insurance Companies
188 In this Division, "mutual fire insurance company" has the same meaning as "mutual fire insurance company", or "mutual company", or "company" in the Mutual Fire Insurance Companies Act, R.S.B.C. 1960, c. 262, and includes a corporation that is designated as a mutual company for the purposes of this Division by a regulation made under section 289 (4) (p).
189 (1) This Division and sections 1, 11, 59 (2) and (4), 61 (1) to (3), 62 to 64, 66, 67, 69, 70, 75 to 81, Division 6 of Part 3, sections 112, 127, 129, 130 to 133, 135 to 143, Part 5, Divisions 1 and 3 of Part 7, Part 8 and Part 10 apply to and in respect of a mutual fire insurance company as if the mutual fire insurance company were an insurance company as defined in section 1.
(2) Section 4 of the Business Corporations Act does not apply to a mutual fire insurance company.
Division 5 — Societies Engaged in Insurance
190 In this Division, other than section 197.1, "society" includes a society formed outside British Columbia.
Deemed business authorization for certain existing societies
191 A society that immediately before September 15, 1990
(a)	was within a class described in section 286 (1) (a), (b) or (c) of the Insurance Act, R.S.B.C. 1979, c. 200, and
(b)	was a corporation and licensed under the Insurance Act, R.S.B.C. 1979, c. 200,
is deemed to have a business authorization issued under this Division on September 15, 1990 authorizing the society to carry on insurance business, but only to the extent necessary to allow the society to exercise the powers it has on that date, and that it continues to have after that date, to
(c)	make contracts of life insurance under which more than $400 may be paid,
(d) make contracts under which more than $400 may be paid by way of funeral benefit or relief, or
(e) undertake to pay benefits or render services in the event of accident, sickness or disability or by way of pensions or annuities and to carry out the undertakings.
192 (1) Sections 1, 11, 59, 62 to 64, 70, 75 to 81, Division 6 of Part 3, sections 112, 127, 129, 132, 133, 135 to 143, 159, Part 5, Divisions 1 and 3 of Part 7, Part 8 and Part 10 apply to and in respect of a society that, under section 191, is deemed to have a business authorization, as if the society were an insurance company as defined in section 1.
(2) Section 4 of the Business Corporations Act does not apply to a society referred to in subsection (1) of this section.
Certain other existing societies exempt
193 (1) Subject to subsections (2) and (3), sections 59 and 159 do not apply to a society described in paragraphs (a) to (g) below that, immediately before September 15, 1990, was carrying on the business of insurance:
(a)	a society that has the power to make contracts of life insurance under which no more than $400 may be paid;
(b) a society that has the power to make contracts under which no more than $400 may be paid by way of funeral benefit or relief;
(c) a fraternal society as defined in section 37 of the Insurance Act or a branch of such a fraternal society;
(d)	a society registered under an Act of Canada as a fraternal benefit society or a branch of such a society;
(e) a society
(i) that has the power to undertake to pay benefits or render services in the event of accident, sickness or disability or by way of pensions or annuities, and
(ii) that carries on its operations in a limited locality or whose membership is restricted to a certain class of persons;
(f) a society whose membership is restricted to employees of the same employer, including, if the employer is a corporation, any subsidiary of the employer;
(g) a society whose membership is restricted to municipal or government employees and that, immediately before September 15, 1990, was exempt from section 286 (1) of the Insurance Act, R.S.B.C. 1979, c. 200, because of section 286 (2) (d) of that Act.
(2) If the commission considers that the nature or extent of the business carried on by a society referred to in subsection (1) warrants it, the commission, by an order naming that society may
(a)	direct that under section 61 or 160, whichever is appropriate, the society must file with the commission an application in the form established by the commission for a business authorization, and
(b) specify a date as the date on and after which section 59 or 159, whichever is appropriate, commences to apply to that society.
(3) On and after the date specified under subsection (2) (b) in an order made under subsection (2) of this section, section 59 or 159, as the case may be, applies to the society named in the order.
When society not entitled to receive business authorization
194 Despite
(a) section 61 (3) and (8), as applicable to a society because of section 193 (3), or
(b) section 160 (1) to (3) as applicable either because of section 193 (3) or otherwise to a society that is an extraprovincial corporation,
the commission must not issue to a society a business authorization to carry on insurance business
(c) if the society has power to make a contract of life insurance with a person who is not a member,
(d) if the society does not have at least 75 members in good standing, except that the commission may issue a temporary business authorization if the number of members is less than 75,
(e) if the society operates for the acquisition of gain, or as a commercial or business enterprise, or by or for any person other than its members,
(f) if the society's property or funds are under the control of persons not periodically elected by the members, or are not held in the name of the society,
(g) if under the society's charter the amount of insurance money payable under a contract of life insurance made by it may depend in whole or in part on the number of its members at the date of the death of a member or on the payment by its members of any assessment levied in case of the death of a member,
(h) if in the case of a society incorporated in British Columbia the officers do not reside in British Columbia,
(i) if in the case of a society to which section 199 applies its membership in any one group is not sufficient to pay a dependent after assessment a sum equal to 50% of the maximum benefit permitted for that group,
(j) if the society varies or attempts to vary the terms or benefits of any group or class of members, or
(k) if the society was not licensed or exempted from a requirement to be licensed under the Insurance Act, immediately before September 15, 1990.
195 (1) A society that under section 191 is deemed to have a business authorization must file with its annual report the results of a valuation of its contracts in force at the last preceding December 31.
(2) The valuation referred to in subsection (1) must be made and certified by an actuary or other qualified person approved by the superintendent, and must have regard to the prospective liabilities of the society under its contracts and to the premiums to be received from its members under their contracts according to the scale in force at the date of the valuation.
Limit of insurance money payable
196 A society deemed under section 191 to have a business authorization must not make a contract with a member under which the total insurance money payable exceeds $5 000.
197 The commission may object to a provision of or an amendment to the charter of a society authorized to carry on insurance business, on the ground that the provision or amendment is contrary to this Act or the Insurance Act, or unfair to any member or class of members, or unjust, or unreasonable, or actuarially unsound, and by order may require that the provision or amendment be
(a)	deleted, or
to the commission's satisfaction.
Consent required for alteration to constitution or bylaws or for amalgamation of authorized society
197.1 (1) In this section, "authorized society" means
(a) a society that is deemed, under section 191, to have a business authorization, or
(b) a society that
(i) has been directed, under section 193 (2) (a), to file with the commission an application for a business authorization, and
(ii) has that business authorization.
(2) Unless a contrary intention appears, words and expressions used in this section have the same meaning as in the Societies Act.
(3) An authorized society must not, under the Societies Act, alter the society's constitution or bylaws without first obtaining the consent of the commission.
(4) An authorized society must not, under Division 1 of Part 7 of the Societies Act, amalgamate with one or more other corporations unless, before the amalgamation application is submitted to the registrar for filing under section 87 of that Act, the consent of the commission to the amalgamation is obtained.
(5) Section 23 applies in relation to a consent under this section except that, for the purposes of applying that section, the reference to "officers" in that section must be read as a reference to "senior managers".
Society operating outside British Columbia
198 A society incorporated in British Columbia that is deemed under section 191 to have a business authorization must not carry on in another jurisdiction any operation that is not in accordance with the law of that jurisdiction; and if such a society is prohibited by the law of another jurisdiction from soliciting within that jurisdiction, it must not solicit an application for membership from a person resident in that jurisdiction.
199 Sections 37 to 91 of the Insurance Act apply to a society described in section 193 (1) (a) and (b) of this Act in the same manner as those sections apply to a fraternal society as defined by section 37 of the Insurance Act.
Provisions applicable to certain societies
200 (1) In this section, "grandparented insurance society" means a society described in section 286 (1) (a) or (b) of the Insurance Act, R.S.B.C. 1979, c. 200, as that section read immediately before September 15, 1990.
(2) Despite the repeal of section 293 of the Insurance Act, R.S.B.C. 1979, c. 200, section 293 (2) to (10) of that Act continues to apply to a grandparented insurance society as though section 293 (2) to (10) of that Act had not been repealed.
(3) Sections 51 and 55 of the Insurance Act and sections 194 (e) and 195 of this Act do not apply to a grandparented insurance society.