Part 2 — Provincial Companies Subpart 1 Status and Powers of Provincial Companies
295 Allocation of income
participating account that portion of the investment income or
losses of the company for a financial year, including accrued
capital gains or losses, whether or not realized, that is determined
in accordance with a method that is
(a) in the written opinion of the actuary of the company, fair
and equitable to the participating policyholders,
(b) approved by resolution of th e directors, after consideration
of the written opinion of the actuary of the company, and
(c) not disallowed by the Minister, within 60 days after the
Minister receives the resolution under section 297, on the
ground that it is not fair and equitable to the participating
policyholders.
1999 cI-5.1 s295