Part 2 — Provincial Companies Subpart 1 Status and Powers of Provincial Companies
117 Segregated Funds Segregated funds restricted to life companies
(a) issue policies, or
(b) accept or retain on the di rection of a policyholder or
beneficiary policy dividends or bonuses or policy proceeds
that are payable on the surrender or maturity of the policy or
on the death of the person whose life is insured,
where the liabilities of the company in respect of the policies or the
amounts accepted or retained vary in amount depending on the
market value of a fund consisting of a specified group of assets.
1999 cI-5.1 s117