Part 2 — Provincial Companies Subpart 1 Status and Powers of Provincial Companies
142 Continuance from another jurisdiction
company may be continued as a provincial company if
(a) the company submits an application to the Minister,
(b) the continuance of the company is authorized under the Act
under which the company is incorporated,
(c) the applicant meets the requi rements for incorporation under
this Act,
(d) the Minister has received evidence showing the proposed
continuance has been approved in conformity with the laws
of the jurisdiction in which the company was incorporated,
(e) the Minister is satisfied th at continuance as a provincial
company will not adversely affect the policyholders,
security holders or creditors of the company, and
(f) the company intends to undert ake the classes of insurance in
Alberta that it was authorized to undertake in the
jurisdiction in which it was incorporated.
1999 cI-5.1 s142