Part 2 — Provincial Companies Subpart 1 Status and Powers of Provincial Companies
147 Division 4 Continuance out of Alberta Continuance in another jurisdiction
(a) the proposed continuance is approved by a special resolution
of the participating policyholders and shareholders, and
(b) the Minister approves the proposed continuance on being
satisfied that the continuance will not adversely affect the
policyholders, security holders or creditors of the company,
apply to the appropriate official or public body of another
jurisdiction requesting that the company be continued in that other
jurisdiction as if it had been incorporated under the laws of that
other jurisdiction.
(2) The directors of the provincial company must submit the
proposed continuance to a meeting of the participating
policyholders and shareholders for approval.
(3) The directors must give notice of the meeting and particulars of
the proposed continuance
(a) in accordance w ith section 270, and
(b) to the Minister at least 21 days before the meeting.
(4) The provincial company must advise the Minister if the special
resolution approving the continuance is passed.
1999 cI-5.1 s147