Part 2 — Provincial Companies Subpart 1 Status and Powers of Provincial Companies
110 Main business
company must not engage in or carry on any business other than
(a) the business of insurance, or
(b) the business of providing financial services.
(2) For the purposes of this Act, the business of insurance includes
any activity that is reasonably ancillary to the business of
insurance.
(3) For the purposes of this Act, the business of providing financial
services includes in respect of a provincial company
(a) acting as a receiver, liquidator or sequestrator,
(b) issuing payment, credit or charge cards and, in co-operation
with others including other financial institutions, operating a
payment, credit or charge card plan,
(c) providing real property brokerage services,
(d) holding and otherwise dealing with real property,
(e) providing information processing services that the company
has developed for its own use and that are an integral part of
the company's operations to entities in which the company
has a substantial investment that do not provide information
processing services to other entities,
(f) promoting merchandise and services to the holders of any
payment, credit or charge card issued by the company,
(g) acting as a custodian of property,
(h) acting as a trustee for a trust in respect of a prescribed class
of transaction,
(i) any of the activities refe rred to in section 111, and
(j) with the consent of the Minister, any other activity that is
reasonably ancillary to the business of providing financial
services.
RSA 2000
(4) Subject to subsection (5), a provincial company must not carry
on an activity that requires registration under the Securities Act.
(5) A provincial company may carry on an activity that is
regulated under the Securities Act if the Securities Act allows the
company to carry on the activity without being registered under
that Act.
1999 cI-5.1 s110