Part 2 — Provincial Companies Subpart 1 Status and Powers of Provincial Companies
154 Division 6 Demutualization Conversion into provincial company with common shares
Minister may issue a certificate converting the mutual provincial
company into a provincial company with common shares.
(2) The Minister must not issue the certificate unless the
requirements of the regulations have been met.
(3) On the day that the certificate becomes effective the
policyholders of the company cease to have any rights with respect
to the company as a mutual provincial company or any interest in
the company as a mutual provincial company.
1999 cI-5.1 s154