Part 2 — Provincial Companies Subpart 1 Status and Powers of Provincial Companies
176 Notice of intention
agreement, the company must publish a notice of intention to enter
into the agreement
(a) in The Alberta Gazette, and
(b) in a newspaper in general circulation in the place where the
head office of the provincial company is located,
stating the date on or after which the application will be made to
the Minister to approve the agreement, that date being at least 30
days after the date of publication of the notice.
(2) Where a provincial company publishes a notice referred to in
subsection (1), the Minister may direct the company to provide its
policyholders and shareholders with the information the Minister
specifies.
(3) Where a provincial company publishes a notice referred to in
subsection (1), the company must make the proposed agreement to
which the notice relates available for inspection by the
policyholders and shareholders of the company at the head office of
the company for a period of at least 30 days after the publication of
the notice and provide a copy of the agreement to any policyholder
or shareholder who sends a request in writing to the head office of
the company.
(4) Where the Minister is of the opinion that it is in the best
interests of a group of policyholders affected by an agreement, the
Minister may shorten the periods of 30 days referred to in
subsections (1) and (3).
(5) The Minister may designate a professional advisor to evaluate
the agreement, and the provincial company that is proposing to
enter into the agreement must provide any assistance required by
the professional advisor to enable the advisor to complete the
evaluation.
(6) The remuneration and expenses of the professional advisor for
carrying out the evaluation under subsection (5) are payable by the
provincial company on being approved by the Minister.
1999 cI-5.1 s176