Part 2 — Provincial Companies Subpart 1 Status and Powers of Provincial Companies
397 Chief financial officer
functions must not be appointed as or hold the position of actuary
of a provincial company unless
(a) the audit committee of the company has provided the
Minister with a written statement indicating that it is
satisfied that the duties of both positions in the company
will be adequately performed and that the actuarial duties
will be performed in an independent manner, and
(b) the appointment or holding of the position is authorized by
the Minister.
(2) An authorization under subsection (1)(b) may contain
limitations and conditions, including a limitation on the time during
which the person referred to in the authorization may hold the
position of actuary of the provincial company.
(3) A person holding the position of actuary pursuant to an
authorization under subsection (1)(b) must not hold that position
after the time limit referred to in subsection (2).
1999 cI-5.1 s397