Commonwealth Numbered Regulations

1995 No. 141 LIFE INSURANCE REGULATIONS - REG 9.04

9.04. (1) For the purposes of subsection 197 (1) of the Act, a company to
which life insurance business is transferred, or with whose life insurance
business any part of the business of another company is amalgamated must give
the Commissioner the following documents:

   (a)  a statement of the nature and terms of the transfer or amalgamation;

   (b)  a certified copy of each of the following documents:

        (i)    the scheme providing for the transfer or amalgamation;

        (ii)   an actuarial report, or other report, on which the scheme, and
               the agreement or deed, are founded;

        (iii)  the agreement or deed under which the transfer or amalgamation
               is effected;

        (iv)   the Court order confirming the scheme;

        (v)    a statement of the assets and liabilities of each company
               associated with the transfer or amalgamation;

   (c)  a statutory declaration by the principal executive officer:

        (i)    setting out, in relation to the transfer or amalgamation:

                (A)  each payment made; and

                (B)  a reasonable estimate of each payment to be made; and

        (ii)   stating that he or she reasonably believes that no other
               payment has been made, or will be made, by, or with the
               knowledge of, a party to the transfer or amalgamation.

(2) For the purposes of subsection 197 (2) of the Act, and subject to
subregulation (3), the documents must be lodged within 30 days after the
transfer or amalgamation is completed.

(3) A company may apply, in writing, to the Commissioner, before the end of
the period referred in subregulation (2), for an extension of the time in
which to lodge the documents.

(4) If the Commissioner believes that the company cannot reasonably provide
the documents within the period referred to in subregulation (2), the
Commissioner must, within 14 days of receiving an application:

   (a)  give an extension, of no longer than 30 days, to the company, to
        provide the documents; and

   (b)  so inform the company in writing.