Bill S-1002

1st Session, 41st Parliament,

60 Elizabeth II, 2011

senate of canada

BILL S-1002

An Act to authorize the Industrial Alliance Pacific General Insurance Corporation to apply to be continued as a body corporate under the laws of Quebec

Whereas the Industrial Alliance Pacific General Insurance Corporation (the “Company”), having its principal place of business in the City of Vancouver, in the Province of British Columbia, has set out in its petition:

(a) that the Company was incorporated on July 9, 1981 under the Business Corporations Act of the Province of Saskatchewan, under the name “SDMA Insurance Corporation”, as certified by the Deputy Director of the Government of Saskatchewan;

(b) that the Company changed its name to “Aegis Insurance Corporation” on February 9, 1999;

(c) that the Company changed its name to “Industrial-Alliance Pacific General Insurance Corporation” on December 11, 2002;

(d) that the Company changed its name to “Industrial Alliance Pacific General Insurance Corporation” and was continued as a federal company under subsection 34(1) of the Insurance Companies Act by Letters Patent of Continuance dated July 27, 2007;

(e) that the Company is governed by the Insurance Companies Act;

(f) that the Company wishes to apply to be continued as a body corporate under the laws of the Province of Quebec; and

(g) that there is no legislative provision authorizing an insurance company incorporated under the laws of Canada to apply to be continued as a body corporate under the laws of a province;

And whereas the Company has by its petition prayed that it be permitted to apply to be continued as a body corporate under the laws of the Province of Quebec and it is expedient to grant the prayer of the petition;

Now, therefore, Her Majesty, by and with the advice and consent of the Senate and House of Commons of Canada, enacts as follows:

1. Despite subsection 39(5) of the Insurance Companies Act, the Company may apply to be continued as a body corporate under the laws of the Province of Quebec as if it had been incorporated under those laws.

2. On the day on which it is continued as a body corporate under the laws of the Province of Quebec, the Company ceases to be governed by the Insurance Companies Act.