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BR-2.3.7

Past version: Effective from 01 Jul 2007 to 30 Sep 2015
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In accordance with Section GR-5.1, an insurance licensee must seek CBB approval and give reasonable advance notice of any of the following events concerning the insurance licensee:

(a) A person acquiring control or ceasing to have control;
(b) An existing controller acquiring an additional type of control (such as ownership or significant influence) or ceasing to have a type of control;
(c) An existing controller increasing or decreasing a type of control which he already has so that the percentage of shares or voting power concerned becomes or ceases to be equal to or greater than 20 or 50; or
(d) An existing controller becoming or ceasing to be a parent undertaking.
Amended: January 2007