Executive director
Means a director who is an officer or employee, or is otherwise involved in day-to-day management, of either:
a) The insurance licensee ;
b) Another company which is a controller of the insurance licensee ;
c) Another company of which the insurance licensee is a controller ; or
d) Another company which is controlled by a controller of the insurance licensee .
In this definition, the word "company" which is a controller of the licensee excludes sovereigns such as government owned entities and government ministries.
Amended: April 2011