Government

15-501 - Exemptions of Certain Contracts Issued by Insurance Companies from PEI Securities Laws

Published date: July 7, 2017
Share this page

Securities Act

R.S.P.E.I. 1988, Cap-S-3.1

Document Type: Local Rule

Document No: 15-501

Subject: Exemption of Certain Contracts Issued by Insurance Companies from Prince Edward Island Securities Laws

Effective Date: March 17, 2008

Local Rule 15-501 Exemption of Certain Contracts Issued by Insurance Companies from Prince Edward Island Securities Laws

Part 1 Definitions

1.1 In this Rule:

“Act” means the Securities Act R.S.P.E.I. 1988, Cap-S-3.1;

“insurance contract” means

(a) a security as defined in subclause 1(bbb)(v) of the Act that is a contract issued by an insurance company which provides for payment at maturity of an amount not less than three quarters of the premiums paid by the purchaser for a benefit payable at maturity;

(b) a security as defined in subclause 1(bbb)(x) of the Act that is an income or annuity contract issued by an insurance company.

Part 2 Exemption

2.1 An insurance contract is exempt from all and any provision of Prince Edward Island securities laws, with the exception of this Rule.

Part 3 Effective Date

3.1 This Rule comes into force on March 17, 2008.

General Inquiries

Financial and Consumer Services Division

1st Floor, Shaw Building (North Entrance)
105 Rochford Street
PO Box 2000
Charlottetown, PE   C1A 7N8

Phone: 902-368-4550
Fax: 902-368-5283