48

 

First Session, 45th General Assembly

53 Elizabeth II, 2004

BILL 48

AN ACT TO AMEND THE INSURANCE COMPANIES ACT

Received and Read the First Time

Second Reading

Committee

Third Reading

Royal Assent

HONOURABLE DIANNE WHALEN

Minister of Government Services

Ordered to be printed by the Honourable House of Assembly

 


EXPLANATORY NOTE

This Bill would amend the Insurance Companies Act to provide for the appointment of a Deputy Superintendent of Insurance to carry out the duties of the Superintendent of Insurance in his or her absence or incapacity and to exercise the powers and perform the duties delegated by the Superintendent of Insurance under any Act.  Current legislation does not provide for the appointment of a Deputy Superintendent of Insurance.


A BILL

AN ACT TO AMEND THE INSURANCE COMPANIES ACT

Analysis


        1.   S.3.2 Added
Superintendent and Deputy Superintendent of Insurance



Be it enacted by the Lieutenant-Governor and House of Assembly in Legislative Session convened, as follows:

RSNL1990 cI-10
as amended

        1. The Insurance Companies Act is amended by adding immediately after section 3.1 the following:

Superintendent and Deputy Superintendent of Insurance

      3.2 (1) The Lieutenant-Governor in Council may appoint a Superintendent of Insurance.

             (2)  The Lieutenant-Governor in Council may appoint a Deputy Superintendent of Insurance

             (a)  to act in place of the superintendent in his or her absence or incapacity; and

             (b)  to exercise the powers and perform the duties of the superintendent under an Act or regulations that may be assigned by the superintendent.