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

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.

Earl G. Tucker, Queen's Printer