Copyright © Queen's Printer,

Victoria, British Columbia, Canada

Licence

Disclaimer

Volume 52, No. 6

B.C. Reg. 107/2009

The British Columbia Gazette,

Part II

March 24, 2009

B.C. Reg. 107/2009 , deposited March 13, 2009, pursuant to the INSURANCE (CAPTIVE COMPANY) ACT [Section 13]. Order in Council 214/2009, approved and ordered March 12, 2009.

On the recommendation of the undersigned, the Lieutenant Governor, by and with the advice and consent of the Executive Council, orders that

section 6.22 of the Insurance (Captive Company) Regulation, B.C. Reg. 157/87, is repealed and the following

section substituted:

Transportation Property and Casualty Company exemption

6.22 (1)

Section 5 (4) of the Act does not apply to the Transportation Property and Casualty Company in respect of its insuring

(

a) the Province, Canada and those persons required to be named insureds on the insurance policies required to be obtained and kept in force by Canada Line Rapid Transit Inc. (formerly RAV Project Management Ltd., "RAVCO"), under paragraphs (2.1), (2.2) and (2.3) of

Schedule 12 of the Amended and Restated RAV Concession Agreement (the "Agreement") among RAVCO, Greater Vancouver Transportation Authority, and InTransit BC Limited Partnership and dated July 29, 2005, as it May be amended from time to time, and

(

b) any successors and assignees of the persons identified in paragraph (a),

but only when the persons identified in paragraphs (

a) and (

b) are acting in relation to the Canada Line Rapid Transit System and in accordance with the Agreement.

(2) This

section does not affect the application to the Transportation Property and Casualty Company of the requirement in

section 5 (4) that a sophisticated insured captive insurance company May undertake only prescribed classes of insurance.

— C. HANSEN, Minister of Finance and Minister Responsible for the Olympics ; S. BOND, Presiding Member of the Executive Council .

Copyright © 2009: Queen's Printer, Victoria, British Columbia, Canada