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S.M. 1993, c. 9
The Insurance Amendment Act
(Assented to July 27, 1993)
HER MAJESTY, by and with the advice and consent of the Legislative Assembly of Manitoba, enacts as follows:
Clause 43(3)(e) is repealed and the following is substituted:
The following is added after subsection 84(1):
Where the superintendent is satisfied that the business of an insurer is that of reinsurance, the superintendent may allow the insurer in any year to deliver the statement required under subsection (1) on or before March 31 instead of the last day of February.
The following is added after clause 114(3)(g):
(h) requiring the preparation and delivery to the superintendent, more frequently than specified in this Act, of any financial statement and related material required to be prepared and so delivered under this Act, and specifying the portion of the year to be dealt with in the statement and material.
The following is added after subsection 288(2):
If an agent of an insurer takes an application for insurance on behalf of the insurer on crops mentioned in clause 284(1)(a), a contract of insurance in accordance with the application takes effect at 12 noon of the day following the date the application is taken.
In a case to which subsection (2.1) applies, the agent shall, on the day the application is taken, notify the insurer of the details of the application by telephone or facsimile transmission or other means specified by the insurer.
Subsection 288(4) is amended
(a) by striking out "the agent tendering the application" and substituting "the agent if any"; and
Subsection 290(1) is repealed and the following is substituted:
Where an agent of an insurer, or an applicant, delivers an application for insurance together with the insurance premium to the head or branch office or the general agency of the insurer in the province, the application shall immediately be stamped with the date of its receipt.
This Act comes into force on the day it receives royal assent.