Investment Limits (Canadian Societies) Regulations

The Investment Limits (Canadian Societies) Regulations, made under the Insurance Companies Act, set out investment limits for Canadian societies. The regulations define certain terms and concepts used in the regulations, including "designated entity," "joint venture," and "related real property entity."

The regulations also outline how to value interests in real property, including direct interests such as real property beneficially owned by the society or its subsidiaries, and indirect interests such as shares and ownership interests in related real property entities. The regulations provide for certain specific interests of a society in real property, including guarantees given by the society or its designated entity to an entity other than the society or designated entity for the purpose of completing the development of real property beneficially owned by the society or its designees, and agreements made by the society or its designated entity to support a third party's cost of operating or financing real property.

The regulations specify the amounts that may be included in a society's total assets, including 15% for the purpose of section 563 of the Act and 25% for the purposes of sections 565 and 566 of the Act. The regulations also define how to determine the amount determined in respect of a society by applying certain calculations based on the book value of interests in real property.

The regulations came into force on October 4, 2001, as part of the Insurance Companies Act.