[37] Bill 13 Royal Assent (PDF)
Bill Pr13
Bill Pr131999
An Act respecting Pembridge Insurance Company
Preamble
Pembridge Insurance Company (the "company") has applied for special legislation to allow it to apply for continuation under the jurisdiction of the Parliament of Canada. The company represents that it was incorporated on June 5, 1970 by letters patent under the laws of Ontario as Pafco Insurance Company Limited. Supplementary letters patent have since been issued to the company to change its name to Pafco Insurance Company, and then to Pembridge Insurance Company, and for other purposes.
It is appropriate to grant the application.
Therefore, Her Majesty, by and with the advice and consent of the Legislative Assembly of the Province of Ontario, enacts as follows:
Authorization
1.(1)Subject to authorization by special resolution under the Corporations Act, the company may apply to the appropriate minister of the Government of Canada for letters patent continuing the company as if it had been incorporated under an Act of the Parliament of Canada.
Same
(2)The application may provide, among other things, that all rights and interests of the shareholders, policyholders and creditors of the company in, to or against the property, rights and assets of the company and all liens upon the property, rights and assets of the company are unimpaired by the continuation of the company.
Filing
2.(1)Upon the issuance of the federal letters patent, the company shall file the following documents with the Minister of Consumer and Commercial Relations:
1.A notice of the issuance of the federal letters patent.
2.A copy of the letters patent certified by the Office of the Superintendent of Financial Institutions Canada.
Effect
(2)On the day the documents required by subsection (1) are filed, the Corporations Act ceases to apply to the company.
Minister's certificate
(3)The Minister of Consumer and Commercial Relations may issue a certificate to the company confirming the date on which the documents required by subsection (1) were filed.
Commencement
3.This Act comes into force on the day it receives Royal Assent.
Short title
4.The short title of this Act is the Pembridge Insurance Company Act, 1999.