Condition of business authorization

1   It is a condition of every business authorization issued to an extraprovincial insurance corporation

(a) whose primary jurisdiction is Canada, and

(b) that is the subject of an order of the superintendent under section 574 (1) of the Insurance Companies Act (Canada) approving the insuring in Canada of risks by the extraprovincial insurance corporation

that the extraprovincial insurance corporation's insurance business in British Columbia is carried on as insuring in Canada a risk within the meaning of and in accordance with Part XIII of the Insurance Companies Act (Canada).