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B.C. Reg. 77/94
O.C. 332/94
Deposited March 18, 1994
This archived regulation consolidation is current to April 21, 2006 and includes changes enacted and in force by that date. For the most current information, click here.

Insurance Premium Tax Act

Taxable Insurer Regulation

Interpretation

1In this regulation "Act" means the Insurance Premium Tax Act.

Prescribed insurer

2For the purposes of paragraph (b) of the definition of "taxable insurer" in the Act, the Insurance Corporation of British Columbia is a prescribed insurer.

Prescribed class of insurers

3For the purposes of paragraph (c) of the definition of "taxable insurer" in the Act, each of the following groups of persons constitutes a prescribed class of insurers:

(a)persons who are members of a reciprocal exchange, as defined in section 186 of the Financial Institutions Act, for which a permit under section 187 of that Act has been issued and is in effect;

(b)companies that are registered under the Insurance (Captive Company) Act.

[Provisions of the Insurance Premium Tax Act, R.S.B.C. 1996, c. 232, relevant to the enactment of this regulation: sections 1 and 41]