Canada Gazette, Part I, Volume 156, Number 36: MISCELLANEOUS NOTICES
September 3, 2022
ECHELON INSURANCE
ORION TRAVEL INSURANCE COMPANY
LETTERS PATENT OF CONTINUANCE
LETTERS PATENT OF AMALGAMATION
Pursuant to subsection 32(2) of the Insurance Companies Act (Canada) [the “Act”], notice is hereby given that Orion Travel Insurance Company, an insurance company incorporated under the Insurance Act (Alberta), intends to apply to the Minister of Finance for letters patent continuing the company under the Act.
Notice is also hereby given pursuant to the provisions of section 250 of the Act, that Echelon Insurance and Orion Travel Insurance Company (together, the “Applicants”) intend to make a joint application to the Minister of Finance for letters patent of amalgamation to amalgamate the Applicants, immediately following the continuance of Orion Travel Insurance Company, as one company under the Act under the name, in English, “Echelon Insurance” and, in French, “Échelon Assurance”. The head office of the amalgamated company would be located in Mississauga, Ontario.
The effective date of the proposed continuance and the proposed amalgamation would be January 1, 2023, or any other date fixed by the letters patent of amalgamation.
Any person who objects to the proposed continuation or amalgamation may submit an objection in writing to the Office of the Superintendent of Financial Institutions, 255 Albert Street, Ottawa, Ontario K1A 0H2, on or before October 3, 2022.
The publication of this notice should not be construed as evidence that letters patent will be issued. The granting of the letters patent will depend on the normal application review process under Part III of the Act and on the discretion of the Minister of Finance.
August 20, 2022
GPC FINANCIAL CORPORATION
REDUCTION OF STATED CAPITAL
As required under subsection 78(5) of the Trust and Loan Companies Act (Canada), notice is hereby given that GPC Financial Corporation intends to apply to the Superintendent of Financial Institutions (Canada) for approval to reduce the stated capital of the common shares of GPC Financial Corporation in accordance with the special resolution, passed by the sole shareholder of GPC Financial Corporation, Global Payments Direct, Inc., on August 25, 2022, a copy of which is set out below.
“RESOLVED AS A SPECIAL RESOLUTION THAT
- Subject to the approval of the Superintendent, and in accordance with section 78 of the Act, the stated paid-in capital of the Company be reduced by an amount of Can$29 million and that such amount be distributed to the sole shareholder of the Company; and
- The Directors and Officers of the Company are hereby authorized and directed to apply under section 78 of the Act for approval of this Resolution.”
The publication of this notice should not be construed as evidence that approval will be issued for the reduction of capital. The granting of the approval will be dependent upon the normal Trust and Loan Companies Act (Canada) review process and the discretion of the Superintendent of Financial Institutions.
Toronto, August 25, 2022
GPC Financial Corporation
QUEBEC ASSURANCE COMPANY
ASSUMPTION REINSURANCE AGREEMENT AND CERTIFICATE OF CONTINUANCE
Notice is hereby given, in accordance with the provisions of subsection 254(2.01) of the Insurance Companies Act (Canada) [the “Act”], that Quebec Assurance Company (“QAC”) intends to make an application to the Superintendent of Financial Institutions (the “Superintendent”), on or after September 20, 2022, for the Superintendent’s approval to cause itself to be reinsured, on an assumption basis, against less than substantially all of its policy liabilities, by Intact Insurance Company.
A copy of the proposed assumption reinsurance agreement will be available for inspection by the policyholders of QAC during regular business hours at the head office of QAC located at 700 University Avenue, Suite 1500-A, Toronto, Ontario M5G 0A1, for a period of 30 days following publication of this notice.
Any policyholder who wishes to obtain a copy of the proposed assumption reinsurance agreement may do so by writing to QAC at the above-noted address.
Notice is also hereby given, in accordance with subsection 39(3) of the Act, that QAC intends to apply to the Minister of Finance, on or after September 5, 2022, for approval to apply under the Canada Business Corporations Act (the “CBCA”) for a certificate of continuance as a corporation under the CBCA. The board of directors of QAC may, however, without further approval of the sole shareholder of QAC, withdraw the application for continuance before it is acted on, in accordance with subsection 39(4) of the Act.
Any person who objects to the proposed continuance may submit an objection to the Office of the Superintendent of Financial Institutions by email to approvalsandprecedents@osfi-bsif.gc.ca on or before September 12, 2022.
Toronto, August 20, 2022
Quebec Assurance Company