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Insurance Companies Act

Version of section 296 from 2003-01-01 to 2006-11-27:

Marginal note:Definition of “distribution”

 In this Division, distribution means

  • (a) a trade by or on behalf of a company in securities of the company that have not previously been issued; or

  • (b) a trade in previously issued securities of a company from the holdings of any person or group of persons who act in concert and who hold in excess of 10 per cent of the shares of any class of voting shares of the company.

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