Licence revocation
242.6(1)If an insurer fails to remit any portion of the levy within 90 days of any of the dates of payment set out in subsection 242.3(4), the Minister shall report this to the Superintendent, who may revoke the licence of the defaulting insurer after giving notice to the insurer and holding a hearing.
242.6(2)Notice of a revocation under subsection (1) shall be published by the Superintendent once in
The Royal Gazette as soon as reasonably practicable after the revocation takes effect.
2008, c.2, s.13; 2013, c.31, s.20; 2019, c.29, s.74; 2021, c.8, s.40