UFSC Continuance; Winnipeg Enforcement Office Designated

Summary#

This Canada Gazette entry has two short notices. One names a new Manitoba office for serving enforcement notices for certain bank and trust companies. The other says UFSC Heritage Life Insurance Fraternal Society plans to leave the federal Insurance Companies Act and continue under the Canada Not-for-profit Corporations Act, with a proposed name change to UFSC Heritage Life Association on or after March 15, 2022.

What it does#

• Designates a Manitoba address as the place to serve enforcement notices for certain support-order rules. The companies named are Canadian Western Bank, Canadian Western Trust Company, and Valiant Trust Company. The designated office is at 125 Nature Park Way, Winnipeg, Manitoba R3P 0Y6. This designation is made under the Support Orders and Support Provisions (Banks and Authorized Foreign Banks) Regulations and the Support Orders and Support Provisions (Trust and Loan Companies) Regulations.
• Announces that UFSC Heritage Life Insurance Fraternal Society intends to apply to the Minister of Finance on or after March 15, 2022 for approval to continue under the Canada Not-for-profit Corporations Act and to change its legal name to UFSC Heritage Life Association. It also gives a deadline to submit objections to the Superintendent of Financial Institutions by March 15, 2022.

Who's affected#

• Customers, creditors, or anyone who needs to serve enforcement notices on Canadian Western Bank, Canadian Western Trust Company, or Valiant Trust Company in Manitoba — they will use the new designated office address.
• Members, policyholders, or other stakeholders of UFSC Heritage Life Insurance Fraternal Society — the society is proposing to change its corporate form and name.
• The Superintendent of Financial Institutions and anyone who wishes to object to the society’s change of status (objections must be filed by March 15, 2022).

Why it matters#

• For people or agencies delivering legal or enforcement paperwork, the designated office tells them where to serve those documents in Manitoba. That can affect timing and who receives the papers.
• For members or beneficiaries of UFSC Heritage Life Insurance Fraternal Society, shifting from the Insurance Companies Act to the not-for-profit corporations regime and changing the legal name could affect governance, reporting, or where formal objections are sent. The notice gives an opportunity to object before March 15, 2022.