Westco Insurance Company Act, 1966 Repeal Act, 2005

This Act is current to August 26, 2025
See the Tables of Legislative Changes for this Act’s legislative history, including any changes not in force.

[Prepared for convenience by the Office of Legislative Counsel]

Westco Insurance Company Act, 1966 Repeal Act, 2005

[SBC 2005] CHAPTER 24

Assented to March 10, 2005

Contents
	1	Definitions
	2	Westco Insurance Company Act, 1966 repealed
	3	Effect of repeal
	4	Rights
	5	Commencement

WHEREAS John Gill of the City of Vancouver, in the Province of British Columbia, has by his petition represented that

(a) Westco Insurance Company (the "Company") was incorporated by a private Act of the Legislative Assembly, namely the Westco Insurance Company Act, 1966, S.B.C. 1966, c. 71,

(b) although the Company has been in operation since 1966 in the insurance business in British Columbia, the Company has in recent years been a dormant company,

(d) the Company has no assets, debts, liabilities or other obligations, the same having been distributed to or assumed by the shareholder,

(e) the shareholder of the Company wishes to dissolve the Company, and

(f) there are no legislative provisions available to the Company to allow it to dissolve voluntarily and therefore such dissolution is not possible without a special Act of the Legislature of British Columbia;

AND WHEREAS John Gill has by his petition requested that it be enacted as follows, and it is expedient to grant the request in the petition;

THEREFORE, HER MAJESTY, by and with the advice and consent of the Legislative Assembly of the Province of British Columbia, enacts as follows:

Definitions

1 In this Act:

"Company" means Westco Insurance Company;

"shareholder" means Industrial-Alliance Pacific Life Insurance Company.

Westco Insurance Company Act, 1966 repealed

2 The Westco Insurance Company Act, 1966, S.B.C. 1966, c. 71, is repealed.

Effect of repeal

3 On the repeal of the Westco Insurance Company Act, 1966,

(a) the Company is dissolved and disestablished,

(b) the appointment of each member of the board of directors of the Company is rescinded,

(d) all of the debts, liabilities, obligations and covenants of the Company are transferred to and vested in the shareholder.

Rights

4 Nothing in section 2 prejudices the rights of any person that were acquired before this Act comes into force.

Commencement

5 This Act comes into force on March 31, 2005.