s. 1
— Authority for vehicle insurance
Pursuant to the Insurance Corporation Act, the corporation was, by order of the Lieutenant Governor in Council (no. 1342/73), approved April 19, 1973, authorized to engage in and carry on any class of automobile insurance and reinsurance, as defined in the Act, and to operate and administer a plan of universal compulsory vehicle insurance as defined in the Insurance (Vehicle) Act.
s. 2
— Authority for other classes of insurance
All other classes of insurance and reinsurance defined under the Financial Institutions Act are designated and approved as classes of insurance and reinsurance which the Insurance Corporation of British Columbia is authorized to engage in and carry on.