Versions of s. 12.5(1), definition “reserve transition amount”

reserve transition amount of an insurer, in respect of an insurance business carried on by it in Canada in its transition year, is the positive or negative amount determined by the formula A – B where A is the maximum amount that the insurer would be permitted to claim under paragraph 20(7)(c) (and that would be prescribed by section 1400 of the Regulations for the purpose of paragraph 20(7)(c)) as a policy reserve for its base year in respect of its insurance policies if the generally accepted accounting principles that applied to the insurer in valuing its assets and liabilities for its transition year had applied to it for its base year, and section 1400 of the Regulations were read in respect of the insurer’s base year as it reads in respect of its transition year; and B is the maximum amount that the insurer is permitted to claim under paragraph 20(7)(c) as a policy reserve for its base year. (montant transitoire)