(1) A corporation may
submit to the Coordinator for approval —
(a) an
amendment to an approved policy; or
(b) a
replacement for an approved policy.
(2) The Coordinator
may approve or refuse to approve an amendment or replacement submitted under
subsection (1).
(3) The Coordinator
must not approve an amendment or replacement if the Coordinator considers that
it —
(a) will
not meet the requirements of the regulations in respect of such policies; or
(b) will
be inconsistent with this Act or any other written law.