OBS_VALUE: There are no foreign ownership restrictions imposed under the Investment Canada Act or the Insurance Companies Act. However, if the applicant is a foreign institution from a country that is not a member of the World Trade Organization, prior to granting an approval for the applicant to acquire more than 10 per cent of the shares of an insurance company the minister of finance is instructed to consider whether reciprocal treatment is available for Canadian insurers under the laws of that jurisdiction. There is also a restriction on a foreign governmentor agent of a foreign government being issued shares of an insurance company.