<PAGE> 1
Annual Notice of Securities Sold Pursuant to Rule 24F-2
U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 24F-2
Annual Notice of Securities Sold
Pursuant to Rule 24f-2
Read instructions at end of Form before preparing Form.
Please print or type
1. Name and address of issuer:
CANADA LIFE OF AMERICA SERIES FUND, INC., 330 University Avenue, Toronto,
Ontario, Canada M5G 1R8
----------------------------------------------------------------------------
2. Name of each series or class of funds for which this notice is filed:
Money Market, Managed, Bond, Value Equity, Capital, International Equity
Series
----------------------------------------------------------------------------
3. Investment Company Act File Number:
Securities Act File Number: 33-28888
----------------------------------------------------------------------------
4. Last day of fiscal year for which this notice is filed:
December 31, 1996
----------------------------------------------------------------------------
5. Check box if this notice is being filed more than 180 days after the close
of the issuer's fiscal year for purposes of reporting securities sold
after the close of the fiscal year but before termination of the issuer's
24f-2 declaration:
[ ]
----------------------------------------------------------------------------
6. Date of termination of issuer's declaration under rule 24f-2(a)(1); if
applicable (see Instruction A.6):
N/A
----------------------------------------------------------------------------
7. Number and amount of securities of the same class or series which had been
registered under the Securities Act of 1933 other than pursuant to rule
24f-2 in prior fiscal year, but which remained unsold at the beginning of
the fiscal year
none
----------------------------------------------------------------------------
8. Number and amount of securities registered during the fiscal year other
than pursuant to rule 24f-2:
----------------------------------------------------------------------------
9. Number and aggregate sale price of securities sold during the fiscal year:
$24,850,534
----------------------------------------------------------------------------
10. Number and aggregate sale price of securities sold during the fiscal year
in reliance upon registration pursuant to rule 24f-2:
$24,850,534
----------------------------------------------------------------------------
<PAGE> 2
11. Number and aggregate sale price of securities issued during the fiscal
year in connection with dividend reinvestment plans, if applicable (see
Instruction B.7):
$6,104,827
----------------------------------------------------------------------------
12. Calculation of registration fee*:
(i) Aggregate sale price of securities sold during the $ 24,850,534
fiscal year in reliance on rule 24f-2 (from Item 10):
(ii) Aggregate price of shares issued in connection with + 6,104,827
dividend reinvestment plans (from Item 11, if
applicable):
(iii) Aggregate price of shares redeemed or repurchased - 25,493,290
during the fiscal year (if applicable):
(iv) Aggregate price of shares redeemed or repurchased and + 0
previously applied as a reduction to filing fees
pursuant to rule 24e-2 (if applicable):
(v) Net aggregate price of securities sold and issued $ 5,462,071
during the fiscal year in reliance on rule 24f-2
[(line (i) plus line (ii), plus line (iv)], (if
applicable):
(vi) Multiplier prescribed by Section 6(b) of the x 1/29 of 1%
Securities Act of 1933 or other applicable law or
regulation (see Instruction C.6):
(vii) Fee due [line (i) or line (v) multiplied by line $ 1,883.47
(vi)]:
Instruction: Issuers should complete lines (ii), (iii), (iv) and (v) only if
the form is being filed within 60 days after the close of the
issuer's fiscal year. See Instruction C.3.
- --------------------------------------------------------------------------------
13. Check box if fees are being remitted to the Comission's lockbox
depository as described in section 3a of the Commission's Rules of
Informal and Other Procedures (17 CFR 202.3a).
[ ]
Date of mailing or wire transfer of filing fees to the Commission's
lockbox depository:
February 19, 1997
- --------------------------------------------------------------------------------
Signatures
This report has been signed below by the following persons on behalf of the
issuer and in the capacities and on the dates indicated
By (Signature and Title)* : D.V. Rough
--------------------
D.V. Rough
--------------------
Treasurer
Date : 19 Feb 1997
Please print the name and title of the signing officer below the signature.
*see attached
<PAGE> 3
ATTACHMENT
(1)
(i) Aggegate sale price of securities sold during the fiscal year in reliance
on rule 24f-2
<TABLE>
<S> <C> <C>
Series 001 - Money Market Series $14,764,456
Series 002 - Managed Series 3,887,311
Series 003 - Bond Series 1,825,512
Series 004 - Value Equity Series 1,841,769
Series 005 - Capital Series 1,452,011
Series 006 - International Equity Series 1,079,475
-----------
$24,850,534
-----------
</TABLE>
(2)
(ii) Aggregate price of shares issued in connection with dividend reinvestment
plans
<TABLE>
<S> <C> <C>
Series 001 - Money Market Series $ 267,368
Series 002 - Managed Series 3,120,898
Series 003 - Bond Series 490,594
Series 004 - Value Equity Series 1,896,996
Series 005 - Capital Series 227,281
Series 006 - International Equity Series 101,690
-----------
$ 6,104,827
-----------
</TABLE>
(3)
(iii) Aggregate price of shares redeemed or repurchased during the fiscal year
<TABLE>
<S> <C> <C>
Series 001 - Money Market Series $12,041,329
Series 002 - Managed Series 7,408,329
Series 003 - Bond Series 1,042,448
Series 004 - Value Equity Series 3,127,425
Series 005 - Capital Series 1,511,879
Series 006 - International Equity Series 361,880
-----------
$25,493,290
-----------
</TABLE>
<TABLE>
<CAPTION>
Shares Authorized Shares Outstanding
----------------- ------------------
<S> <C> <C> <C>
Series 001 - Money Market Series 20,000,000 759,921
Series 002 - Managed Series 20,000,000 1,353,782
Series 003 - Bond Series 10,000,000 647,932
Series 004 - Value Equity Series 10,000,000 655,427
Series 005 - Capital Series 20,000,000 478,390
Series 006 - International Equity Series 10,000,000 279,565
</TABLE>
<PAGE> 4
(Logo) Canada Life Canada Life (Letterhead)
February 19, 1997
Board of Directors
Canada Life of America Series Fund, Inc.
330 University Avenue
Toronto, Ontario
M5G 1R8
Canada
Gentlemen:
RE: REGISTRATION STATEMENT NO. 33-28888
This opinion is furnished in connection with the preparation and filing by
Canada Life of America Series Fund, Inc. ("The Fund") with the Securities and
Exchange Commission of a Notice ("Notice"), dated February 19, 1997, as set
forth in the Notice.
I call to your attention that as Counsel, U.S. Division for The Canada Life
Assurance Company, the parent of Canada Life Insurance Company of America and
Canada Life of New York, I have general supervision of all legal affairs of
Canada Life of America Variable Annuity Account 1 ("Variable Account 1"). I
also have general supervision of legal affairs of The Fund, all of whose shares
are owned by the separate accounts of Canada Life Insurance Company of America
and Canada Life Insurance Company of New York. This includes shares issued in
the amount of $24,850,534 the year ended December 31, 1997.
Based upon my examination of the relevant documents contained in The Fund's
registration statement, I am of the opinion that the shares issued pursuant to
The Fund's prospectus are legally issued, fully paid and nonassessable. I
consent to the filing of this opinion, in conjunction with the Rule 24f-2
Notice, with the Securities and Exchange Commission.
Sincerely
/s/ David A. Hopkins
- --------------------
David A. Hopkins
DAH/dh
