National Instrument 81-107 Independent Review Committee for Investment Funds
Part 1 Definitions and Application
Section 1.3 Definition of "entity related to the manager"

entity related to the manager

In this Instrument, “entity related to the manager” means

(a) a person or company that can direct or materially affect the direction of the management and policies of the manager or the investment fund, other than as a member of the independent review committee; or

(b) an associate, affiliate, partner, director, officer or subsidiary of the manager or of a person or company referred to in paragraph (a).

Commentary

1. The CSA consider an ‘entity related to the manager’ in paragraph (a) to include:

the portfolio manager or portfolio adviser (or sub-adviser) of the investment fund, including any third party portfolio manager or portfolio adviser;

the administrator of a scholarship plan; and

any person or company that can materially direct or affect the manager’s management or policies, including through contractual agreements or ownership of voting securities.