National Instrument 81-102 Investment Funds
Part 1 Definitions and Application
Section 1.1 Definitions

option

“option” means an agreement that provides the holder with the right, but not the obligation, to do one or more of the following on terms or at a price established by or determinable by reference to the agreement at or by a time established by the agreement:

(1) Receive an amount of cash determinable by reference to a specified quantity of the underlying interest of the option.

(2) Purchase a specified quantity of the underlying interest of the option.

(3) Sell a specified quantity of the underlying interest of the option;