(1) The approval of the securities regulatory authority or regulator is required before
(a) the manager of an investment fund is changed, unless the new manager is an affiliate of the current manager;
(a.1) a change of control of the manager of an investment fund occurs;
(b) a reorganization or transfer of assets of an investment fund is implemented, if the transaction will result in the securityholders of the investment fund becoming securityholders in another issuer;
(c) a change of the custodian of an investment fund is implemented, if there has been or will be, in connection with the proposed change, a change of the type referred to in paragraph (a); or
(d) an investment fund suspends, other than under section 10.6, the rights of securityholders to request that the investment fund redeem their securities.
(3) Despite subsection (1), in Ontario only the regulator may grant an approval referred to in subsection (1).