(1) The change in year end reporting requirements are adopted from National Instrument 51-102, with appropriate modifications to reflect that investment funds report on a six month interim period.
(2) The definition of “interim period” in the Instrument differs from the definition of this term in National Instrument 51-102. An investment fund cannot have more than one interim period in a transition year.
(3) The interim financial report for the new financial year will have comparatives from the corresponding months in the preceding year, whether or not they arefrom the transition year or from the old financial year, they were previously prepared or not, or they straddle a year-end.
(4) If an investment fund voluntarily reports on a quarterly basis, it should follow the requirements set out in National Instrument 51-102 for a change in year end, with appropriate modifications.