(1) Subsection 5.3(2) of the Instrument provides that an investment fund’s reorganization with, or transfer of assets to, another issuer may be carried out on the conditions described in paragraph 5.3(2)(a) or (b) without the prior approval of the securityholders of the investment fund.
(2) If the manager refers the change contemplated in subsection 5.3(2) of the Instrument to the investment fund’s independent review committee, and subsequently seeks the approval of the securityholders of the investment fund, the Canadian securities regulatory authorities expect the manager to include a description of the independent review committee’s determination in the written notice to securityholders referred to in section
5.4 of the Instrument.
(3) The Canadian securities regulatory authorities expect the written notice referred to in subparagraph 5.3(2)(a)(iv) and (v) of the Instrument to include, at a minimum, the expected date of the reorganization, the name of the other investment fund with which the investment fund will be reorganized, how a securityholder of the investment fund may obtain a copy of the other investment fund’s fund facts, simplified prospectus or annual information form, as applicable, and a description of the determination of the investment fund’s independent review committee with respect to the reorganization.