(a) it holds securities issued by the other investment fund, or
(ii) the other investment fund is an alternative mutual fund or a non-redeemable investment fund that is subject to this Instrument and, at the time of the purchase of that security, the investment fund holds no more than 10% of its net asset value in securities of alternative mutual funds and non-redeemable investment funds,
(i) the other investment fund is subject to this Instrument;
(e) no sales fees or redemption fees are payable by the investment fund in relation to its purchases or redemptions of the securities of the other investment fund if the other investment fund is managed by the manager or an affiliate or associate of the manager of the investment fund, and
(f) no sales fees or redemption fees are payable by the investment fund in relation to its purchases or redemptions of securities of the other investment fund that, to a reasonable person, would duplicate a fee payable by an investor in the investment fund.
(3) Paragraphs (2)(a), (a.1) and (c) do not apply if the security
(b) is issued by another investment fund established with the approval of the government of a foreign jurisdiction and the only means by which the foreign jurisdiction permits investment in the securities of issuers of that foreign jurisdiction is through that type of investment fund.
(4) Paragraph (2)(b) does not apply if the other investment fund
(a) is a clone fund, or
(b) in accordance with this section purchases or holds securities
(i) of a money market fund, or
(ii) that are index participation units issued by an investment fund.
(a) must not vote any of those securities, and
(7) The investment fund conflict of interest investment restrictions and the investment fund conflict of interest reporting requirements do not apply to an investment fund which purchases or holds securities of another investment fund if the purchase or holding is made in accordance with this section.