(1) An investment fund must establish policies and procedures that it will follow to determine whether, and how, to vote on any matter for which the investment fund receives, in its capacity as securityholder, proxy materials for a meeting of securityholders of an issuer.
(2) The policies and procedures referred to in subsection (1) must include
(a) a standing policy for dealing with routine matters on which the investment fund may vote;
(b) the circumstances under which the investment fund will deviate from the standing policy for routine matters;
(c) the policies under which, and the procedures by which, the investment fund will determine how to vote or refrain from voting on non-routine matters; and
(d) procedures to ensure that portfolio securities held by the investment fund are voted in accordance with the instructions of the investment fund.
(3) An investment fund that has not prepared an annual information form in accordance with Part 9 or in accordance with National Instrument 81-101 Mutual Fund Prospectus Disclosure must include a summary of the policies and procedures required by this section in its prospectus.