In this Instrument:…
“foreign issuer” means an issuer that is incorporated or organized under the laws of a foreign jurisdiction, unless
(a) outstanding voting securities of the issuer carrying more than 50% of the votes for the election of directors are beneficially owned by residents of Canada, and
(b) any of the following apply:
(i) the majority of the executive officers or directors of the issuer are residents of Canada;
(ii) more than 50% of the consolidated assets of the issuer are located in Canada; or
(iii) the business of the issuer is administered principally in Canada;