“current value” means, for an asset held by, or a liability of, an investment fund, the value calculated in accordance with Canadian GAAP;
“education savings plan” means an agreement between one or more persons and another person or organization, in which the other person or organization agrees to pay or cause to be paid, to or for one or more beneficiaries designated in connection with the agreement, scholarship awards;
“EVCC” means an employee venture capital corporation that does not have a restricted constitution, and is registered under Part 2 of the Employee Investment
Act, R.S.B.C. 1996 c. 112, and whose business objective is making multiple investments;
“independent valuation” means a valuation of the assets and liabilities, or of the venture investments, of a labour sponsored or venture capital fund that contains the opinion of an independent valuator as to the current value of the assets and liabilities, or of the venture investments, and that is prepared in accordance with Part 8;
“financial statements” includes interim financial reports;
“independent valuator” means a valuator that is independent of the labour sponsored or venture capital fund and that has appropriate qualifications;
“ interim management report of fund performance ” means a document prepared in accordance with Part C of Form 81-106F1;
“investment fund” means a mutual fund or a non-redeemable investment fund, and, for greater certainty in British Columbia, includes an EVCC and a VCC;
Lexata note: “investment fund” is also defined in s. 106(1) of the OSA.
“labour sponsored or venture capital fund” means an investment fund that is
(a) a labour sponsored investment fund corporation or a labour sponsored venture capital corporation under provincial legislation,
(b) a registered or prescribed labour sponsored venture capital corporation as defined in the ITA,
(c) an EVCC, or
(d) a VCC;
“management fees” means the total fees paid or payable by an investment fund to its manager or one or more portfolio advisers or sub-advisers, including incentive or performance fees, but excluding operating expenses of the investment fund;
“management report of fund performance” means an annual management report of fund performance or an interim management report of fund performance;
“interim period” means, in relation to an investment fund,
(a) a period of at least three months that ends six months before the end of a financial year of the investment fund, or
(b) in the case of a transition year of the investment fund, a period commencing on the first day of the transition year and ending six months after the end of its old financial year;
“material change” means, in relation to an investment fund,
(a) a change in the business, operations or affairs of the investment fund that would be considered important by a reasonable investor in determining whether to purchase or continue to hold securities of the investment fund, or
(b) a decision to implement a change referred to in paragraph (a) made
(i) by the board of directors of the investment fund or the board of directors of the manager of the investment fund or other persons acting in a similar capacity,
(ii) by senior management of the investment fund who believe that confirmation of the decision by the board of directors or such other persons acting in a similar capacity is probable, or
(iii) by senior management of the manager of the investment fund who believe that confirmation of the decision by the board of directors of the manager or such other persons acting in a similar capacity is probable;
“material contract” means, for an investment fund, a document that the investment fund would be required to list in an annual information form under Item 16 of Form 81-101F2 if the investment fund filed a simplified prospectus under National Instrument 81-101 Mutual Fund Prospectus Disclosure;
“mutual fund in the jurisdiction” means an incorporated or unincorporated mutual fund that is a reporting issuer in, or that is organized under the laws of, the local jurisdiction, but does not include a private mutual fund;
“publicly accountable enterprise” means a publicly accountable enterprise as defined in the Handbook;
“quarterly portfolio disclosure” means the disclosure prepared in accordance with Part 6;
“scholarship award” means any amount, other than a refund of contributions, that is paid or payable directly or indirectly to further the education of a beneficiary designated under an education savings plan;
“scholarship plan” means an arrangement under which contributions to education savings plans are pooled to provide scholarship awards to designated beneficiaries;
“statement of changes in financial position” means a statement of changes in equity or a statement of changes in net assets attributable to securityholders;
“transition year” means the financial year of an investment fund in which a change of year end occurs;
“VCC” means a venture capital corporation registered under Part 1 of the Small Business Venture Capital Act, R.S.B.C. 1996 c. 429, whose business objective is making multiple investments;
“venture investment” means an investment in a private company or an investment made in accordance with the requirements of provincial labour sponsored or venture capital fund legislation or the ITA.
(1) Except as otherwise provided in this Instrument, this Instrument applies to
(a) an investment fund that is a reporting issuer; and
(b) subject to subsection (2), a mutual fund in the jurisdiction.
(2) Despite paragraph (1) (b), in Alberta, British Columbia, Manitoba and Newfoundland and Labrador, this Instrument does not apply to a mutual fund that is not a reporting issuer.
(4) In Québec, this Instrument does not apply to a reporting issuer organized under
(a) an Act to establish the Fonds de solidarité des travailleurs du Québec (F.T.Q.) R.S.Q., chapter F-3.2.1;
(b) an Act to establish Fondaction, le Fonds de développement de la Confédération des syndicats nationaux pour la coopération et l’emploi (R.S.Q., chapter F-3.1.2); or
(c) an Act constituting Capital régional et coopératif Desjardins, Loi constituant Capital régional et coopératif Desjardins (R.S.Q., chapter C-6.1).
(1) Each section, part, class or series of a class of securities of an investment fund that is referable to a separate portfolio of assets is considered to be a separate investment fund for the purposes of this Instrument.
(2) Unless defined in section 1.1 of this Instrument, terms defined in National Instrument 81-102 Investment Funds and used in this Instrument have the respective meanings ascribed to them in that Instrument.
(3) Terms defined in National Instrument 81-105 Mutual Fund Sales Practices and used in this Instrument have the respective meanings ascribed to them in that Instrument except that references in those definitions to “mutual fund” must be read as references to “investment fund”.
(1) A document that is required to be filed under this Instrument must be prepared in French or English.
(2) If an investment fund files a document in French or in English, and a translation of the document into the other language is sent to a securityholder, the investment fund must file the translated document not later than when it is sent to the securityholder.
(3) In Québec, the linguistic obligations and rights prescribed by Québec law must be complied with.