British Columbia Order in Council — Order under Financial Institutions Mutual Fund Trustee Exemption Regulation (O.C. 655/2000)

O.C. 655/2000

British Columbia — Orders in Council

PROVINCE OF BRITISH COLUMBIA ORDER OF THE LIEUTENANT GOVERNOR IN COUNCIL Order in Council No. 655 , Approved and Ordered MAY _ Lieutenant Governor Executive Council Chambers, Victoria On the recommendation of the undersigned, the Lieutenant Governor, by and with the advice and consent of the Executive Council, orders that the attached Mutual Fund Trustee Exemption Regulation is made. Minister of Finance and Corporate Relations Presiding ember of the Executive Council (This

part is fbr administrative purposes only and not part of the Order) Authority under shich Order is made: Act and section:- Financial Institutions Act, s. 289 (4) (

o) Other (specit.)1:- April 26, 2000 708/2000/13 MUTUAL FUND TRUSTEE EXEMPTION REGULATION Definition In this regulation, "mutual fund trust" means (

a) a "mutual fund" as defined in

section of the Securities Act organized as a trust, (

b) a "mutual fund trust" as defined in section 132 (6) of the Income Tax Act (Canada), or (

c) a trust that is not yet described by paragraph (

b) but is acting in anticipation of making an election described in section 132 (6.1) of the Income Tax Act (Canada). Mutual Fund Trustee exemption from

section of the Financial Institutions Act 2

(1) A corporation is exempt from

section of the Financial Institutions Act on condition that (

a) it acts as the trustee of a mutual fund trust in British Columbia, (

b) it is the manager, within the meaning of National Instrument 81 - 102, of the mutual fund trust, and (

c) the securities, as defined in

section of the Securities Act, of that mutual fund trust are only distributed by means of a prospectus or simplified prospectus for which the executive director, as defined in

section of the Securities Act, has issued a receipt under the Securities Act.

(2) A corporation is exempt under subsection (1) only for the purposes of the mutual fund trust described by subsection (1).

Document details

Collection	British Columbia — Orders in Council
Citation	O.C. 655/2000
Type	order_in_council
Volume / chapter	arc oic 0655 2000
Language	en
Format	pdf
Source	PROVINCIAL
Identifier	14a14e53af14e3771ea720206aebb33245a195b4

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