Securities Law

41-101F3 - Information Required in a Scholarship Plan Prospectus [F Proposed - Lapsed]

Published Date: 2011-11-25
Rescinded Date: 2013-01-10
Document(s):

Concurrently Published:

Table of Contents

Part A — Plan Summary for a Scholarship Plan 9

Item 1 — Information About the Plan 9
Item 2 – Withdrawal  and Cancellation Rights 9
Item 3 – Description of the Scholarship Plan 10
Item 4 – Suitability 10
Item 5 – The Plan’s Investments 11
Item 6 – Contributions 11
Item 7 – Payments 11
Item 8 – Risks 12
Item 9 – Costs 14
Item 10 – Guarantees 17
Item 11 – For More Information 17

Part B — General Disclosure 18

Item 1 — Cover Page Disclosure 18
1.1 — Preliminary Prospectus Disclosure 18
1.2 — Required Statement 18
1.3 — Basic Disclosure about the Distribution 18
Item 2 — Inside Cover Page 19
2.1 — Introduction 19
2.2 — No Social Insurance Number 19
2.3 — Payments Not Guaranteed 20
2.4 — Withdrawal and Cancellation Rights 21
Item 3 — Table of Contents 21
3.1 — Table of Contents 21
Item 4 — Introduction and Glossary 21
4.1 — Introduction and Documents Incorporated by Reference 22
4.2 — Terms Used in the Prospectus 22
Item 5 — Overview of Scholarship Plans 25
5.1 — Introductory Heading 25
5.2 — Description of Scholarship Plans 25
5.3 — List of Scholarship Plans Offered 25
Item 6 — General Information about Scholarship Plan Life Cycle 26
6.1 — Overview of Scholarship Plan Life Cycle 26
6.2 — Enrolling in a Scholarship Plan 27
6.3 — Unregistered Accounts 27
6.4 — Grants 27
6.5 — Contribution Limits 28
6.6 — Additional Services 29
6.7 — Fees and Expenses 29
6.8 — Eligible Studies 29
6.9 — Payments from the Scholarship Plan 29
6.10 — Unclaimed Accounts 30
Item 7 — Scholarship Plans with Same Investment Objectives (Multiple Prospectus) 30
7.1 — Investment Objectives 30
Item 8 — Scholarship Plans with Same Investment Strategies (Multiple Prospectus) 31
8.1 — Investment Strategies 31
Item 9 — Scholarship Plans with Same Investment Restrictions (Multiple Prospectus) 32
9.1 — Investment Restrictions 32
Item 10 — Risks of Investing in a Scholarship Plan 32
10.1 — Risks of Investing in a Scholarship Plan 32
Item 11 — Income Tax Considerations 33
11.1 — Status of the Scholarship Plan 33
11.2 — Taxation of the Scholarship Plan 34
11.3 — Taxation of the Subscriber 34
11.4 — Taxation of the Beneficiary 34
Item 12 — Organization and Management Details of the Scholarship Plan 35
12.1 — Organization and Management Details 35
Item 13 — Statement of Rights 36
13.1 — Statement of Rights 36
Item 14 — Other Material Information 36
14.1 — Other Material Information 36
Item 15 — Back Cover 37
15.1 — Back Cover 37

Part C — Plan-Specific Information 37

Item 1— General 37
Item 2 — Introductory Disclosure 38
2.1 — For a Single Prospectus 38
2.2 — For a Multiple Prospectus 38
Item 3 — Plan Description 38
3.1 — Plan Description 38
Item 4 — Eligibility and Suitability 38
4.1 — Eligibility and Suitability 38
Item 5 — Beneficiary Group 39
5.1 — Beneficiary Group 39
Item 6 — Eligible Studies 40
6.1 — Summary of Eligible Studies 40
6.2 — Description of Eligible Programs 40
6.3 — Description of Ineligible Programs 40
Item 7 — Investment Objectives 41
7.1 — Investment Objectives 41
Item 8 — Investment Strategies 42
8.1 — Investment Strategies 42
Item 9 — Investment Restrictions 42
9.1 — Investment Restrictions 42
Item 10 — Plan-Specific Risks 43
10.1 — Plan Risks 43
10.2 — Investment Risks 44
Item 11 — Annual Returns 45
11.1 — Annual Returns 45
Item 12 — Contributions 45
12.1 — Making Contributions 45
12.2 — Missing Contributions 48
Item 13 — Withdrawing Contributions 49
13.1 — Withdrawing Contributions 49
Item 14 — Fees and Expenses 49
14.1 — Costs of Investing in the Scholarship Plan 49
14.2 — Fees Payable by Subscriber from Contributions 50
14.3 — Fees Payable by the Scholarship Plan 51
14.4 — Transaction Fees 52
14.5 — Fees for Additional Services 52
14.6 — Refund of Sales Charges and Other Fees 53
Item 15 — Making Changes to a Subscriber’s Plan 54
15.1 — Changing Contributions 54
15.2 — Changing Maturity Date 54
15.3 — Changing Year of Eligibility 55
15.4 — Changing Subscriber 55
15.5 — Changing Beneficiary 55
15.6 — Death or Disability of Beneficiary 56
Item 16 — Transfer of Scholarship Plan 56
16.1 — Transferring to another Plan Managed by the Investment Fund Manager 57
16.2 — Transferring to another RESP Provider 57
16.3 — Transferring from another RESP Provider to the Scholarship Plan 57
Item 17 — Default, Withdrawal  or Cancellation 58
17.1 — Withdrawal or Cancellation by Subscriber 58
17.2 — Subscriber Default 58
17.3 — Cancellation by Investment Fund Manager 59
17.4 — Re-activation of Subscriber’s Plan 59
17.5 — Plan Expiration 59
Item 18 — Plan Maturity 60
18.1 — Description of Plan Maturity 60
18.2 — If the Beneficiary Does Not Enrol in Eligible Studies 60
Item 19 — Payments from the Scholarship Plan 61
19.1 — Return of Contributions 61
19.2 — Payments to Beneficiaries 61
19.3 — Amount of EAPs 62
19.4 — Payments from the EAP Account 63
19.5 — If Beneficiary Does Not Complete or Advance in Eligible Studies 65
Item 20 — Accumulated Income Payments 66
20.1 — Accumulated Income Payments 66
Item 21 — Discretionary Payments to Beneficiaries 66
21.1 — Discretionary Payments to Beneficiaries 66
21.2 — Historical Amount of Discretionary Payments 67
Item 22 — Attrition 68
22.1 — Attrition 68
22.2 — Pre-Maturity Attrition 69
22.3 — Post-Maturity Attrition 71
Item 23 — Other Material Information 74
23.1 — Other Material Information 74

Part D — Information About the Organization 75

Item 1 — Legal Structure of the Scholarship Plan 75
1.1 — Legal Structure 75
Item 2 — Organization and Management Details 75
2.1 — Investment Fund Manager 75
2.2 — Directors, Officers and Trustees 78
2.3 – The Foundation 78
2.4 — Independent Review Committee 78
2.5 — Remuneration of Directors, Officers, Trustees and Independent Review Committee Members 79
2.6 — Portfolio Adviser 80
2.7 — Principal Distributor 80
2.8 — Dealer Compensation 81
2.9 — Custodian 82
2.10 — Auditor 82
2.11 — Transfer Agent and Registrar 82
2.12 — Promoter 83
2.13 — Other Service Providers 85
2.14 — Ownership of the Investment Fund Manager and Other Service Providers 85
2.15 — Affiliates of the Investment Fund Manager 87
Item 3 — Experts 87
3.1 — Names of Experts 87
3.2 — Interests of Experts 87
Item 4 — Subscriber Matters 88
4.1 — Subscribers Matters 88
4.2 — Matters Requiring Subscriber Approval 88
4.3 — Amendments to Declaration of Trust 88
4.4 — Reporting to Subscribers and Beneficiaries 88
Item 5 — Business Practices 88
5.1 — Policies 88
5.2 – Brokerage Arrangements 89
5.3 — Valuation of Portfolio Investments 90
5.4 — Proxy Voting Disclosure for Portfolio Securities Held 90
Item 6 – Conflicts of Interest 91
6.1 — Conflicts of Interest 91
6.2 — Interests of Management and Others in Material Transactions 91
Item 7 — Material Contracts 91
7.1 — Material Contracts 91
Item 8 — Legal Matters 92
8.1 — Exemptions and Approvals 92
8.2 — Legal and Administrative Proceedings 92
Item 9 — Certificates 93
9.1 — Certificate of the Scholarship Plan 93
9.2 — Certificate of the Investment Fund Manager 93
9.3 — Certificate of the Principal Distributor 93
9.4 — Certificate of the Promoter 94
9.5 — Amendments 94