Securities Law

81-107 - Independent Review Committee for Investment Funds [NI Proposed - Lapsed]

Published Date: 2005-05-27
Rescinded Date: 2006-07-28
Document(s):

Concurrently Published:

Table of Contents

Part 1 Definitions and application
1.1       Definitions
1.2       Investment funds subject to Instrument
1.3       Meaning of a “conflict of interest matter”
1.4       Meaning of “entity related to the manager”
1.5       Meaning of “independent”
1.6       Meaning of “inter-fund self-dealing investment prohibitions”
1.7       Meaning of “manager” 

Part 2 Functions of the manager
2.1       Manager standard of care
2.2       Manager to have written policies and procedures
2.3       Manager to maintain records
2.4       Manager to provide assistance
 

Part 3 Independent review committee
3.1       Independent review committee for investment funds
3.2       Initial appointment
3.3       Nominating criteria
3.4       Written charter
3.5       Composition
3.6       Term of office and vacancies
3.7       Standard of care
3.8       Ceasing to be a member
3.9       Authority
3.10     Fees and expenses to be paid by the investment fund
3.11     Indemnification and insurance
3.12     Orientation and continuing education

Part 4 Functions of independent review committee
4.1       Review matters referred by the manager
4.2       Regular assessments
4.3       Reporting to the manager
4.4       Reporting to securityholders
4.5       Reporting to securities regulatory authorities
4.6       Independent review committee to maintain records 

Part 5 Conflict of interest matters
5.1       Manager to refer conflict of interest matters to independent review committee
5.2       Matters requiring independent review committee approval
5.3       Matters subject to independent review committee recommendation
5.4       Standing instructions by the independent review committee

Part 6 Exempted transactions
6.1       Inter-fund trades
6.2       Transactions in securities of related issuers

Part 7 Exemption
7.1       Exemption
7.2       Existing exemptions, waivers or approvals

Part 8 Effective date
8.1       Effective date
8.2       Transition