6. For the purposes of these Regulations, a person is associated with

• (a) a corporation that the person controls and every affiliate of every such corporation;

• (b) a person who controls the person;

• (c) a partner who has a substantial investment in a partnership in which the person has a substantial investment;

• (d) a trust or estate in which the person has a substantial investment or for which the person serves as trustee or in a capacity similar to that of a trustee;

• (e) the spouse or common-law partner of the person; and

• (f) a brother, sister or child or other descendant of the person, or the spouse or common-law partner of any of them.

7. For the purposes of subparagraphs 6(2)(g)(ii) and 10(1)(a)(ii) of the Act, the prescribed kind of superannuation or pension benefit is one that is

• (a) granted under the Judges Act;

• (b) payable under the Governor General's Act or the Lieutenant Governors Superannuation Act; or

• (c) payable out of the Consolidated Revenue Fund, or out of a superannuation or pension fund or plan pursuant to which contributions have been paid out of the Consolidated Revenue Fund in respect of employees engaged locally outside of Canada, and that is

  • (i) related in amount to the period of service that may be counted by the person to whom the superannuation or pension benefit is payable, and

  • (ii) payable in instalments during the lifetime of the recipient and after his or her lifetime if the plan under which the superannuation or pension benefit is payable so provides.

8. In selecting investments, the Board shall evaluate them having regard to the overall rate of return and risk of loss of the entire portfolio of investments held by the Board.

• 9. (1) A written statement of the investment policies, standards and procedures in respect of the Board's portfolio of investments, established under section 32 of the Act, shall include

  • (a) categories of investments;

  • (b) the use of options, futures and other derivatives;

  • (c) diversification of the investment portfolio;

  • (d) asset mix and rate of return expectations;

  • (e) policies for the management of credit, market and other financial risks;

  • (f) liquidity of investments;

  • (g) the lending of cash or securities;

  • (h) the retention or delegation of voting rights acquired through investments;

  • (i) [Repealed, SOR/2001-463, s. 2]

  • (j) the method of, and basis for, the valuation of investments that are not regularly traded at a public exchange; and

  • (k) related party transactions permitted under section 17 and the criteria used to establish whether the value of a transaction is nominal.

• (2) The statement referred to in subsection (1) shall include a description of all factors that may affect the funding of the pension plans established under the Acts referred to in paragraph 4(1)(a) of the Act and the ability of the pension plans to meet their financial obligations and the relationship of those factors to those policies, standards and procedures.

• (3) The board of directors shall review and confirm or amend the statement at least once each financial year.