9000 For the purpose of paragraph (e) of the definition financial institution in subsection 142.2(1) of the Act, a trust is, at any particular time, a prescribed person if the following conditions are satisfied at that particular time:
(a) the trust is a related segregated fund trust (within the meaning assigned by paragraph 138.1(1)(a) of the Act);
(b) the trust is deemed, under paragraph 138.1(1)(a) of the Act, to have been created at a time that is not more than two years before that particular time; and
(c) the cost of the trustee’s interest (as determined by paragraph 138.1(1)(c) and (d) of the Act) in the trust does not exceed $5,000,000.
- [NOTE: Application provisions are not included in the consolidated text
- see relevant amending Acts and regulations.]
- 2009, c. 2, s. 118
- Date modified: