a-6.001, r. 8 - Regulation respecting investments made by a body

Updated to 1 September 2012

This document has official status.

chapter A-6.001, r. 8

Regulation respecting investments made by a body

Financial Administration Act

(chapter A-6.001, s. 77.2).

1. This Regulation applies to short-term investments, except securities lending, made by a body out of its temporary surplus of liquid assets or its operating fund.

In this Regulation, “short-term” means a maturity date of less than 365 days.

O.C. 956-2008, s. 1.

2. The authorization of the Minister of Finance and the authorization of the Minister responsible for the administration of the Act governing the body referred to in the first paragraph of section 77.2 of the Financial Administration Act (chapter A-6.001) are not required in the case of the following investments made by a body:

(1)  a deposit of money or demand loan with a financial institution authorized to carry on its activities under a law applicable in Québec or Canada;

(2)  an investment made by the Minister of Finance under a mandate assigned by the body;

(3)  any other investment, including a deposit with the Caisse de dépôt et placement du Québec, which meets the following conditions:

(a)  it is made with a financial institution authorized to carry on its activities under a law applicable in Québec or Canada, with the Caisse de dépôt et placement du Québec or through dealers registered with the Autorité des marchés financiers or any other Canadian authority in securities;

(b)  it is made through the purchase of one of the following:

i.  a Treasury bond or a short-term note issued or guaranteed by the Gouvernement du Québec, the Government of Canada or the government of another province or Canadian territory;

ii.  a short-term note issued or guaranteed by a municipality or municipal body situated in Québec or by a body within the meaning of section 77 of the Financial Administration Act;

iii.  a bond or coupon issued or guaranteed by the Gouvernement du Québec, the Government of Canada or the government of another province or Canadian territory and whose residual maturity is less than 365 days;

iv.  a bond or coupon issued or guaranteed by a municipality or municipal body situated in Québec or by a body within the meaning of section 77 of the Financial Administration Act and whose residual maturity is less than 365 days; or

v.  a certificate, note or other security or short-term paper issued or guaranteed by a bank listed in Schedules I, II and III to the Bank Act (S.C. 1991, c. 46), by the Caisse de dépôt et placement du Québec or by a financial services cooperative.

O.C. 956-2008, s. 2.

3. The authorization of the Minister of Finance and the authorization of the Minister responsible for the administration of the Act governing the body are not required in respect of a special fund or an endowment fund created and administered, in accordance with section 269 of the Act respecting health services and social services (chapter S-4.2), by an institution that makes the investments referred to in section 2.

The term of the investment may not exceed the term provided for the use of the funds, if any.

O.C. 956-2008, s. 3.

4. (Omitted).

O.C. 956-2008, s. 4.

REFERENCES

O.C. 956-2008, 2008 G.O. 2, 5000