C-2, r. 0.1 - Regulation respecting the terms and conditions of deposits, funds and portfolios of the Caisse de dépôt et placement du Québec

Schedule Disposition versions

2012-09-01

SCHEDULE A

(s. 7)

TRANSFER PROCEDURE OF A DEPOSITOR’S ASSETS FROM A SEGREGATED TO AN INDIVIDUAL FUND

(1) In this Schedule,

“apportionment” means apportionment to a depositor of part of the investments or other elements of assets or liabilities;

“depositor’s equity” means the sum of:

(1) the stated value of the depositor’s participation units;

(2) the share of accumulated income as at 31 December 1979 attributed to the depositor;

(3) the share of profit or loss on disposal of investments incurred since 1 January 1980 such as it would have been attributable to the depositor at the end of the fiscal period when such disposal occurred;

(4) the share of variance recorded on the withdrawal of participation units attributable to the depositor, in proportion to the units held by the depositor as compared to the fund’s total units at the time of transfer;

“net assets” means aggregate investments and other assets at stated value less corresponding liabilities; in the case of a specialized fund, this is equal to the depositors overall equity;

“share”: unless the content indicates otherwise, means the share of a depositor is that share represented by the number of participation units held by such depositor, in proportion to the fund’s total number of units;

“stated value” means residual value of an asset as determined when acquired or recorded, subject to the bookkeeping adjustments which have affected it since that time, until the transfer;

“unadjusted net assets of a depositor” means in the fund’s net assets, the prorata value of the participation units of the depositor as compared to the value of the aggregate participation units of the fund.

(2) For the purpose of transferring a depositor’s equity from a specialized fund to an individual fund, it is proceeded to the following as at 1 January 1983:

(1) the computation of:

(a) the value of the specialized fund net assets;

(b) the depositor’s unadjusted net assets;

(c) the depositor’s equity;

(d) the depositor’s equity is divided by its unadjusted net assets in order to set up an adjustment factor which will absorb the difference between the cost of investments for the specialized fund and the cost for the depositor;

(e) the depositor’s adjusted net assets are determined by replacing, in the depositor’s unadjusted net assets, the stated value of investments by the value obtained when applying to such stated value the adjustment factor mentioned above;

(2) the apportionment of assets in the following manner:

(a) the apportionment of assets and liabilities of the specialized fund is effected, on the whole, according to the share of each depositor;

(b) the apportionment of each element of assets and liabilities is effected, inasmuch as it is possible, according to the policy mentioned in paragraph a subject to the adjustments and terms agreed upon by the depositor and the Fund or as determined by resolution of the board of directors;

(3) the following operations:

(a) the closing of the accounts of the depositor’s adjusted net assets and the depositor’s equity in the specialized fund and the cancellation of the participation units held by the depositor in the fund;

(b) the remittance to the depositor’s individual fund of the elements of assets and liabilities attributed to the latter, at the closing value mentioned in paragraph a, said value to become the stated value in the individual fund, and the issue to the depositor of the number of participation units of fixed value of $1,000, as required for the purpose of obtaining a value equal to that of the transfer. Any fraction of $1,000 will be completed by the opening up of an account receivable;

(c) the equity of a depositor may be transferred from a specialized fund to an individual fund with the approval of the board of directors upon such conditions and terms adopted by resolution by the board of directors.

O.C. 118-2012, Sch. A.