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C-2, r. 0.2 - Regulation respecting the terms and conditions of deposits, funds and portfolios of the Caisse de dépôt et placement du Québec
Section 20
Disposition versions
20. Withdrawals of participation deposits must be made by means of a notice of withdrawal sent to the Fund, indicating the amount of the withdrawal and the date of the withdrawal. Following receipt of such notice, the Fund proceeds according to the following terms and the conditions determined by the parties.
On the first day of the fiscal period of an individual fund, a specialized fund or the general fund following the month in which a depositor sent a notice of withdrawal, the Fund cancels a sufficient number of units of participation of the depositor subject to the limits provided for in this section. The proceeds from the cancellation of units of participation is paid on the same day into the demand deposit account.
Despite the first and second paragraphs, the maximum amount of withdrawals of participation deposits that the Fund is required to make monthly for a fiscal period is limited to the sum of $50,000,000.
The Fund may limit the periods of withdrawals of participation deposits for individual funds, specialized funds or the general fund that hold categories of illiquid assets. The Fund may also limit the amount of withdrawals of participation deposits on any category of assets where the conditions and circumstances of the markets restrict the liquidity of those assets.
Cancellations of units of participation not carried out because of the limits are postponed to the first days of subsequent fiscal periods, as the limits allow.
In force: 2019-01-03
20. Withdrawals of participation deposits must be made by means of a notice of withdrawal sent to the Fund, indicating the amount of the withdrawal and the date of the withdrawal. Following receipt of such notice, the Fund proceeds according to the following terms and the conditions determined by the parties.
On the first day of the fiscal period of an individual fund, a specialized fund or the general fund following the month in which a depositor sent a notice of withdrawal, the Fund cancels a sufficient number of units of participation of the depositor subject to the limits provided for in this section. The proceeds from the cancellation of units of participation is paid on the same day into the demand deposit account.
Despite the first and second paragraphs, the maximum amount of withdrawals of participation deposits that the Fund is required to make monthly for a fiscal period is limited to the sum of $50,000,000.
The Fund may limit the periods of withdrawals of participation deposits for individual funds, specialized funds or the general fund that hold categories of illiquid assets. The Fund may also limit the amount of withdrawals of participation deposits on any category of assets where the conditions and circumstances of the markets restrict the liquidity of those assets.
Cancellations of units of participation not carried out because of the limits are postponed to the first days of subsequent fiscal periods, as the limits allow.
