R-15.1, r. 6.2 - General Regulation respecting supplemental pension plans

Section 77.1 Disposition versions

2012-09-01

77.1. The assets of a plan may be invested in a real estate trust, provided that the sum of the book value of the units and shares of the real estate trust held by the plan, or in its name, and of the total liabilities of the real estate trust towards the plan do not at any time exceed 10% of the book value of the plan’s total assets.

In this section, “real estate” includes leaseholds outside Québec and “real estate trust” means a pooled or segregated fund or an investment company whose objects or main transactions consist of acquiring and holding real estate for the purpose of deriving income from it, and which, at the time the investment is made, fulfils the following conditions:

(1)  investments of the real estate trust, other than those in real estate, may only be made in compliance with the standards of this Division;

(2)  the total amount of investments and loans of the real estate trust in the same real estate does not exceed 10% of the book value of the net assets of the real estate trust;

(3)  the total liabilities of the real estate trust resulting from borrowing money, the repayment of which is not secured by real estate, do not exceed 10% of the book value of the net assets of the real estate trust; and

(4)  the total amount of investment of the real estate trust in real estate other than that acquired and held for the purpose of deriving income from it does not exceed 10% of the book value of the net assets of the real estate trust.

O.C. 377-84, s. 3.