C-6.1 - Act constituting Capital régional et coopératif Desjardins

Section 19.0.0.7 Disposition versions

2024-05-07

19.0.0.7. For the purpose of applying section 19.0.0.2 to a fiscal year of the Société, the following restrictions apply:

(1)  the aggregate of all investments each of which is an investment that is included in the class provided for in subparagraph 1 of the first paragraph of section 19.0.0.2 and that is an investment in a large entity within the meaning of section 19.0.0.8 may not exceed 30% of the Société’s average net assets for the preceding fiscal year;

(2)  the aggregate of all investments each of which is an investment included in the class provided for in subparagraph 2 of the first paragraph of section 19.0.0.2 and made in Société en commandite Essor et Coopération may not exceed $85,000,000;

(3)  the aggregate of all investments each of which is an investment included in the class provided for in subparagraph 3 of the first paragraph of section 19.0.0.2 may not exceed 10% of the Société’s average net assets for the preceding fiscal year; and

(4)  the aggregate of all amounts each of which is either the Société’s share in an investment that is, at the end of 31 December 2023, deemed to have been made by a limited partnership or a fund and that is included in the class provided for in subparagraph 1 of the first paragraph of section 19.0.0.2 as an investment described in subparagraph iv of subparagraph b of that subparagraph 1 or any of the following investments may not exceed 12% of the Société’s net assets at the end of the preceding fiscal year:

(a)  an investment that is deemed to have been made by the Société and that is included in the class provided for in subparagraph 1 of the first paragraph of section 19.0.0.2 because of the first paragraph of section 19.0.0.3 or an investment that is, at the end of 31 December 2023, deemed to have been made by the Société and that is included in that class as an investment described in subparagraph i or iii of subparagraph b of that subparagraph 1,

(b)  an investment that is deemed to have been made by the Société in Société en commandite Essor et Coopération and that is included in the class provided for in subparagraph 2 of the first paragraph of section 19.0.0.2 because of the first paragraph of section 19.0.0.3 or an investment that is, at the end of 31 December 2023, deemed to have been made by the Société in that limited partnership and that is included in that class as an investment described in subparagraph ii of subparagraph b of that subparagraph 2, or

(c)  an investment that is deemed to have been made by the Société and that is included in the class provided for in subparagraph 3 of the first paragraph of section 19.0.0.2 because of the first paragraph of section 19.0.0.3.

For the purposes of the first paragraph, the following rules apply:

(1)  the Société’s net assets and average net assets must be determined by taking into account the rules set out in the third paragraph of section 19;

(2)  no investment described in subparagraph b of subparagraphs 1 to 3 of the first paragraph of section 19.0.0.2 that was disinvested may be taken into account to determine an aggregate described in any of subparagraphs 1 to 3 of the first paragraph; and

(3)  no investment that is, at the end of 31 December 2023, deemed to have been made by the Société, nor any share of the Société in an investment that is, on that date, deemed to have been made by a limited partnership or a fund may be taken into account to determine the aggregate described in subparagraph 4 of the first paragraph, in the case where the investment has been made.

2024, c. 11, s. 14.