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F-3.1.2 - Act to establish Fondaction, le Fonds de développement de la Confédération des syndicats nationaux pour la coopération et l’emploi
Section 19.8
Disposition versions
19.8. For the purpose of applying section 19.3 to a fiscal year of the Fund, 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 19.3 and that is an investment in a large enterprise within the meaning of section 19.9 may not exceed 30% of the Fund’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 3 of the first paragraph of section 19.3 may not exceed 10% of the Fund’s average net assets for the preceding fiscal year; and
(3) the aggregate of all investments each of which is one of the following investments may not exceed 12% of the Fund’s net assets at the end of the preceding fiscal year:
(a) an investment that is deemed to have been made by the Fund and that is included in the class provided for in subparagraph 1 of the first paragraph of section 19.3 because of the first paragraph of section 19.4 or an investment that is, at the end of 31 May 2024, deemed to have been made by the Fund and that is included in that class as an investment described in subparagraph i or ii of subparagraph b of that subparagraph 1,
(b) an investment that is deemed to have been made by the Fund in Fonds Biomasse Énergie I, S.E.C. and that is included in the class provided for in subparagraph 2 of the first paragraph of section 19.3 because of the first paragraph of section 19.4 or an investment that is, at the end of 31 May 2024, deemed to have been made by the Fund 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 Fund and that is included in the class provided for in subparagraph 3 of the first paragraph of section 19.3 because of the first paragraph of section 19.4 or an investment that is, at the end of 31 May 2024, deemed to have been made by the Fund and that is included in that class as an investment described in subparagraph i or ii of subparagraph b of that subparagraph 3.
For the purposes of the first paragraph, the following rules apply:
(1) the Fund’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 19.3 that was disinvested may be taken into account to determine an aggregate described in subparagraph 1 or 2 of the first paragraph; and
(3) no investment that is, at the end of 31 May 2024, deemed to have been made by the Fund may be taken into account to determine the aggregate described in subparagraph 3 of the first paragraph, in the case where the investment has been made.
