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ontario regulation 424/17
made under the
Ontario Capital Growth Corporation Act, 2008
Made: November 1, 2017
Filed: November 7, 2017
Published on e-Laws: November 7, 2017
Printed in The Ontario Gazette: November 25, 2017
Amending O. Reg. 278/09
(ADDITIONAL OBJECTS OF THE CORPORATION)
1. Section 1 of Ontario Regulation 278/09 is revoked and the following substituted:
Investments
1. (1) The following are prescribed as classes of investments for the purposes of clause 4 (b) of the Act:
1. Investments in venture capital funds that invest in,
i. for-profit businesses, if the venture capital fund’s investments include investments in private businesses, or
ii. other venture capital funds that invest in for-profit businesses if the other venture capital fund’s investment includes investments in private businesses.
2. Investments in for-profit businesses that are,
i. private businesses, or
ii. public businesses, if the Corporation,
A. invested in the business when it was a private business, or
B. has an investment in a venture capital fund described in paragraph 1 that made a direct or indirect investment in the business when it was a private business.
3. Investments in businesses that the Corporation considers to be emerging technology businesses, which portfolio shall be known in English as the Ontario Emerging Technologies Fund and in French as Fonds ontarien de développement des technologies émergentes.
(2) In this section,
“private business” means a business that is not a public business; (“société fermée”)
“public business” means a business that lists its securities on a stock exchange. (“société ouverte”).
Objects
2. The following are prescribed as additional objects of the Corporation for the purposes of clause 4 (c) of the Act:
1. To develop or participate in conferences or other events regarding venture capital matters.
2. To collect, analyze or distribute information regarding venture capital matters.
3. To provide advice to the Government of Ontario on venture capital matters.
4. To undertake other activities that are similar or related to the objects described in paragraphs 1, 2 and 3.
Commencement
2. This Regulation comes into force on the day it is filed.