EXTENSION OF HOLDING PERIOD OF TEMPORARY INVESTMENTS - MINISTER’S APPROVAL

Document Properties

  • Type of Publication: Transaction Instructions
  • Revised: April 2009
  • Index A No: 18
  • Category: Non Deemed Approval

Legislative Authorities

Information Requirements

  1. where the request for the proposed extension is for a specified period, the applicant is generally expected to provide:

    1. details of the temporary investment, including date of, and business rationale for, the acquisition, list of majority shareholders, nature of current and proposed business activities of the entity, and most recent financial statements of the entity; and

    2. the business rationale for requesting the extension and the plan for divestiture.

  2. where the request for the proposed extension is for an indeterminate period, refer to the information requirements set out in the document, Substantial Investment Requiring Minister’s Approval, A No. 8, which can be found in this series of Transaction Instructions.

Administrative Guidance

An application under any of the legislative authorities may be subject to such terms and conditions as the Minister considers necessary.

The information requirements and administrative guidance are intended to satisfy typical applications. They have been derived from OSFI’s experience in assessing applications. Applicants who provide all information and material requested can generally expect a more timely assessment of their applications. As appropriate to the circumstances, OSFI may request additional information, take into account other matters, impose terms and conditions, or require undertakings.