ONTARIO REGULATION 149/13
made under the
ONTARIO CAPITAL GROWTH CORPORATION ACT, 2008
Made: May 1, 2013
Filed: May 8, 2013
Published on e-Laws: May 8, 2013
Printed in The Ontario Gazette: May 25, 2013
Amending O. Reg. 278/09
(ADDITIONAL OBJECTS OF THE CORPORATION)
Note: Ontario Regulation 278/09 has not previously been amended.
1. Section 1 of Ontario Regulation 278/09 is revoked and the following substituted:
Additional objects of the Corporation
1. The following are prescribed as additional objects of the Corporation for the purposes of clause 4 (c) of the Act:
1. To acquire, manage and otherwise deal with a portfolio of 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. To participate in the formation of one or more funds, to acquire interests in the funds, and to hold, administer and otherwise deal with those interests, where each fund meets the following criteria:
i. It receives funding directly or indirectly from, among others, one or more of the following:
A. The Government of Canada.
B. The Corporation.
C. Private sector entities.
ii. Its goals include promoting the creation of a globally competitive venture capital industry, increasing the supply and effective deployment of early-stage investment capital, and increasing the supply of top-performing fund managers to manage venture capital investment, in Ontario and Canada.
iii. It invests in one or both of the following:
A. Other funds that supply venture capital to companies.
B. Innovative companies that require venture capital.
iv. It is managed by a private sector fund manager.
2. This Regulation comes into force on the day it is filed.