Draft Regulation to Amend the Securities Regulation on Mutual Fund Fee Duplication

1020 GAZETTE OFFICIELLE DU QUÉBEC, April 6, 2022, Vol. 154, No. 14 Part 2 Draft Regulation Securities Act (chapter V-1.1) Securities —Amendment Notice is hereby given, in accordance with sections 10 and 11 of the Regulations Act (chapter R-18.1), that the draft regulation to amend the Securities Regulation, appearing below, may be submitted to the Government, which may approve it with or without amendment, on the expiry of 45 days following this publication. The draft regulation amends the Securities Regulation (chapter V-1.1, r. 50) to prevent the duplication of the fees in the case of a mutual fund which invests only part of its assets in one or more other mutual funds of the same group. In that case, the fees will be payable only on the gross value of the securities distributed by the first mutual fund. The proposed amendment has no impact on enterprises, including small and medium-sized businesses. Further information on the draft regulation may be obtained by contacting Jean-Hubert Smith-Lacroix, coordinator, legislative and regulatory development, Direction générale du droit corporatif et des poli￾tiques relatives au secteur financier, Ministère des Finances, by email at: Jean-Hubert.Smith-Lacroix@ finances.gouv.qc.ca. Any person wishing to comment on the draft regula￾tion is requested to submit written comments within the 45-day period to the Minister of Finance, 390, boulevard Charest Est, 8e étage, Québec (Québec) G1K 3H4. Eric Girard Minister of Finance REGULATION TO AMEND THE SECURITIES REGULATION Securities Act (chapter V-1.1, s. 331, subpar. (9))

1. The Securities Regulation (chapter V-1.1, r. 50) is amended by replacing the
   words “all its assets” in paragraph 1 of section 271 with the words “all or part of its assets”.
2. This Regulation comes into force on the fifteenth day following its publication in the
   Gazette officielle du Québec.
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   © Éditeur officiel du Québec, 2022