Immigration and Refugee Protection Regulations

Marginal note:Reports

95 Every approved fund must submit to the Minister, until all investors in that fund have been repaid in accordance with paragraph 92(i), the following periodic reports for the purpose of demonstrating compliance with paragraph 92(f):

• (a) a quarterly report on the use of provincial allocations, including

  • (i) the names of the recipients of the portion of the provincial allocations invested,

  • (ii) a description of and the terms of the security received for that investment,

  • (iii) the date on which the portion of the provincial allocations is invested,

  • (iv) the date on which the portion of the provincial allocations invested is recovered by the approved fund,

  • (v) a brief description of the use of the portion of the provincial allocations invested,

  • (vi) the number of full-time job equivalents created by the portion of the provincial allocations invested, and

  • (vii) the code for each recipient of the investment as set out in the Canadian Standard Industrial Classification for Companies and Enterprises, 1980; and

• (b) audited annual financial statements for the approved fund, submitted within 180 days after the end of each financial year.