Public Sector Pension Investment Board Regulations — 1
1 The definitions in this section apply in these Regulations. Act means the Public Sector Pension Investment Board Act . ( Loi ) Canadian corporation [Repealed, SOR/2001-463, s. 1] Canadian resource property has the same meaning as in paragraph (c) of the definition Canadian resource property in subsection 66(15) of the Income Tax Act . ( avoir minier canadien ) child means the child of, or an individual adopted either legally or in fact by, a person or the person's spouse or common-law partner. ( enfant ) common-law partner , in relation to an individual, means a person who is cohabiting in a relationship of a conjugal nature with the individual, having so cohabited for a period of at least one year at the relevant time. ( conjoint de fait ) debt obligation means a bond, debenture, note or other evidence of indebtedness of an entity. ( titre de créance ) derivative means a financial instrument or agreement whose value is derived from or is based on an underlying asset or the relationship between two underlying assets, other than (a) a convertible security; (b) an asset-backed security; (c) a security of a mutual fund; (d) an index participation unit; (e) a security of a non-redeemable fund; (f) a government or corporate strip bond; or (g) a listed dividend share of a subdivided equity or fixed income security. ( instrument dérivé ) financial institution means (a) a bank; (b) a body corporate to which the Trust and Loan Companies Act applies; (c) a cooperative credit society to which the Cooperative Credit Associations Act applies; (d) an insurance company to which the Insurance Companies Act applies; (e) a trust, loan or insurance corporation incorporated by or under an Act of the legislature of a province; (f) a cooperative credit society incorporated and regulated by or under an Act of the legislature of a province; (g) an entity that is incorporated or formed by or under an Act of Parliament or of the legislature of a province and that is primarily engaged in dealing in securities, including portfolio management and investment counselling; or (h) a foreign institution. ( institution financière ) foreign institution means an entity that is (a) engaged in the business of banking, the trust, loan or insurance business, the business of a cooperative credit society or the business of dealing in securities or is engaged primarily in the business of providing financial services; and (b) incorporated or formed otherwise than by or under an Act of Parliament or of the legislature of a province. ( institution étrangère ) investment corporation means a corporation that (a) holds at least 98 per cent of its assets in cash, investments and loans; (b) does not issue debt obligations; and (c) obtains at least 98 per cent of its income from investments and loans. ( société de placement ) loan includes a deposit, financial lease, conditional sales contract, repurchase agreement and any other similar arrangement for obtaining money or credit, but does not include investments in securities or the making of an acceptance, endorsement or other guarantee. ( prêt ) market terms and conditions , in respect of a transaction, means terms and conditions, including those relating to price, rent or interest rate, that would apply to a similar transaction in an open market under conditions requisite to a fair transaction between parties who are at arm's length and acting prudently, knowledgeably and willingly. ( conditions du marché ) person includes an entity. ( personne ) public exchange means a market for the trading of securities that is recognized by an appropriate governmental authority. ( bourse ) real estate corporation means a corporation incorporated to acquire, hold, maintain, improve, lease or manage real or immovable property other than real property that yields petroleum or natural gas. ( société immobilière) ) real or immovable property includes a leasehold interest in real or immovable property. ( biens immeubles ou réels ) real propert