1 (1) In this Act, “adviser” means a person or company engaging in or holding himself, herself or itself out as engaging in the business of advising others as to trading in contracts; (“conseiller”) “benchmark” means a price, estimate, rate, index or value that is, (a)  determined, from time to time, by reference to an assessment of one or more underlying interests, (b)  made available to the public, either free of charge or on payment, and (c)  used for reference for any purpose, including, (i)  determining the interest payable, or other sums that are due, under a contract, derivative, instrument or security, (ii)  determining the value of a contract, derivative, instrument or security or the price at which it may be traded, (iii)  measuring the performance of a contract, derivative, investment fund, instrument or security, or (iv)  any other use by an investment fund; (“indice de référence”) “benchmark administrator” means a person or company that administers a benchmark; (“administrateur d’indice de référence”) “benchmark contributor” means a person or company that engages or participates in the provision of information for use by a benchmark administrator for the purpose of determining a benchmark, including a person or company subject to a decision under section 21.6; (“contributeur à un indice de référence”) “benchmark user” means a person or company that, in relation to a contract, derivative, investment fund, instrument or security, uses a benchmark; (“utilisateur d’indice de référence”) “Capital Markets Tribunal” means the Capital Markets Tribunal established under section 25 of the Securities Commission Act, 2021; (“Tribunal des marchés financiers”) “Chief Adjudicator” means the Chief Adjudicator of the Capital Markets Tribunal; (“arbitre en chef”) “clearing house” means an association or organization, whether incorporated or unincorporated, or part of a commodity futures exchange through which trades in contracts entered into on such exchange are cleared; (“chambre de compensation”) “Commission” means the Ontario Securities Commission continued under the Securities Commission Act, 2021; (“Commission”) “commodity” means, whether in the original or a processed state, any agricultural product, forest product, product of the sea, mineral, metal, hydrocarbon fuel, currency or precious stone or other gem, and any goods, article, service, right or interest, or class thereof, designated as a commodity under the regulations; (“marchandise”) “commodity futures contract” means a contract to make or take delivery of a specified quantity and quality, grade or size of a commodity during a designated future month at a price agreed upon when the contract is entered into on a commodity futures exchange pursuant to standardized terms and conditions set forth in such exchange’s by-laws, rules or regulations; (“contrat à terme sur marchandises”) “commodity futures exchange” means an association or organization, whether incorporated or unincorporated, operated for the purpose of providing the facilities necessary for the trading of contracts; (“bourse de contrats à terme sur marchandises”) “commodity futures option” means a right, acquired for a consideration, to assume a long or short position in relation to a commodity futures contract at a specified price and within a specified period of time and any other option of which the subject is a commodity futures contract; (“option sur contrat à terme sur marchandises”) “company” means any corporation, incorporated association, incorporated syndicate or other incorporated organization; (“compagnie”) “contract” means any commodity futures contract and any commodity futures option; (“contrat”) “dealer” means a person or company that trades in contracts in the capacity of principal or agent; (“courtier”) “decision” means, in respect of a decision of the Commission, the Tribunal or a Director, a direction, decision, order, ruling or other requirement made under a power or right conferred by this Act or the regulations; (“décision”) “declaration date”, where used in relation to a commodity futures option, means the date on which the option expires; (“date d’échéance”) “designated benchmark” means a benchmark that is designated by the Commission under section 21.5; (“indice de référence désigné”) “designated benchmark administrator” means a benchmark administrator that is designated by the Commission under section 21.5 in respect of a designated benchmark; (“administrateur d’indice de référence désigné”) “Director” means the Chief Executive Officer of the Commission, the Executive Director of the Commission, a Director or Deputy Director of the Commission or a person employed by the Commission in a position designated by the Chief Executive Officer of the Commission for the purpose of this definition; (“directeur”) “director” means a director of a company or an individual performing a similar function or occupying a similar position for any person; (“administrateur”) “floor trader” means an individual who is employed by a dealer for the purpose of entering into contracts on the floor of a commodity futures exchange on behalf of such dealer; (“négociateur en bourse”) “hedger” means a person or company who carries on agricultural, mining, forestry, processing, manufacturing or other commercial activities and, as a necessary part of these activities, becomes exposed from time to time to a risk attendant upon fluctuations in the price of a commodity and offsets that risk through trading in contracts for the commodity or related commodities whether or not any particular trade is effected for that purpose, but a person or company is a hedger only as to trades in contracts for such commodity or related commodities; (“arbitragiste en couverture”) “investment fund” means a mutual fund or a non-redeemable investment fund; (“fonds d’investissement”) “liquidating trade” means effecting settlement of a commodity futures contract, (a)  in relation to a long position, by assuming an offsetting short position in relation to a contract entered into on the same commodity futures exchange for a like quantity and quality, grade or size of the same commodity deliverable during the same designated future month, (b)  in relation to a short position, by assuming an offsetting long position in relation to a contract entered into on the same commodity futures exchange for a like quantity and quality, grade or size of the same commodity deliverable during the same designated future month; (“liquidation”) “long position”, where used in relation to a commodity futures contract, means to be under an obligation to take delivery; (“position acheteur”) “market participant” means a registrant, a person or company exempted from the requirement to be registered under this Act, a recognized clearing house, a registered commodity futures exchange, a recognized commodity futures exchange, a recognized self-regulatory organization, a person or company that is exempt from the requirement under subsection 16 (1) or 17 (1) to be recognized by the Commission, the Canadian Investor Protection Fund, the Toronto Futures Exchange Contingency Fund, the general partner of a market participant, a designated benchmark administrator, a person or company that engages or participates in the provision of information for use by a benchmark administrator for the purpose of determining a designated benchmark or any other person or company or member of a class of persons or companies designated by the regulations; (“participant au marché”) “Minister” means the Minister of Finance or other member of the Executive Council to whom the administration of this Act may be assigned; (“ministre”) “misrepresentation” means, (a)  an untrue statement of material fact, or (b)  an omission to state a material fact that is required to be stated or that is necessary to make a statement not misleading in the light of the circumstances in which it was made; (“présentation inexacte des faits”) “mutual fund” means an issuer whose primary purpose is to invest money provided by its security holders and whose securities entitle the holder to receive, on demand or within a specified period after demand, an amount computed by reference to the value of a proportionate interest in the whole or in part of the net assets, including a separate fund or trust account, of the issuer; (“fonds mutuel”) “non-redeemable investment fund” means an issuer, (a)  whose primary purpose is to invest money provided by its security holders, (b)  that does not invest, (i)  for the purpose of exercising or seeking to exercise control of an issuer, other than an issuer that is a mutual fund or a non-redeemable investment fund, or (ii)  for the purpose of being actively involved in the management of any issuer in which it invests, other than an issuer that is a mutual fund or a non-redeemable investment fund, and (c)  that is not a mutual fund; (“fonds d’investissement à capital fixe”) “officer” means the chair or any vice-chair of the board of directors, the president, vice-president, secretary, assistant secretary, treasurer, assistant treasurer or general manager of a company, or any other person designated an officer of a company by by-law or similar authority, or any individual acting in a similar capacity on behalf of a registrant; (“dirigeant”) “Ontario commodity futures law” means, (a)  this Act, (b)  the regulations, and (c)  in respect of a person or company, a decision of the Commission, the Tribunal or a Director to which the person or company is subject; (“droit ontarien des contrats à terme sur marchandises”) “open commodity futures contract” means an outstanding obligation under a commodity futures contract for which settlement has not been effected by the tender and receipt of the commodity or of an instrument evidencing title or the right to such commodity or by a liquidating trade; (“contrat à terme sur marchandises en cours”) “open interest”, where used in relation to commodity futures contracts, means the total outstanding long positions or the total outstanding short positions, for each delivery month and in aggregate, in commodity futures contracts relating to a particular commodity entered into on a commodity futures exchange; (“intérêts en cours”) “person” means an individual, partnership, unincorporated association, unincorporated syndicate, unincorporated organization, trust, trustee, executor, administrator, or other legal representative; (“personne”) “premium”, where used in relation to a commodity futures option, means the consideration for which the option is acquired; (“prix de l’option”) “recognized clearing house” means a clearing house recognized by the Commission under subsection 17 (1); (‘‘chambre de compensation reconnue”) Note: On a day to be named by proclamation of the Lieutenant Governor, the definition of “recognized clearing house” in subsection 1 (1) of the Act is amended by striking out “subsection 17 (1)” and substituting “subsection 17 (2)”. (See: 2017, c. 8, Sched. 5, s. 1) “recognized commodity futures exchange” means a person or company that is recognized by the Commission as a commodity futures exchange under this Act or that is exempted from the requirement to be recognized; (“bourse reconnue de contrats à terme sur marchandises”) “recognized self-regulatory organization” means a self-regulatory organization recognized by the Commission under subsection 16 (1); (“organisme d’autoréglementation reconnu”) “registered commodity futures exchange” means a person or company that is registered by the Commission as a commodity futures exchange under this Act; (“bourse inscrite de contrats à terme sur marchandises”) “registrant” means a person or company registered or required to be registered under this Act; (“personne ou compagnie inscrite”) “regulations” means the regulations made under this Act and, unless the context otherwise indicates, includes the rules; (“règlements”) “rules” means, (a)  the rules made under section 65, and (b)  the orders and rulings listed in the Schedule to this Act; (“règles”) “salesperson” means an individual who is employed by a dealer for the purpose of making trades in contracts on behalf of such dealer; (“représentant”) “security” means a security within the meaning of the Securities Act; (“valeur mobilière”) “self-regulatory organization” means a person or company that represents registrants and is organized for the purpose of regulating the operations and standards of practice and business conduct of its members and their representatives with a view to promoting the protection of investors and the public interest; (“organisme d’autoréglementation”) “settlement price”, where used in relation to a commodity futures contract, means the price which is used by a commodity futures exchange or its clearing house to determine, daily, the net gains or losses in the value of open commodity futures contracts; (“cours”) “short position”, where used in relation to a commodity futures contract, means to be under an obligation to make delivery; (“position vendeur”) “striking price”, where used in relation to a commodity futures option, means the price at which the purchaser of the option has the right to assume a long or short position in relation to the commodity futures contract that is the subject of the option; (“prix de levée”) “trade” or “trading” includes, (a)  entering into contracts, whether as principal or agent, (b)  acting as a floor trader, (c)  any receipt by a registrant of an order to effect a transaction in a contract, (d)  any assignment or other disposition of rights under a contract except a disposition arising from the death of an individual enjoying rights under a contract, and (e)  any act, advertisement, solicitation, conduct or negotiation directly or indirectly in furtherance of the foregoing; (“opération”) “Tribunal” means the Capital Markets Tribunal. (“Tribunal”)  R.S.O. 1990, c. C.20, s. 1; 1999, c. 9, s. 22 (1-4); 2014, c. 7, Sched. 5, s. 1; 2017, c. 34, Sched. 7, s. 1; 2018, c. 17, Sched. 7, s. 1; 2021, c. 8, Sched. 9, s. 39 (1-7). Same (2) For the purposes of this Act, the regulations and the rules, any of “future-oriented financial information” and “non-redeemable investment fund” may be defined in the regulations or the rules and if so defined shall have the defined meaning.  1999, c. 9, s. 22 (5). Section Amendments with date in force (d/m/y) 1999, c. 9, s. 21 - 14/12/1999; 1999, c. 9, s. 22 (1-5) - 14/12/1999 2014, c. 7, Sched. 5, s. 1 (1, 2) - 24/07/2014 2017, c. 8, Sched. 5, s. 1 - not in force; 2017, c. 34, Sched. 7, s. 1 - 14/12/2017 2018, c. 17, Sched. 7, s. 1 (1-3) - 06/12/2018 2021, c. 8, Sched. 9, s. 39 (1-7) - 29/04/2022