Eligible investments
 2. The following are prescribed, for the purposes of subsection 418 (1) of the Act, as securities that a municipality may invest in: 1. Bonds, debentures, promissory notes or other evidence of indebtedness issued or guaranteed by, i. Canada or a province or territory of Canada, ii. an agency of Canada or a province or territory of Canada, iii. a country other than Canada, iv. a municipality in Canada including the municipality making the investment, iv.1 the Ontario Infrastructure and Lands Corporation, v. a school board or similar entity in Canada, v.1 a university in Ontario that is authorized to engage in an activity described in section 3 of the Post-secondary Education Choice and Excellence Act, 2000, v.2 a college established under the Ontario Colleges of Applied Arts and Technology Act, 2002, vi. a local board as defined in the Municipal Affairs Act (but not including a school board or a municipality) or a conservation authority established under the Conservation Authorities Act, vi.1 a board of a public hospital within the meaning of the Public Hospitals Act, vi.2 a non-profit housing corporation incorporated under section 13 of the Housing Development Act, vi.3 a local housing corporation as defined in section 24 of the Housing Services Act, 2011, or vii. the Municipal Finance Authority of British Columbia. 2. Bonds, debentures, promissory notes or other evidence of indebtedness of a corporation if, i. the bond, debenture or other evidence of indebtedness is secured by the assignment, to a trustee, as defined in the Trustee Act, of payments that Canada or a province or territory of Canada has agreed to make or is required to make under a federal, provincial or territorial statute, and ii. the payments referred to in subparagraph i are sufficient to meet the amounts payable under the bond, debenture or other evidence of indebtedness, including the amounts payable at maturity. 3. Deposit receipts, deposit notes, certificates of deposit or investment, acceptances or similar instruments the terms of which provide that the principal and interest shall be fully repaid no later than two years after the day the investment was made, if the receipt, note, certificate or instrument was issued, guaranteed or endorsed by, i. a bank listed in Schedule I, II or III to the Bank Act (Canada), ii. a loan corporation or trust corporation registered under the Loan and Trust Corporations Act, or iii. a credit union or central to which the Credit Unions and Caisses Populaires Act, 2020 applies. 3.1 Deposit receipts, deposit notes, certificates of deposit or investment, acceptances or similar instruments the terms of which provide that the principal and interest shall be fully repaid more than two years after the day the investment was made, if the receipt, note, certificate or instrument was issued, guaranteed or endorsed by, i. a bank listed in Schedule I, II or III to the Bank Act (Canada), or ii. a loan corporation or trust corporation registered under the Loan and Trust Corporations Act. iii.  Revoked: O. Reg. 43/18, s. 3 (1). 4. Bonds, debentures, promissory notes or other evidence of indebtedness, the terms of which provide that the principal and interest shall be fully repaid no later than two years after the day the investment was made if issued or guaranteed by an institution listed in paragraph 3.1. 4.1 Bonds, debentures, promissory notes or other evidence of indebtedness, the terms of which provide that the principal and interest shall be fully repaid more than two years after the day the investment was made if issued or guaranteed by an institution listed in paragraph 3.1. 4.2 Deposit receipts, deposit notes, certificates of deposit or investment, acceptances or similar instruments, the terms of which provide that the principal and interest shall be fully repaid more than two years after the day the investment was made if the receipt, note, certificate or instrument was issued, guaranteed or endorsed by a credit union or central to which the Credit Unions and Caisses Populaires Act, 2020 applies. 4.3 Bonds, debentures, promissory notes or other evidence of indebtedness issued or guaranteed by a credit union or central to which the Credit Unions and Caisses Populaires Act, 2020 applies. 5. Short term securities, the terms of which provide that the principal and interest shall be fully repaid no later than three days after the day the investment was made, that are issued by, i. a university in Ontario that is authorized to engage in an activity described in section 3 of the Post-secondary Education Choice and Excellence Act, 2000, ii. a college established under the Ontario Colleges of Applied Arts and Technology Act, 2002, or iii. a board of a public hospital within the meaning of the Public Hospitals Act. 6. Bonds, debentures, promissory notes, other evidence of indebtedness or other securities issued or guaranteed by the International Bank for Reconstruction and Development. 6.1. Bonds, debentures, promissory notes or other evidence of indebtedness issued or guaranteed by a supranational financial institution or a supranational governmental organization, other than the International Bank for Reconstruction and Development. 7. Securities that are arrangements for the sale of assets that entitle the purchaser to an undivided beneficial interest in a pool of assets. 7.1 Bonds, debentures, promissory notes or other evidence of indebtedness issued by a corporation that is incorporated under the laws of Canada or a province of Canada, the terms of which provide that the principal and interest shall be fully repaid more than five years after the date on which the municipality makes the investment. 7.2 Bonds, debentures, promissory notes or other evidence of indebtedness issued by a corporation that is incorporated under the laws of Canada or a province of Canada, the terms of which provide that the principal and interest shall be fully repaid more than one year and no later than five years after the date on which the municipality makes the investment. 8. Negotiable promissory notes or commercial paper, other than securities referred to in paragraph 7, maturing one year or less from the date of issue, if that note or commercial paper has been issued by a corporation that is incorporated under the laws of Canada or a province of Canada. 8.1 Shares issued by a corporation that is incorporated under the laws of Canada or a province of Canada. 9. Bonds, debentures, promissory notes and other evidences of indebtedness of a corporation incorporated under section 142 of the Electricity Act, 1998. 10. Any security if the municipality acquires the security as a gift in a will or as a donation not made for a charitable purpose. 11.  Revoked: O. Reg. 43/18, s. 3 (5). 12. Shares of a corporation if, i. the corporation has a debt payable to the municipality, ii. under a court order, the corporation has received protection from its creditors, iii. the acquisition of the shares in lieu of the debt is authorized by the court order, and iv. the treasurer of the municipality is of the opinion that the debt will be uncollectable by the municipality unless the debt is converted to shares under the court order.  O. Reg. 438/97, s. 2; O. Reg. 265/02, s. 1; O. Reg. 399/02, s. 2; O. Reg. 655/05, s. 2; O. Reg. 607/06, s. 1; O. Reg. 39/07, s. 1; O. Reg. 373/11, s. 1; O. Reg. 74/16, s. 1, 2; O. Reg. 43/18, s. 3; O. Reg. 106/22, s. 1.