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from owners to the reserve fund. 1998, c. 19, s. 115 (4).

Definition

(5)

In subsections (6) and (7),

“eligible security” means a bond, debenture, guaranteed investment certificate, deposit receipt,

deposit note, certificate of deposit, term deposit or other similar instrument that,

(a) is issued or guaranteed by the government of Canada or the government of any

province of Canada,

(b) is issued by an institution located in Ontario insured by the Canada Deposit Insurance

Corporation or the Deposit Insurance Corporation of Ontario, or

(c) is a security of a prescribed class. 1998, c. 19, s. 115 (5); 2009, c. 34, Sched. E, s. 1.

Investment

(6)

The board may invest all or any part of the money in the corporation’s general accounts

in eligible securities if,

(a) they are convertible to cash within 90 days following a request by the board; and

(b) they are,

(i) registered in the name of the corporation, or

(ii) held in a segregated account under the name of the corporation by a member of

the Investment Dealers Association of Canada and insured by the Canadian

Investor Protection Fund. 1998, c. 19, s. 115 (6).

Same, reserve fund accounts

(7)

Subject to subsection (8), the board may invest all or any part of the money in the

corporation’s reserve fund accounts in eligible securities if they are,

(a) registered in the name of the corporation; or

(b) held in a segregated account under the name of the corporation by a member of the

Canadian Investment Dealers Association and insured by the Canadian Investor

Protection Fund. 1998, c. 19, s. 115 (7).

Investment plan

(8)

Before investing any part of the money in the corporation’s reserve fund accounts, the

board shall develop an investment plan based on the anticipated cash requirements of the reserve

fund as set out in the most recent reserve fund study. 1998, c. 19, s. 115 (8).

Records

(9)

A person who receives money under subsection (1) shall keep records relating to the

receipt and disposition of all money under this section and shall, upon reasonable notice and at

all reasonable times, make the records available for examination by the corporation, an owner or

a mortgagee. 1998, c. 19, s. 115 (9).

Use of common elements by owners

116.

An owner may make reasonable use of the common elements subject to this Act, the

declaration, the by-laws and the rules. 1998, c. 19, s. 116.

Dangerous activities