The provisions of the Municipal Act, 2001 regarding the new prudent investment powers have been proclaimed in force as at March 1, 2018. However, the new prudent investor regime will not be effective until relevant regulations are filed AND come into force. We expect that the regulations will be filed on or after March 1, 2018 but they may come into force on a later date – the City of Toronto prudent investor regulation came into force more than a year after it was filed. We will keep you posted.
The information and comments herein are for the general information of the reader and are not intended as advice or opinion to be relied upon in relation to any particular circumstances. For particular application of the law to specific situations, the reader should seek professional advice.