Prudent Investor Legislative Provisions Update – Fourth

Earlier today the Ministry of Municipal Affairs advised that the regulation to be made under section 418.1 of the Municipal Act, 2001 will not come into effect on January 1, 2018. We understand that the Ministry plans to take additional time to consider the feedback that it received in respect of the summary of the proposed municipal prudent investor rules that the Ministry posted in the early part of October.

Prudent Investor Legislative Provisions Update

We have been advised by a communications official at the Ministry of Municipal Affairs that the prudent investor provisions under the Municipal Act, 2001 (the “Act”) are expected to be proclaimed in force next week (no reference however to the relevant regulations).