Section 27

where the mutual fund is a corporation, a director of that corporation;

where the mutual fund is a limited partnership, a general partner in that limited partnership;

where the mutual fund is a limited liability partnership, the designated partner in that limited liability partnership;

or

where the mutual fund is a unit trust, a trustee of that trust;

Act 704

“promoter” means a person acting alone or in conjunction with others directly or indirectly who takes the initiative in forming or organizing the business of a mutual fund, but does not include a custodian or an underwriter who receives underwriting commission without taking part in the founding or organizing of the mutual fund business;

“registered public fund” means a public fund registered under section 33;

“shares” means one or more of the shares in the share capital of a mutual fund company including, in the case of a company limited by guarantee, the interest of a member of such company and includes an interest in a mutual fund partnership and a unit in a mutual fund unit trust.