www.carters.ca
www.charitylaw.ca
•ONCA permits corporation to invest its funds as its directors think fit, subject to its articles or by-laws or any limitations accompanying a gift
–Section 10.1 of the Charities Accounting
Act overrides the ONCA - states that
s.27 to s.31 of the Trustees Act applies
–Prudent
investor rule applies to the directors of charities
–Directors
must consider certain criteria to invest
–Authorizes delegation to an agent in certain circumstances
but must have investment policy and agency agreement in
place
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