15 January 1991 External T.I. 9035345 F - Prescribed Investments for a Registered Investment

By services, 18 January, 2022
Official title
Prescribed Investments for a Registered Investment
Language
French
CRA tags
4900(1)(e)
Document number
Citation name
9035345
Severed letter type
Technical Interpretation - External
d7 import status
Drupal 7 entity type
Node
Drupal 7 entity ID
633194
Extra import data
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"field_release_date_new": "1991-01-15 07:00:00",
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Main text

5-903534

Dear Sirs:

Re:  Prescribed Investments for a Registered Investment

This is in response to your letter of December 6, 1990 concerning the definition of a futures contract.

In the letter of November 17, 1989 from your firm, 19(1) stated that a futures contract would be a qualified investment for a registered investment pursuant to Regulation 4900(1)(e) because a right includes a futures contract.  Our response of May 1, 1990 stated that, for a right to be a qualified investment the property acquired by exercising the right must be a qualified investment.  It is our position that a futures contract is a right to acquire property in the future.

We trust that these comments are satisfactory.

Yours truly,

for DirectorFinancial Industries DivisionRulings Directorate