Canada Gazette, Part I, Volume 149, Number 4: GOVERNMENT NOTICES
January 24, 2015
DEPARTMENT OF CITIZENSHIP AND IMMIGRATION
IMMIGRATION AND REFUGEE PROTECTION ACT
Ministerial Instructions Respecting the Immigrant Investor Venture Capital Class
The Minister of Citizenship and Immigration, pursuant to section 14.1 (see footnote a) of the Immigration and Refugee Protection Act (see footnote b), gives the annexed Ministerial Instructions Respecting the Immigrant Investor Venture Capital Class.
Ottawa, January 14, 2015
Minister of Citizenship and Immigration
MINISTERIAL INSTRUCTIONS RESPECTING THE IMMIGRANT INVESTOR VENTURE CAPITAL CLASS
1. (1) The following definitions apply in these Instructions.
« demandeur »
“applicant” means a foreign national who makes an application for a permanent resident visa as a member of the Immigrant Investor Venture Capital class.
« Banque »
“Bank” has the same meaning as in section 2 of the Business Development Bank of Canada Act.
“business or investment activity”
« activité d’affaires ou d’investissement »
“business or investment activity” means a private sector for profit activity, but does not include any activity related to a state-owned enterprise.
« Fonds »
“Fund” means the capital derived from payments made under paragraph 2(2)(e), and any income — including interest and capital gains — generated by the investment of the payments, for the purposes of investment as venture capital.
« avoir net »
“net worth” means the fair market value of all of the assets of an applicant and their spouse or common-law partner, excluding the fair market value of their primary residence, minus the fair market value of all of their associated liabilities.
« Règlement »
“Regulations” means the Immigration and Refugee Protection Regulations.
Words and expressions
(2) Unless a contrary intention appears, words and expressions used in these Instructions have the same meaning as in sections 1 and 2 and subsection 73(1) of the Regulations.
Establishment of class
2. (1) The Immigrant Investor Venture Capital class is established as part of the economic class referred to in subsection 12(2) of the Act and consists of foreign nationals who have the ability to become economically established in Canada and who meet the requirements of this section.
Member of class
(2) A foreign national is a member of the Immigrant Investor Venture Capital class if they
- (a) have a net worth of at least $10,000,000 that they have lawfully acquired through business or investment activity;
- (b) have attained a level of proficiency of at least benchmark level 5 in either official language for each of the four language skill areas, as set out in the Canadian Language Benchmarks and the Niveaux de compétence linguistique canadiens, as demonstrated by the results of an evaluation designated by the Minister — which must be less than two years old on the date on which their application for a permanent resident visa as a member of the Immigrant Investor Venture Capital class is made — conducted by an organization or institution designated by the Minister under subsection 74(3) of the Regulations for the purpose of evaluating language proficiency;
- (c) have a net worth, lawfully acquired through business or investment activity, of at least $50,000,000, or have one of the following:
- (i) a Canadian educational credential earned by the completion of a program of at least one year’s duration of post-secondary studies, or
- (ii) a foreign diploma, certificate or credential along with an equivalency assessment — which must be less than five years old on the date on which their application for a permanent resident visa as a member of the Immigrant Investor Venture Capital class is made — that indicates that the foreign diploma, certificate or credential is equivalent to a credential referred to in subparagraph (i);
- (d) have entered into an agreement with the Minister that includes
- (i) an undertaking by them to pay the Minister a sum of $2,000,000, the repayment of which is not guaranteed,
- (ii) an indication of the form and manner in which the sum is to be paid, and
- (iii) an undertaking by the Minister
- (A) to transfer the sum to the Bank so that it may be invested as venture capital exclusively for the purposes of benefiting Canada, and
- (B) to pay to the foreign national a part of the remainder of the Fund, if any, the capital of which is derived in part from the payment made by the foreign national under paragraph (e);
- (e) have made the payment referred to in subparagraph (d)(i); and
- (f) intend to reside in a province other than Quebec.
3. An applicant must provide the following documentation to establish that they are a member of the Immigrant Investor Venture Capital class and that the applicable fees set out in section 8 have been paid:
- (a) a due diligence report obtained from a service provider set out in the schedule that demonstrates that the applicant meets the net worth requirement set out in paragraph 2(2)(a);
- (b) an original document, issued by an organization or institution referred to in paragraph 2(2)(b), setting out the results of an evaluation of the applicant’s language proficiency conducted by that organization or institution;
- (c) one of the following:
- (i) a copy of their Canadian educational credential or their foreign diploma, certificate or credential along with the original of their equivalency assessment, or
- (ii) a due diligence report obtained from a service provider set out in the schedule that demonstrates that the applicant meets the net worth requirement set out in paragraph 2(2)(c);
- (d) a copy of the agreement referred to in paragraph 2(2)(d); and
- (e) evidence of payment of the applicable fees set out in section 8.
Production of other documents
4. For the purposes of evaluating an application for a permanent resident visa as a member of the Immigrant Investor Venture Capital class, an officer may require the production of any documentation relating to the applicant, in addition to the documentation listed in section 3.
Application for visa
5. An officer must issue a permanent resident visa to the applicant and their accompanying family members if the applicant and their family members, whether accompanying or not, are not inadmissible and meet the requirements of the Act and the provisions of the Regulations that are applicable to the Immigrant Investor Venture Capital class, if the applicant meets the requirements of these Instructions and if the applicable fees set out in section 8 have been paid.
6. If the applicant does not make the payment set out in paragraph 2(2)(e) within 75 days after the date of a written request by the Minister to do so, an application for a permanent resident visa as a member of the Immigrant Investor Venture Capital class must be refused and no further evaluation is required.
Arrangement with Bank
7. (1) Any arrangement entered into by the Minister with the Bank for any matter relating to a Fund must include provisions relating to the following matters:
- (a) the transfer of payments made under paragraph 2(2)(e) by the Minister to the Bank;
- (b) the investment of the Fund, as venture capital, exclusively for the purposes of benefiting Canada, by the Bank or any manager of a fund established under the Venture Capital Action Plan of the Government of Canada;
- (c) the remittance, by the Bank to the Minister, of the remainder of the Fund, if any; and
- (d) the payment to the Bank or to the manager of a fund referred to in paragraph (b) of any fees and expenses relating to the management of the Fund, to be deducted from the Fund.
Status of Bank
(2) For greater certainty, the Bank is not acting on behalf of the Minister in respect of any matter related to these Instructions.
8. The following fees are payable for the processing of an application for a permanent resident visa as a member of the Immigrant Investor Venture Capital class:
- (a) in respect of a principal applicant, $1,050;
- (b) in respect of the spouse or common-law partner of the principal applicant, $550; and
- (c) in respect of each family member of the principal applicant who is a dependent child, $150.
9. Subsection 11(1) of the Regulations does not apply to the Immigrant Investor Venture Capital class in respect of an application for a permanent resident visa as a member of that class.
10. These Instructions have effect during the period beginning on January 28, 2015 and ending on January 27, 2020.
SERVICE PROVIDERS DESIGNATED BY THE MINISTER
- Deloitte Forensic Inc.
- BDO USA, LLP
- Raymond Chabot Grant Thornton Consulting Inc.
- KPMG LLP
- PricewaterhouseCoopers LLP
DEPARTMENT OF CITIZENSHIP AND IMMIGRATION
IMMIGRATION AND REFUGEE PROTECTION ACT
New Ministerial Instructions
Notice is hereby given, under subsection 87.3(6) of the Immigration and Refugee Protection Act, that the Minister of Citizenship and Immigration has established the following Ministerial Instructions that, in the opinion of the Minister, will best support the attainment of the immigration goals established by the Government of Canada.
Authority for these Ministerial Instructions is derived from section 87.3 of the Immigration and Refugee Protection Act (IRPA). The Instructions are directed to officers and the Minister’s delegates who are charged with handling and/or reviewing applications for permanent residence under the Immigrant Investor Venture Capital Class.
The Instructions come into force on January 28, 2015, and apply to applications received by designated Citizenship and Immigration Canada offices on or after January 28, 2015.
Any categories for which Instructions are not specifically issued shall continue to be processed in the usual manner, as per processing priorities established by the Department.
These Instructions are intended to support a broader strategy for business immigration reform by stimulating innovation and growth in the Canadian economy through the provision of at-risk capital from investors that can be actively invested in Canadian start-ups with high growth potential. They are also intended to attract immigrant investors who will be well prepared to integrate into the Canadian business landscape and society.
These Instructions are consistent with IRPA objectives as laid out in section 3, specifically to pursue the maximum social, cultural and economic benefits of immigration; to enrich and strengthen the social and cultural fabric of Canadian society; to support the development of a strong and prosperous Canadian economy; to protect public health and safety; and to maintain the security of Canadian society.
The Instructions are compliant with the Canadian Charter of Rights and Freedoms.
The Instructions respect all previously established accords and agreements, including the Canada-Quebec Accord, and all existing agreements with provinces and territories.
Intake of permanent resident applications under the Immigrant Investor Venture Capital Class
CIC will accept permanent resident applications received under the Immigrant Investor Venture Capital Class from January 28, 2015, to February 11, 2015, or until a maximum of 500 applications are received, whichever comes first.
Applications received within the specified time period, or to the cap of 500 applications, will be randomly drawn for an initial completeness check.
To be considered complete for the purposes of the initial completeness check, randomly drawn applications must meet the application kit requirements in place at the time of application receipt, including providing original designated language test results demonstrating that the applicant meets the language threshold for the Immigrant Investor Venture Capital Class as set by the Minister in each of the four language abilities (speaking, oral comprehension, reading, writing) and required evidence of education.
Applications will be randomly drawn and checked for initial completeness against application kit requirements until 60 complete applications have been identified. These applicants will be required to submit additional supporting documentation, including a due diligence report from a designated service provider, within the deadline specified by the designated CIC office to meet the second stage completeness check and be considered eligible for processing.
Applications considered eligible for processing will be processed until up to 60 principal applicants are approved with permanent resident visas issued under this class. Sixty is the maximum number of investments that would be accepted to capitalize the Immigrant Investor Venture Capital Fund.
In all cases, applicants meeting the criteria set out in Ministerial Instructions are still subject to the Immigrant Investor Venture Capital Class requirements and all other applicable requirements of the IRPA.
The Instructions will remain in place unless otherwise indicated in a future Ministerial Instruction.
No humanitarian and compassionate requests to overcome requirements of Ministerial Instructions
Requests made on the basis of humanitarian and compassionate grounds from outside Canada that accompany any permanent resident application affected by Ministerial Instructions but not identified for processing under the Instructions will not be processed.
Retention and disposition
Applications for permanent residence under the Immigrant Investor Venture Capital Class received in excess of the cap of 500 applications or after February 11, 2015 (whichever comes first), will be returned along with processing fees.
Applications received between January 28, 2015, and February 11, 2015, or a maximum 500 applications (whichever comes first) that are not drawn at random for completeness checks will be returned along with processing fees. CIC will retain a small number of randomly drawn applications over and above the initial 60 complete applications identified as indicated above. These additional applications may be put into processing should they be required to arrive at up to 60 permanent resident visas/approvals under this class. Once up to 60 permanent resident visas/approvals are issued under this class, all remaining applications will be returned.
DEPARTMENT OF THE ENVIRONMENT
CANADIAN ENVIRONMENTAL PROTECTION ACT, 1999
Order 2014-87-11-02 Amending the Non-domestic Substances List
Whereas, pursuant to subsection 87(5) of the Canadian Environmental Protection Act, 1999 (see footnote c), the Minister of the Environment has added the substances referred to in the annexed Order to the Domestic Substances List (see footnote d);
Therefore, the Minister of the Environment, pursuant to subsection 87(5) of the Canadian Environmental Protection Act, 1999 (see footnote e), makes the annexed Order 2014-87-11-02 Amending the Non-domestic Substances List.
Gatineau, January 5, 2015
Minister of the Environment
ORDER 2014-87-11-02 AMENDING THE NON-DOMESTIC SUBSTANCES LIST
1. Part I of the Non-domestic Substances List (see footnote 1) is amended by deleting the following:
COMING INTO FORCE
2. This Order comes into force on the day on which Order 2014-87-11-01 Amending the Domestic Substances List comes into force.
DEPARTMENT OF INDUSTRY
Notice No. SLPB-001-15 — Extension to the comment period: Consultation on Repurposing the 600 MHz Band
Notice No. SLPB-005-14 was published in the Canada Gazette, Part I, on January 3, 2015, and announced the release of the above-mentioned consultation. The deadline for the receipt of comments was indicated as January 26, 2015, and the deadline for the receipt of reply comments was February 12, 2015.
The purpose of the present notice is to advise all interested parties that, based on the merits of several requests for additional time, the deadline for the receipt of comments has been extended to February 26, 2015. The deadline for reply comments will be two weeks (14 calendar days) following the publication date of the comments received.
All comments received will be posted on Industry Canada’s Spectrum Management and Telecommunications Web site at www.ic.gc.ca/spectrum.
Copies of this notice and of documents referred to herein are available electronically on Industry Canada’s Spectrum Management and Telecommunications Web site at www.ic.gc.ca/spectrum.
Official versions of Canada Gazette notices can be viewed at www.gazette.gc.ca/rp-pr/p1/index-eng.html.
January 15, 2015
Acting Director General
Spectrum Licensing Policy Branch
OFFICE OF THE SUPERINTENDENT OF FINANCIAL INSTITUTIONS
INSURANCE COMPANIES ACT
Technology Insurance Company, Inc. — Order to insure in Canada risks
Notice is hereby given of the issuance, pursuant to subsection 574(1) of the Insurance Companies Act, of an order to insure in Canada risks, effective December 22, 2014, authorizing Technology Insurance Company, Inc., under the name, in English, Technology Insurance Company, Inc., and, in French, Société d’assurance Technologie, to insure in Canada risks falling within the classes of automobile insurance, boiler and machinery insurance, credit protection insurance, fidelity insurance, legal expenses insurance, liability insurance, marine insurance, and property insurance.
January 14, 2015
Superintendent of Financial Institutions
BANK OF CANADA
Statement of financial position as at December 31, 2014
|Cash and foreign deposits||8.4|
|Loans and receivables|
|Securities purchased under resale agreements||2,764.8|
|Advances to members of the Canadian Payments Association||—|
|Advances to governments||—|
|Treasury bills of Canada||19,386.5|
|Government of Canada bonds||71,084.7|
|Property and equipment||283.9|
|LIABILITIES AND EQUITY||Amount||Total|
|Bank notes in circulation||70,023.5|
|Government of Canada||21,526.6|
|Members of the Canadian Payments Association||150.1|
|Liabilities in foreign currencies|
|Government of Canada||—|
|Securities sold under repurchase agreements||—|
|Statutory and special reserves||125.0|
|Actuarial gains reserve||—|
|Total Liabilities and Equity||94,112.1|
I declare that the foregoing return is correct according to the books of the Bank.
Ottawa, January 15, 2015
Chief Financial Officer and Chief Accountant
I declare that the foregoing return is to the best of my knowledge and belief correct, and shows truly and clearly the financial position of the Bank, as required by section 29 of the Bank of Canada Act.
Ottawa, January 15, 2015
Stephen S. Poloz