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2004 Ontario Budget: Limited Liability Legislation for Income Funds

May-18-2004

Area Corporate Finance and Securities, Tax, REITs and Income Securities

Summary


The 2004 Ontario budget, announced today, confirms that the Ontario government will propose technical legislation to clarify that investors in a publicly traded trust will not be liable for the activities of the trust.  This is consistent with the announcement included as part of the 2003 Ontario Economic Outlook and Fiscal Review released on December 17, 2003 by Finance Minister Greg Sorbara.

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