The Ontario government announced that it intends to eliminate a rule that restricts Ontario pension funds from owning more than 30% of the voting shares in a corporation.
Currently, real estate, resource, and investment corporations are exempted from the “30% rule,” and the Ontario government had been looking at providing further exemptions for investments in public infrastructure.
On a related note, the 2015 Canadian federal budget announced a public consultation on whether the federal government too would amend the rule restricting federal pension funds from holding more than 30% of the voting shares of a company. Finance has not yet launched this consultation.
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