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AR 19/2003 UNIVERSITY OF CALGARY AND UNIVERSITY TECHNOLOGIES INTERNATIONAL EXEMPTION REGULATION

(no amdt)

ALBERTA REGULATION 19/2003

Financial Administration Act

UNIVERSITY OF CALGARY AND
UNIVERSITY TECHNOLOGIES INTERNATIONAL
EXEMPTION REGULATION


Definitions

1   In this Regulation,

                                 (a)    “Act” means the Financial Administration Act;

                                 (b)    “Neurospheres corporations” means

                                           (i)    Neurospheres Ltd., and

                                          (ii)    Neurospheres Holdings Ltd.;

                                 (c)    “previous Act” means the Financial Administration Act (cF‑9 RSA 1980);

                                 (d)    “U of C” means the board of The Governors of the University of Calgary;

                                 (e)    “UTI” means University Technologies International Inc.

Exemptions re the Neurospheres corporations

2   In the case of the Neurospheres corporations,

                                 (a)    the U of C is, with respect to

                                           (i)    the entering into any agreements and the acquisition of any property in relation to the Neurospheres corporations, and

                                          (ii)    the acquisition of the Neurospheres corporations,

                                          exempted from the operation of section 80(2) and (4) of the Act and section 80.1(2) and (4) of the previous Act, and

                                 (b)    UTI is, with respect to the acquisition of the Neurospheres corporations, exempted from the operation of section 80(4) of the Act and section 80.1(4) of the previous Act.

Exemption re incorporation

3   In the case of University Technologies International Venture Management Inc., UTI is exempted from the operation of section 80(1) of the Act and section 80.1(1) of the previous Act with respect to the incorporation of University Technologies International Venture Management Inc.

Limitations on exemptions

4   The exemptions provided for under this Regulation do not apply

                                 (a)    to the incorporation of any corporation to which section 80(1) of the Act applies where the act of incorporating takes place after December 31, 2002,

                                 (b)    to any agreement or acquisition of property to which section 80(2) of the Act applies where the entering into the agreement or the acquisition of property takes place after December 31, 2002, or

                                 (c)    to any acquisition of a corporation to which section 80(4) of the Act applies where the acquisition of the corporation takes place after December 31, 2002.

Coming into force

5   This Regulation is deemed to have been in force at all times on and after January 1, 1998.