Securities

Montréal – At the request of the Autorité des marchés financiers (AMF), the Bureau de décision et de révision en valeurs mobilières (BDRVM) recommended, on August 9, 2005, that the Minister of Finance order the winding-up of the property of TIP Funds Canada Ltd. and appoint a liquidator.

On September 17, 2004, following proceedings launched by the AMF, Claude Gilbert was appointed provisional administrator by the Minister to administer the property of TIP Funds Canada. In his report dated April 8, 2005, Mr. Gilbert recommended the winding-up of the property of TIP Funds Canada and the appointment of a liquidator.

The AMF is the regulatory and oversight body for Québec’s financial sector.

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