Translation of "Exercice d'une fonction de droit public " (French → English) :

holding of an office governed by public law

rights and immunities necessary to the independent exercise of their duties

public interest litigation [ PIL | public interest law practice | PIL lawsuit ]

(a) The individual is an employee of that State or of a political subdivision, local authority or instrumentality thereof rendering services in the discharge of functions of a governmental nature in the other Contracting State or in a third State; and

220 (1) No action or other proceeding for damages shall be instituted against the Commission or any member thereof, or any employee or agent of the Commission for any act done in good faith in the performance or intended performance of any duty or in the exercise or the intended exercise of any power under Canadian securities law, or for any neglect or default in the performance or exercise in good faith of such duty or power.

This change, to repeal an age limit on the president and directors, is consistent with changes made to other acts in 2011. These include changes to the Canadian Human Rights Act to prohibit federally regulated employers from setting a mandatory retirement age, and to the Auditor General Act repealing provisions stipulating that the Auditor General must cease to hold office upon reaching 65 years of age.

Delegated acts should also be adopted to specify the conditions subject to which the delegation of AIFM functions should be approved and the conditions subject to which the AIFM has delegated its functions to the extent that it becomes a letter-box entity and can no longer be considered to be the manager of the AIF; as regards depositaries, to specify the criteria for assessing that the prudential regulation and supervision of third countries where the depositaries are established have the same effect as Union law and are effectively enforced, the particulars that need to be included in the standard agreement, the conditions for perform ...[+++]ing the depositary functions, including the type of financial instruments that should be included in the scope of the depositary’s custody duties, the conditions subject to which the depositary may exercise its custody duties over financial instruments registered with a central depositary and the conditions subject to which the depositary should safekeep the financial instruments issued in a nominative form and registered with an issuer or a registrar, the due diligence duties of depositaries, the segregation obligation, the conditions subject to and circumstances in which financial instruments held in custody should be considered as lost, what is to be understood by external events beyond reasonable control, the consequences of which would have been unavoidable despite all reasonable efforts to the contrary, and the conditions subject to and circumstances in which there is an objective reason to contract a discharge of liability.