Canada Pension Plan Investment Board Regulations

19 (1) The moneys of the Board are to be invested

• (a) in a name that clearly indicates that the investment is held in trust for the Board and, where the investment is capable of being registered, registered in that name;

• (b) in the name of a financial institution, or a nominee of one, in accordance with a custodial agreement or trust agreement, entered into with the financial institution, that clearly indicates that the investment is held for the Board; or

• (c) in the name of CDS Clearing and Depository Services Inc., or its nominee, in accordance with a custodial or trust agreement that is entered into with a financial institution and clearly indicates that the investment is held for the Board.

(2) For the purposes of subsection (1), custodial agreement means an agreement providing that

• (a) an investment made or held on behalf of the Board pursuant to the agreement

  • (i) constitutes part of the Board’s assets, and

  • (ii) shall not at any time constitute an asset of the custodian or nominee; and

• (b) records shall be maintained by the custodian that are sufficient to allow the ownership of any investment to be traced to the Board at any time.