103(1)In this section, “custodian” means a custodian of securities issued by a mutual fund held for the benefit of plan holders under a custodial agreement or other arrangement.

103(2)Subject to subsection (6), voting securities of an issuer that are registered in the name of a registrant or in the name of the registrant’s nominee, or if the issuer is a mutual fund that is a reporting issuer, in the name of a custodian or in the name of the custodian’s nominee, and that are not beneficially owned by the registrant or the custodian, as the case may be, shall not be voted by the registrant or custodian or by the registrant’s nominee or custodian’s nominee at any meeting of security holders of the issuer.

103(3)On receipt of a copy of a notice of a meeting of security holders of an issuer, the registrant or custodian shall, where the name and address of the beneficial owner of securities registered in the name of the registrant or custodian are known, send to each beneficial owner of the securities so registered at the record date for notice of the meeting a copy of that notice and any other notice, financial statement, information circular or other material relating to the securities that is received by the registrant or custodian.

103(4)A registrant or custodian is not required to send the material under subsection (3) unless the issuer or the beneficial owner of the securities has agreed to pay the reasonable costs to be incurred by the registrant or custodian in so doing.

103(5)At the request of a registrant or custodian, the issuer of the securities shall without delay send to the registrant or custodian, at the expense of the issuer, the requisite number of copies of the material referred to in subsection (3).

103(6)A registrant or custodian shall vote or give a proxy requiring a nominee to vote any voting securities referred to in subsection (2) in accordance with any written voting instructions received from the beneficial owner.

103(7)A registrant or custodian shall, if requested in writing by a beneficial owner, give to the beneficial owner or the beneficial owner’s nominee a proxy enabling the beneficial owner or the nominee to vote any voting securities referred to in subsection (2).