A Community Economic and Development Investment Fund (CEDIF) is a pool of capital which is raised from individuals within Nova Scotia to invest in for-profit entities within a defined community. These funds are controlled by a local group of officers and directors, who may be chosen by the founders and promoters of the CEDIF or by the CEDIF’s investors at an annual general meeting.
To start a CEDIF offering, applicants must:
- complete and file the Form 1 Simplified Offering Document with the NSSC and Department of Finance and Treasury Board,
- receive a letter of non-objection from the Director of the NSSC, and
- an Equity Tax Credit (ETC) from the Minister of Finance.
Frequently Asked Questions and Other Information
What Happens if I invest in a CEDIF through a RRSP?
Important Nova Scotia Securities Commission Financial Statement Filings and Cease Trade Orders
Department of Finance - Equity Tax Credit
To assist CEDIF participants in understanding and applying community economic-development corporations regulations (CEDC Regulations), the Nova Scotia Securities Commission staff has compiled this summary of questions and NSSC staff responses.
- The Offering Document FAQs (updated August 11, 2016)
- Continuous Disclosure FAQs (updated August 11, 2016)
- General FAQs
- ComFit FAQs
- Understanding the CEDIF application process presentation
- Investment Fund Manager requirements
Nova Scotia securities law apply to CEDIFs. Some latitude is given to the programme in the following:
- Blanket Order 13-501 (Dated: Oct. 31/03 Re: Schedule A to Form 2A and to Form 2 to be held in confidence)
- NSSC Policy 45-601 (Dated: Jan. 17/14 Re: Investment Funds)
- Blanket Order 45-521 (Dated: Jan. 17/14 Re: Investment Funds)
- Blanket Order 45-523 (Dated: April 22/14 Re: Promotional Material)
- NSSC Notice 45-706 (Dated: Oct. 31/03 Re: Prescribed Form 2A)
- Blanket Order 51-504 (Dated: April 13/11 Re: Financial Statements)
Forms and Other Documentation
The following forms are being provided for your convenience
- Form 1 - Offering Document (Version: Feb. 6, 2017)
- Amendment to Offering Document
- Expression of Interest(sample)
- Equity Tax Credit Application Form
- Form 2A - Report of Trade (for initial close and subsequent closings)
- Form 2A - Report of Trade (for initial close and subsequent closings)
- Subscription Agreement (sample - Word)
- Subscription Agreement (sample - PDF)
- Advertising/Promotional Disclaimer
- Form 2 - Report of Trade (Updated March 23, 2015)
- Material Change Report