Section 10 (1), (3) and (4) BEFORE amended by BC Reg 218/2011, effective December 5, 2011.

(1)  On the last opening date of the calendar year, the aggregate of the income and net taxable capital gains of each portfolio for that year as determined under the Income Tax Act (Canada) less any income and net taxable capital gains already paid to the participating funds for that year are payable to each participating fund in proportion to its participation in the portfolio.

(3)  If a participating fund has not acted under subsection (2), it is deemed to have elected to contribute to the portfolio the amount to which it is entitled under subsection (1).

(4)  If subsection (3) applies to a participating fund, the amount to which the participating fund is entitled under subsection (1) must be added to the participating fund's carrying costs of units and no increase in the number of units of participation are attributable to the participating fund.

 Section 10 (4.1) was added by BC Reg 218/2011, effective December 5, 2011.