"Accredited Investor" includes:
- An individual who, either alone or with a spouse, beneficially owns financial assets having an
aggregate realizable value that before taxes, but net of any related liabilities, exceeds $1,000,000.
- An individual whose net income before taxes exceeded $200 000 in each of the 2 most recent calendar years or whose net income before taxes combined with that of a spouse exceeded $300,000 in each of the 2 most recent calendar years and who, in either case, reasonably expects to exceed that net income level in the current calendar year,
- An individual who, either alone or with a spouse, has net assets of at least $5,000,000.
- A person, other than an individual or investment fund, that has net assets of at least $5,000,000 as shown on its most recently prepared financial statements.
- A person in respect of which all of the owners of interests, direct, indirect or beneficial, except the voting securities required by law to be owned by directors, are persons that are described in paragraphs (a) to (d).
The following terms referred to above have the following meanings:
"financial assets" means:
- securities, or
- a contract of insurance, a deposit or an evidence of a deposit that is not a security for the purposes of securities legislation;
- an individual,
- a corporation,
- a partnership, trust, fund and an association, syndicate, organization or other organized group of persons, whether incorporated or not, and
- an individual or other person in that person’s capacity as a trustee, executor, administrator or personal or other legal representative; and
"related liabilities" means:
- liabilities incurred or assumed for the purposes of financing the acquisition or ownership of financial assets, or
- liabilities that are secured by financial assets.