Four-jurisdiction framework
Correct four-jurisdiction-framework.md Canada transfer-consent language to the real mandatory-admission-subject-to-narrow-grounds mechanism
@@ -9,7 +9,7 @@ quality: complete short_description: "Deployment framework for the Direct-Hold Solutions across Canada, the United States, Spain, and Mexico, each using the flow-through vehicle mandated by local securities law." status: stable bcsc_class: current-fact last_edited: 2026-07-15 last_edited: 2026-07-30 editor: pointsav-engineering language_protocol: PROSE-TOPIC source_refs: @@ -40,7 +40,7 @@ Canada's established vehicle delivers 100% flow-through taxation under its sover The Professional Centres Canada LP is a closed-end limited partnership domiciled in British Columbia. It is the existing vehicle in the framework — the operating model that demonstrates the structure which the three planned Direct-Hold Solutions are intended to replicate in their respective jurisdictions. As a Regulated Reporting Entity under Canadian securities laws, the Professional Centres Canada LP files continuous public disclosure on [[about-filing-systems|SEDAR+]], including annual information forms, audited financial statements, and [[about-material-change-reporting|material change reports]]. Investment Units are freely transferable in Canada after the expiry of the initial four-month statutory hold period, without consent from WCP, the Canadian General Partner, or other unitholders. As a Regulated Reporting Entity under Canadian securities laws, the Professional Centres Canada LP files continuous public disclosure on [[about-filing-systems|SEDAR+]], including annual information forms, audited financial statements, and [[about-material-change-reporting|material change reports]]. Investment Units are freely transferable in Canada after the expiry of the initial four-month statutory hold period. The General Partner is contractually obligated to admit any eligible transferee — declining only on two narrow grounds (a securities-law opinion, or false eligibility representations) — and records each transfer; a holder whose status would create adverse Canadian tax consequences for the partnership can be required to divest, and an acquisition crossing 20% of outstanding units triggers a separate mandatory-offer requirement. WCP and other unitholders have no approval role in an ordinary transfer. The Canadian General Partner is Woodfine Professional Centres Inc., a subsidiary of WCP. The LP is not listed for trading on the Toronto Stock Exchange or any other Canadian exchange. Units trade over the counter in brokerage-facilitated private transactions.