If the associate reference occurs in Chapter 7 and relates to a matter that is not of a kind referred to in paragraph 12(1)(a), (b) or (c), it includes a reference to:

(a)

a person in partnership with whom the primary person carries on a securities business; and

(b)

subject to subsection 16(2), a person who is a partner of the primary person otherwise than because of carrying on a securities business in partnership with the primary person; and

(c)

a trustee of a trust in relation to which the primary person benefits, or is capable of benefiting, otherwise than because of transactions entered into in the ordinary course of business in connection with the lending of money; and

(d)

a director of a body corporate of which the primary person is also a director and that carries on a securities business; and

(e)

subject to subsection 16(2), a director of a body corporate of which the primary person is also a director and that does not carry on a securities business.