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Securities Law

53-502 - Relief from concurrent delivery of financial statements and quarterly reports [BCI - Rescinded]

Published Date: 2004-04-22
Effective Date: 2004-04-21
Rescinded Date: 2005-06-01
The British Columbia Securities Commission, having considered that to do so would not be prejudicial to the public interest, orders that the attached BC Instrument 53-502 entitled “Relief from concurrent delivery of financial statements and quarterly reports” is made.


April 21, 2004




Douglas M. Hyndman
Chair



________________________________________________________________
(This part is for administrative purposes only and is not part of the Order)

Authority under which Order is made:
Act and sections: section 91(2)
Other (specify):





BC Instrument 53-502

Relief from concurrent delivery of financial statements and quarterly reports

Order under section 91(2) of theSecurities Act

Interpretation
1.Terms defined in the SecuritiesAct, the Securities Rules or National Instrument 14-101 Definitions have the same meaning in this Instrument.

Relief from concurrent delivery requirement
2. A reporting issuer is exempt from the concurrent delivery requirement in section 149 of the Securities Rules for financial statements and quarterly reports (collectively, financial information), provided that:

(a) the reporting issuer has complied with the filing requirements of sections 144, 145 and 152 of the Rules, as applicable;

(b) concurrently with filing its financial information, the reporting issuer issues a press release that:
(i) will be disseminated via a Canadian newswire service and filed on SEDAR;

(ii) states that security holders can access the financial information on the www.sedar.com website;

(iii) gives the approximate date on which the financial information will be mailed to security holders who are entitled to receive it; and

(iv) states that any security holder entitled to receive the financial information can get a copy of it in advance on request to the reporting issuer; and
(c) the reporting issuer:

(i) sends the financial information to all security holders entitled to receive it not later than the last date on which it could have been filed in compliance with the Rules; and

(ii) concurrently files written confirmation of compliance with subparagraph (c)(i).
Sunset
3. This order applies to financial information for fiscal years that began on or before December 31, 2003.