NIN 93/05 - Section 115(3)(f) of the Securities Regulation - Time Limit for Raising A Minimum Subscription [NIN - Rescinded]
| Published Date: | 1993-02-19 |
|---|---|
| Effective Date: | 1993-02-17 |
NIN#88/22, entitled "Section 115(3)(f) of the Securities Regulation - Time limit for raising a minimum subscription", was issued on August 12, 1988. This Notice, which replaces NIN#88/22, distinguishes between the number of days permitted by the Superintendent of Brokers for best efforts distributions in the case of distributions under National Policy Statement No. 47 ("NPS 47") and other distributions.
The number of days permitted by the Superintendent under section 115(3)(f) is
(a) 90 days from the date of issue of the final receipt for the short form prospectus, for distributions under NPS 47; and
(b) 180 days from the date of issue of the final receipt for the prospectus, for all other distributions.
Issuers doing a distribution other than under NPS 47 should refer to item 2 of Forms 12, 13 and 14 for further information.
DATED at Vancouver, British Columbia, on February 17, 1993.
Dean E. Holley
Superintendent of Brokers