31-503 - Exchange Contracts Dealers Trading In Commodity Pool Securities [BCI - Rescinded]
| Published Date: | 2001-06-01 |
|---|---|
| Effective Date: | 2001-05-30 |
| Rescinded Date: | 2009-09-28 |
BRITISH COLUMBIA SECURITIES COMMISSION
BC INSTRUMENT 31-503
The British Columbia Securities Commission, having considered that to do so would not be prejudicial to the public interest, orders that:
1. the attached BC Instrument 31-503 entitled “Exchange Contracts Dealers Trading in Commodity Pool Securities” is made; and
2. BOR#98/3 is revoked.
May 30, 2001
Brent W. Aitken
Member
________________________________________________________________
(This part is for administrative purposes only and is not part of the Order)
Authority under which Order is made:
Act and sections:- Securities Actsection 48
Other (specify):-
BC INSTRUMENT 31-503 (formerly BOR#98/3)
Exchange Contracts Dealers Trading In Commodity Pool Securities
Order under section 48 of the Securities Act
Definitions
1. In this Instrument
“Act” means the Securities Act (British Columbia);
“commodity pool” means a mutual fund, other than a precious metals fund, that has adopted fundamental investment objectives that permit it to use or invest in
(a) specified derivatives in a manner that is not permitted by NI 81-102, or
(b) physical commodities in a manner that is not permitted by NI 81-102;
"fundamental investment objectives" has the meaning defined in NI 81-102;
"NI 81-102" means National Instrument 81-102 Mutual Funds.
Interpretation
2. Terms defined or interpreted in the Act have the same meanings in this instrument.
Exemption
3. Section 34(1)(a) of the Act does not apply to a trade or distribution of securities by a person that is registered to trade in exchange contracts where the securities are issued by a commodity pool.