44-801 - Implementing Short Form Prospectus Distributions Under National Instrument 44-101 [IR Proposed - Lapsed]
| Published Date: | 2000-10-13 |
|---|
RULE 44-801
IMPLEMENTING
SHORT FORM PROSPECTUS DISTRIBUTIONS
UNDER
NATIONAL INSTRUMENT 44-101
PART 1 INTERPRETATION AND APPLICATION
1.1 Interpretation
In this Rule
(a) "Act" means the Securities Act,
(b) "Securities Rules" means the rules made pursuant to B.C. Reg. 194/97, as amended by B.C. Reg. 18/98,
(c) "NI 44-101" means National Instrument 44-101, Short Form Prospectus Distributions, including Form 44-101F1, AIF, Form 44-102F2, MD&A and Form 44-101F3, Short Form Prospectus,
(d) a term that is defined or interpreted in the Act has the meaning ascribed to it in the Act,
(e) a term that is defined or interpreted in Part 1 of NI 44-101 has the meaning ascribed to it in that Part.
1.2 Application
The exemptions established under this Rule are in addition to those established under NI 44-101.
PART 2 PROSPECTUS DISTRIBUTIONS
2.1 Preliminary Short Form Prospectus and Short Form Prospectus
Sections 68 and 69 of the Act do not apply to an issuer who distributes securities under the Short Form Prospectus Distributions system if that issuer complies with NI 44-101.
2.2 Financial Statements
(1) Sections 2, 111, 112, 114, 118 and 119 of the Securities Rules do not apply to an issuer filing a preliminary short form prospectus or short form prospectus under the Short Form Prospectus Distributions system if that issuer complies with NI 44-101.
(2) Section 149 of the Securities Rules does not apply to an issuer that complies with NI 44-101 if
(a) the issuer files its comparative audited annual financial statements with the Commission in order for a receipt to be issued for its preliminary short form prospectus or short form prospectus under the Short Form Prospectus Distributions system, and
(b) within the time period prescribed by section 145(2)(a) of the Securities Rules, the issuer sends its financial statements to each holder in British Columbia of its securities, other than debt instruments and files a written confirmation of sending.
2.3 Receipts
Section 120(3)(d) of the Securities Rules does not apply to an issuer filing a short form prospectus under the Short Form Prospectus Distributions system if that issuer complies with NI 44-101.