44-801 - Implementing the Prompt Offering Qualification System Under National Instrument 44-101 [IR Proposed - Lapsed
| Published Date: | 1998-02-20 |
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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,
(c) "NI 44-101" means National Instrument 44-101, Prompt Offering Qualification System,
(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 POP system if that issuer complies with NI 44-101.
2.2 Financial Statements
(1) Section 114(1)(b)(i) of the Securities Rules does not apply to an issuer filing a preliminary short form prospectus or short form prospectus under the POP system if that issuer complies with NI 44-101 and Form 44-101F2, Short Form Prospectus - Contents of Short Form Prospectus..
(2) Section 149 of the Securities Rules does not apply to an issuer that complies with NI 44-101 if
(a) the issuer is required to file 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 POP 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 POP system if that issuer complies with NI 44-101 and Form 44-101F2, Short Form Prospectus - Contents of Short Form Prospectus.