81-501 - Mutual Funds Management Expense Ratio Calculation Transitional Relief [BCI - Rescinded]

Published Date:	2000-02-04
Effective Date:	2000-02-03
Rescinded Date:	2003-03-27

The British Columbia Securities Commission, having considered that to do so would not be prejudicial to the public interest, orders that Blanket Order 81-501 entitled “Mutual Funds Management Expense Ratio Calculation Transitional Relief” is issued as set out in the attached Schedule.

DATED at Vancouver, British Columbia, on February 3, 2000.

Douglas M. Hyndman
Chair

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

Authority under which Order is made:
Act and sections:-
Other (specify):- National Instrument 81-102 “Mutual Funds”, section 19.1

PART 1 EXEMPTION ORDER

1.1 Calculation of Management Expense Ratio - The requirements for the calculation of a management expense ratio as set out in section 16.1 of National Instrument 81-102 Mutual Funds (the “National Instrument”) do not apply to the disclosure and calculation of a management expense ratio for a financial period of a mutual fund that ended before February 1, 2000 if the management expense ratio of a mutual fund for such a financial period is disclosed and calculated in accordance with securities legislation applicable to mutual funds on January 31, 2000.

1.2 Application of National Instrument - The National Instrument does not apply to reports to securityholders that include only financial statements that relate to financial periods that ended before the National Instrument came into force.


PART 2 EFFECTIVE DATE

2.1 This Blanket Order comes into effect on February 1, 2000.