BOR 99/04 - The Revocation of BOR#92/3 [Rescinded]

IN THE MATTER OF THE SECURITIES ACT R.S.B.C. 1996, c. 418

AND

IN THE MATTER OF THE REVOCATION OF BOR#92/3

Revocation Order Under Section 171 of the Securities Act

WHEREAS on November 18, 1992 the Superintendent of Brokers issued BOR#92/3;

AND WHEREAS BOR#92/3 exempts certain trades in Recognized Options, as defined in that order, from sections 20 and 42 of the Securities Act, S.B.C. 1985, c. 83 (now sections 34 (1) and 61 of the Securities Act) and from section 13 of the Commodity Contract Act, R.S.B.C. 1979, c. 56 (the "CCA"), provided that certain conditions are satisfied;

AND WHEREAS on January 1, 1996 the CCA was repealed and amendments to the Securities Act came into force that, among other things, amended the definition of "security" to exclude "exchange contracts" and provided for separate regulation of "exchange contracts";

AND WHEREAS to the extent that a Recognized Option comes within the definition of an "exchange contract" under the Securities Act, BOR#92/3 is no longer of legal effect;

AND WHEREAS on December 30, 1998 the Executive Director (formerly called the Superintendent of Brokers) issued NIN#98/73 to notify interested persons that BOR#92/3 would be revoked on or after June 30, 1999, subject to any comments received;

AND WHEREAS the Executive Director did not receive any comments concerning the revocation of BOR#92/3;

AND WHEREAS the Executive Director considers that to do so would not be prejudicial to the public interest;

IT IS ORDERED under section 171 of the Securities Act that BOR#92/3 is revoked.

DATED at Vancouver, British Columbia, on June 30, 1999.

Ref: BOR#92/3
NIN#98/73