NIN 98/62 - Revised Exemption for Certain Distributions Outside British Columbia [NIN - Rescinded]

On August 27, 1998 the Commission issued BOR#98/8 under NIN#98/52 to provide a registration and prospectus exemption for certain distributions to purchasers outside British Columbia. At the same time the Commission also issued BOR#98/7 (the "Revised SHAIF BOR") and Local Policy Statement 3-27 (the "Local Policy") which together established the SHAIF System.

BOR#98/8 required, among other conditions, that the securities distributed under the exemption be listed or quoted on a recognized market. As a result, an issuer whose shares are listed could not rely on BOR#98/8 to distribute other types of securities.

The Commission has adopted BOR#98/11, which will replace BOR#98/8, in order to expand the exemption to distributions of any securities by an issuer that has equity securities listed or quoted on a recognized market, which is consistent with the definition of "qualifying issuer" as set out in the Revised SHAIF BOR, provided that the other conditions set out in BOR#98/11 are met.

DATED at Vancouver, British Columbia, on October 14, 1998

Douglas M. Hyndman
Chair

References: BOR#98/7
BOR#98/8
BOR#98/11
LPS 3-27