BCN2009/22 - Adoption of BC Instrument 81-504 Transactions Between Mutual Funds and Responsible Persons Relating to Certain Debt Securities, Mortgages and Equity Securities [BCN]
| Published Date: | 2009-09-29 |
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| Effective Date: | 2009-09-28 |
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Concurrently Published:
Adoption of BC Instrument 81-504 Transactions Between Mutual Funds and Responsible Persons Relating to Certain Debt Securities, Mortgages and Equity Securities
Effective September 28, 2009, the Commission:
- revoked old BC Instrument 81-504 Transactions Between Mutual Funds and Responsible Persons Relating to Certain Debt Securities, Mortgages and Equity Securities (old BCI 81-504) (see the Bulk Revocation Order dated September 21, 2009), and
- adopted new BC Instrument 81-504 Transactions Between Mutual Funds and Responsible Persons Relating to Certain Debt Securities, Mortgages and Equity Securities (new BCI 81-504).
Under old BCI 81-504, section 127(1)(b) of the Securities Act (Act) did not apply in certain circumstances. However, effective September 28, 2009, section 127 is repealed. New BCI 81-504 replaces the reference to section 127(1)(b) of the Act with the equivalent provision in section 13.5(2)(b) of NI 31-103 Registration Requirements and Exemptions (NI 31-103).
New BCI 81-504 also
- replaces the reference to section 46 of the Act (since it is repealed) with equivalent wording from section 8.21(2)(b) of NI 31-103, and incorporates the defined terms (approved credit rating and approved credit rating organization) used in section 8.21(2)(b) of NI 31-103, and
- specifies that the term responsible person has the same meaning as in section 13.5(1) of NI 31-103, rather than section 120(1) of the Act.
September 28, 2009
Brent W. Aitken
Acting Chair
Ref: Securities Act, sections 46, 120 and 127
BC Instrument 81-504 Transactions Between Mutual Funds and Responsible Persons Relating to Certain Debt
Securities
National Instrument 31-103 Registration Requirements and Exemptions
This Notice may refer to other documents. These documents can be found at the B.C. Securities Commission public website at www.bcsc.bc.ca in the section Securities Law & Policy: Policies & Instruments.