Securities Law

BCN 2003/13 - Securities Amendment Act, 2003 [BCN - Rescinded]

Published Date: 2003-04-16
Effective Date: 2003-04-16

Bill 24
Bill 24, amending the Securities Act, passed third reading in the Legislative Assembly and received Royal Assent on April 10, 2003. Some of the amendments will come into force by regulation on a later date.

Key amendments
The key amendments will

  • allow salespersons to incorporate or operate as independent contractors
  • require insiders to report their positions in equity monetization transactions

Complete list of sections affected
In force
Sections 1(1) definition of “investor relations activities”; 15(3); 39(1)(c); 153(1)(a)(ii); 161(1)(a); 167(5).

Not yet in force
Sections 1(1) definition of “salesperson”; 40; 84.1; 85; 86(1); 87; 87.1; 117; 119(1); 155(1)(b); 183(6).

Securities Amendment Act, 2002
Also not yet in force are the following provisions of the Securities Amendment Act, 2002: repeal of section 42 and the repeal of sections 45(2)(5) and 74(2)(4) (the $97,000 exemption).

Text of Bill 24
The full text of Bill 24, the Securities Amendment Act, 2003, can be located at the B.C. Legislative Assembly website:

April 16, 2003


Douglas M. Hyndman

This Notice may refer to other documents. These documents can be found at the B.C. Securities Commission public website at in the Commission Documents database or the Historical Documents database.