BCN 2003/33 - Adoption of Multilateral Instrument 45-105 Trades to Employees, Senior Officers, Directors, and Consultants and Revocation of BC Instrument 45-507 Trades to Employees, Executives and Consultants [BCN - Rescinded]
The British Columbia Securities Commission is implementing Multilateral Instrument 45-105 Trades to Employees, Senior Officers, Directors, and Consultants effective August 15, 2003. The securities regulatory authorities in all other provinces and territories, except Québec, also have implemented, or will shortly implement, MI 45-105.
MI 45-105 provides exemptions from the registration, prospectus, and issuer bid requirements for certain trades among an issuer, its employees, senior officers, directors, consultants, and permitted transferees. It consolidates and, as much as possible, harmonizes the exemptions and requirements in each of the following:
- British Columbia Instrument 45-507 Trades to Employees, Executives and Consultant
- OSC Rule 45-503 Trades to Employees, Executives and Consultants
- Alberta Securities Commission Blanket Order 45-506
- Nova Scotia Securities Commission Blanket Order No. 45-501 Trades to Employees, Executives and Consultants
- Saskatchewan Securities Commission General Ruling/Order 45-907 Trades to Employees, Executives and Consultants
As a result, the Commission is revoking BC Instrument 45-507. OSC Rule 45-503 and the Alberta, Nova Scotia and Saskatchewan orders will also be revoked.
You may refer questions to:
Rosann L. Youck
Senior Legal Counsel
Legal and Market Initiatives
British Columbia Securities Commission
(800) 373-6393 (in B.C. and Alberta)
August 15, 2003
Douglas M. Hyndman
Ref: Multilateral Instrument 45-105
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be found at the B.C. Securities Commission public website at www.bcsc.bc.ca in the Commission Documents database or the Historical Documents database.