Securities Law

BCN 2004/18 - BC Instrument 53-502 Relief from concurrent delivery of financial statements and quarterly reports [BCN - Rescinded]

Published Date: 2004-04-22
Effective Date: 2004-04-21

The Commission is adopting BC Instrument 53-502 Relief from concurrent delivery of financial statements and quarterly reports, effective April 21, 2004. The Instrument provides relief from the concurrent delivery requirement in section 149 of the Securities Rules for issuers who file their interim or annual financial statements and quarterly reports before the applicable filing deadlines. An issuer relying on this relief must issue a press release when filing its financial information. The issuer must still send the appropriate financial information to its security holders and file written confirmation of compliance no later than the relevant filing deadline.

Once an issuer becomes subject to the requirements of National Instrument 51-102 Continuous Disclosure Obligations for its annual financial statements, it will no longer be able to rely on this relief but should instead comply with the procedure outlined in NI 51-102.

Questions
You may refer questions to:

Denise Duifhuis
Senior Legal Counsel
Legal and Market Initiatives
British Columbia Securities Commission
(604) 899-6792
(800) 373-6393 (in B.C. and Alberta)
dduifhuis@bcsc.bc.ca

April 21, 2004

 

Douglas M. Hyndman
Chair

Ref:  BC Instrument 53-502
National Instrument 51-102

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be found at the B.C. Securities Commission public website at www.bcsc.bc.ca in the Commission Documents database or the Historical Documents database.