Securities Law

BCN 2006/29 - Adoption of Amendments to NI51-102, Form 51-102F1, Form 51-102F2, Form 51-102F3, Form 51-102F4, Form 51-102F5, Form 51-102F6, and Companion Policy 51-102CP, NI52-107, NI71-102, and Companion Policy 71-102CP, NI44-101 and 44-101F1 [BCN-Lapsed]

Published Date: 2006-12-22
Rescinded Date: 2012-05-30
Related Document(s):

Concurrently Published:

Effective December 29, 2006, the British Columbia Securities Commission, with the other Canadian Securities Administrators (CSA), is adopting amendments to

  • National Instrument 51-102 Continuous Disclosure Obligations,
  • Form 51-102F1, Form 51-102F2, Form 51-102F3, Form 51-102F4, Form 51-102F5, and Form 51-102F6,
  • Companion Policy 51-102CP Continuous Disclosure Obligations,
  • National Instrument 52-107 Acceptable Accounting Principles, Auditing Standards and Reporting Currency,
  • National Instrument 71-102 Continuous Disclosure and Other Exemptions relating to Foreign Issuers (NI 71-102),
  • Companion Policy 71-102CP Continuous Disclosure and Other Exemptions relating to Foreign Issuers,
  • National Instrument 44-101 Short Form Prospectus Distributions, and 
  • Form 44-101F1 Short Form Prospectus.

Also effective December 29, 2006, we are revoking

  • British Columbia Instrument 51-507 Venture issuers traded on certain foreign markets,
  • British Columbia Instrument 51-508 Exemption for interim periods in non-standard financial years,
  • BC Interpretation Note 52-703 Use of Currencies in Material filed with Securities Regulatory Authorities, and
  • British Columbia Instrument 51-801 Implementing National Instrument 51-102 Continuous Disclosure Obligations and National Instrument 52-107 Acceptable Accounting Principles, Auditing Standards and Reporting Currency (BCI 51-801).

We are issuing BC Instrument 52-801 Implementing National Instrument 52-107 Acceptable Accounting Principles, Auditing Standards and Reporting Currency, which replaces BCI 51-801. BCI 52-801 is narrower than the previous implementing instrument and exempts an issuer (other than an investment fund) from certain financial reporting requirements in the Securities Rules provided the issuer complies with National Instrument 52-107 Acceptable Accounting Principles, Auditing Standards and Reporting Currency.

The Commission adopted National Instrument 71-102 Continuous Disclosure and Other Exemptions relating to Foreign Issuers as an exemption order rather than as a commission rule. Because of this, instead of adopting amendments to NI 71-102 as the rest of the CSA is doing, BC is replacing it with a new NI 71-102 that will match the amendments the rest of the CSA is adopting. This new instrument is also effective December 29, 2006. We have also adopted a new companion policy to new NI 71-102.

December 21, 2006

 


Douglas M. Hyndman
Chair


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 Policies & Instruments or Historical Policies & Instruments sections of the website.