BOR 89/05 - Trades In Securities Held Subject To An Escrow Or Pooling Agreement [Rescinded]

IN THE MATTER OF THE SECURITIES ACT S.B.C. 1985, c.83 AND

IN THE MATTER OF TRADES IN SECURITIES HELD SUBJECT TO AN ESCROW OR POOLING AGREEMENT

Exemption Order under Section 33

WHEREAS a person who beneficially owns securities that are subject to the terms of an escrow or pooling agreement in the form required by the British Columbia Securities Commission ("Escrowed Securities") may not trade in the Escrowed Securities unless the person (a "Transferor") complies with, or is otherwise exempt from section 20 of the Securities Act, S.B.C. 1985, c.83 (the "Act");

AND WHEREAS the required form of escrow or pooling agreement provides that a Transferor may not trade in Escrowed Securities without the prior consent of the Superintendent of Brokers (the "Superintendent") or the Vancouver Stock Exchange (the "VSE");

AND WHEREAS the Superintendent has considered whether an order should be made on his own motion under section 33 of the Act that section 20 of the Act does not apply to a Transferor in respect of a trade in Escrowed Securities by the Transferor;

AND WHEREAS the Superintendent considers that it would not be prejudicial to the public interest to do so;

IT IS ORDERED under section 33 of the Act that section 20 of the Act does not apply to a Transferor in respect of a trade in Escrowed Securities by the Transferor provided that

has consented in writing to the trade by the Transferor. 

DATED at Vancouver, British Columbia, this 5th day of October, 1989.

Neil de Gelder
Superintendent of Brokers