BOR 90/01 - Trades of Government Warrants [Rescinded]

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

IN THE MATTER OF TRADES OF GOVERNMENT WARRANTS

Exemption Order under Sections 33 and 59

WHEREAS an issuer may issue bonds, debentures or other evidence of indebtedness of or guaranteed by the government of Canada or a province ("Government Bonds") under sections 32(a)(i) and 58(1)(a) of the Securities Act, S.B.C. 1985, c. 83 (the "Act");

AND WHEREAS an issuer is unable to rely on the exemptions from sections 20 and 42 contained in sections 32(a)(i) and 58(1)(a) of the Act to distribute securities ("Government Warrants") entitling the holder to acquire Government Bonds;

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

IT IS ORDERED under Sections 33 and 59 of the Act that sections 20 and 42 of the Act do not apply to a trade of Government Warrants issued by an issuer of Government Bonds.

DATED at Vancouver, British Columbia, this 29th day of January 1990.