BOR 95/10 - The Summary Prospectus Disclosure System [Rescinded]

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

AND

IN THE MATTER OF THE SUMMARY PROSPECTUS DISCLOSURE SYSTEM

Order Under Section 59 of the Securities Act

WHEREAS Part 11 of Local Policy Statement 3-02 - Prospectus Filing Requirements ("LPS 3-02") sets out the requirements for the use of the summary prospectus and base disclosure document (the "Summary Prospectus Disclosure System");

AND WHEREAS the Summary Prospectus Disclosure System has been structured on the basis that issuers of securities in compliance with Part 11 of LPS 3-02 will be exempted from certain requirements of the Securities Act, S.B.C. 1985, c. 83, (the "Act");

AND WHEREAS the Commission considers that providing such an exemption will reduce costs for issuers making public offerings and will provide investors with a shorter, user friendly document without reducing the existing benefits of investor protection or the degree and quality of disclosure to the public;

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

EFFECTIVE January 1, 1996, IT IS ORDERED under section 59 of the Act, that sections 42(2), 49(1) and 50(1) of the Act do not apply to a distribution of securities by an issuer

(a) permitted to file a prospectus on Form 12A - Information Required in Prospectus of a Junior Industrial Issuer,

(b) permitted to file a prospectus on Form 12B - Information Required in Exchange Offering Prospectus of an Industrial Issuer,

(c) permitted to file a prospectus on Form 14A - Information Required in Prospectus of a Natural Resources Issuer,or

(d) permitted to file a prospectus on Form 14B - Information Required in Exchange Offering Prospectus of a Natural Resource Issuer,

provided that a preliminary summary prospectus, preliminary base disclosure document, summary prospectus and base disclosure document, including the required certificates, are filed under section 42(1) of the Act in accordance with the requirements and procedures of the Summary Prospectus Disclosure System set out in Part 11 of LPS 3-02.

DATED at Vancouver, British Columbia, on December 21, 1995.

References: LPS 3-02
Form 12A
Form 12B
Form 14A
Form 14B