BOR 95/17 - The Legending of Certificates [Rescinded]

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

AND

IN THE MATTER OF THE LEGENDING Of CERTIFICATES

Order Under Section 159.4 of the Securities Act

WHEREAS on August 12, 1988, the Commission issued BOR#88/5 (the "Order") to provide an exemption from the legending requirement in section 120(2) of the Securities Regulation, B.C. Reg. 270/86 (the "Old Regulation") for issuers that are not exchange issuers;

AND WHEREAS the Lieutenant Governor in Council by B.C. Reg. 479/95, ordered, among other things, effective January 1, 1996, that

(a) certain amendments to the Securities Act, S.B.C. 1985, c. 83 (the "Act") are brought into force;

(b) the Old Regulation is repealed; and

(c) the regulation entitled the "Securities Rules" (the "Rules"), attached to B.C. Reg. 479/95, is made and is designated to be a rule of the Commission;

AND WHEREAS section 132(2) of the Rules, similar to section 120(2) of the Old Regulation, requires that where a security, at the date of its issue, is subject to a hold period as defined in section 132(1) of the Rules (the "Hold Period"), the issuer must endorse the certificate representing the security with a statement respecting the Hold Period;

AND WHEREAS the Commission considers that to continue the relief previously provided in the Order would not be prejudicial to the public interest;

EFFECTIVE January 1, 1996, IT IS ORDERED under section 159.4 of the Act that section 132(2) of the Rules does not apply to an issuer that is not an "exchange issuer", as defined in section 1 of the Act, provided that, prior to the completion of the distribution, the issuer gives notice in writing to each purchaser of a security subject to a Hold Period that

(a) the purchaser must file

(i) a report in the attached form (the "Initial Trade Report"), or

(ii) the report required under the laws of the jurisdiction in which the issuer carries on business or in which the issuer is incorporated, organized or continued, provided that the report requires substantially the same information as is required in the Initial Trade Report (the "Purchaser's Report"),

within 10 days of the initial trade of the security by the purchaser; and

(b) where the purchaser has filed an Initial Trade Report or the Purchaser'sReport with respect to a security, the purchaser is not required to file a further report in respect of additional trades of securities acquired on thesame date and under the same exemption as the security that is thesubject of the Initial Trade Report or the Purchaser's Report.

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

Attachment
REF: BOR#88/5

This is the form required under BOR#95/17 - In the Matter of the Legending of Certificates.

Securities Act

INITIAL TRADE REPORT

1. Name and address of seller

__________________________________________________________________

__________________________________________________________________

2. Name and address of the issuer whose securities were traded by the seller

__________________________________________________________________

__________________________________________________________________

3. Name and address of the party from whom the seller acquired the securities

__________________________________________________________________

__________________________________________________________________

4. Description of securities sold

(a) Number and description of securities ________________________

(b) Date of acquisition of securities by the seller ________________________

(c) Exemption under which securities were

acquired by the seller ________________________

(d) Exemption under which securities were

traded by the seller ________________________

(e) Date of sale of securities ________________________

(f) Sale price ________________________

5. Certificate of seller

The undersigned seller hereby certifies that the information given in this report relating to the seller is true and that, to the best of the seller's information and belief,

(a) the information given in this report relating to any other party is true,

(b) no unusual effort has been made to prepare the market or create a demand for the securities, and

(c) no extraordinary commission or other consideration has been paid in respect of the trade to which this report relates.

DATED at this day of 19 .

____________________________________
Signature of the seller or, if the seller is a company, signature of authorized signatory

____________________________________

____________________________________
Name of the seller or, if the seller is a company, name and office of authorized signatory

INSTRUCTIONS:

1. If the space provided for any answer is insufficient, additional sheets may be used. Each sheet must be cross-referenced to the relevant item, properly identified and signed by the person whose signature appears on the report.

2. File this report with the required fee and completed Fee Checklist. In order to determine the fee payable, consult section 22 of the Securities Regulation, B.C. Reg. 478/95. Cheques should be made payable to the "British Columbia Securities Commission".

IT IS AN OFFENCE FOR A PERSON TO MAKE A STATEMENT IN A DOCUMENT REQUIRED TO BE FILED OR FURNISHED UNDER THE SECURITIES ACT THAT, AT THE TIME AND IN LIGHT OF CIRCUMSTANCES UNDER WHICH IT IS MADE, IS A MISREPRESENTATION.