BOR 97/09 - Relief Respecting the Requirement to Send Financial Statements and Quarterly Reports to Securityholders During a Disruption in Mail Service [Rescinded]
| Published Date: | 1997-11-21 |
|---|---|
| Effective Date: | 1997-11-20 |
| Rescinded Date: | 2000-12-08 |
IN THE MATTER OF THE SECURITIES ACT R.S.B.C. 1996, c. 418
AND
IN THE MATTER OF RELIEF RESPECTING THE REQUIREMENT TO SEND FINANCIAL STATEMENTS AND QUARTERLY REPORTS TO SECURITYHOLDERS DURING A DISRUPTION IN MAIL SERVICE
Order Under Section 91
WHEREAS under section 149 of the Securities Rules, R.B.C. Reg. 194/97 (the "Rules"), a reporting issuer is required to send interim and annual financial statements to each holder in British Columbia of its securities concurrently with filing those documents with the Commission, an exchange issuer is required to concurrently send a quarterly report to each holder in British Columbia of its securities, and all reporting issuers are required to file written confirmation of sending materials to security holders;
AND WHEREAS reporting issuers are generally dependent on regular mail service to meet the requirements of the Rules;
AND WHEREAS from time to time there is a disruption of regular mail service in Canada;
AND WHEREAS the Executive Director considers that to do so would not be prejudicial to the public interest;
IT IS ORDERED under section 91 of the Securities Act, R.S.B.C. 1996, c. 418, that a reporting issuer or mutual fund in British Columbia is exempt from section 149 of the Rules provided that:
(a) regular mail service is not available in Canada,
(b) the issuer has complied with the filing requirements of sections 144, 145 and 152 of the Rules as applicable,
(c) the issuer has issued and filed a press release summarizing the information contained in the filings made under sections 144, 145 and 152 of the Rules as applicable,
(d) the issuer has indicated in its press release that it will provide a copy of the financial statement or quarterly report to each security holder who requests it, and
(e) the issuer complies with section 149 as soon as practicable after regular mail service is resumed and, in any event, no later than ten days following resumption of service.
DATED at Vancouver, British Columbia, on November 20, 1997.
Paul C. Bourque
Executive Director