Securities Law

LPS 3-44 - Recognition of Self Regulatory Body, Exchanges and Jurisdictions [Rescinded]

Published Date: 1995-12-22
Effective Date: 1996-01-01
Rescinded Date: 1999-11-26

1.         IMPLEMENTATION

1.1        Effective date

Local Policy Statement 3-44 dated August 1, 1991 is rescinded and the following substituted, effective January 1, 1996.

2.         APPLICATION

2.1        Recognition of self regulatory body, exchanges and jurisdictions

This policy provides for the recognition by the Commission of a self regulatory body, exchanges and jurisdictions for the purpose of certain sections of the Securities Act, S.B.C. 1985, c. 83 (the "Act") and the Securities Rules, B.C. Reg. 479/95 (the "Rules").

3.         RECOGNITION OF SELF REGULATORY BODY

3.1        Recognition of self regulatory body

The Commission recognizes the Pacific District of the Investment Dealers Association of Canada as a self regulatory body for the purpose of section 11(1) of the Act.

4.         RECOGNITION OF EXCHANGES

4.1        Recognition of Vancouver Stock Exchange for certain purposes

The Commission recognizes the Vancouver Stock Exchange for the purpose of

(a)        the definition of "exchange issuer" in section l(l) of the Act,

(b)        sections 11(2), 58(b)(i) and 58(b)(ii) of the Act,

(c)        section 89(d)(ii) of the Rules, and

(d)        Part 8 of the Rules, as referred to in the definition of "recognized resale requirements" in section 127 of the Rules.

4.2        Recognition of certain Canadian exchanges for underwriter membership, take over bid and issuer bid purposes

The Commission recognizes the Vancouver Stock Exchange, the Alberta Stock Exchange, The Toronto Stock Exchange and the Montréal Exchange for the purpose of sections 80(l)(a) and 81(e) of the Act and section 7 of the Rules.

5.         RECOGNITION OF JURISDICTIONS

5.1        Recognition of certain provinces and the U.S.A. for take over bid and issuer bid purposes

The Commission recognizes, for the purpose of sections 80(l)(e)(iii) and 81(h)(iii) of the Act,

(a)        Alberta, Saskatchewan, Manitoba, Ontario and Québec, and

(b)        the United States of America, where the bid complies with, and is not exempt from, the requirements of the Securities Exchange Act of 1934 of the United States.

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

Douglas M. Hyndman
Chair