LPS 3-44 - Recognition of Stock Exchanges and Jurisdictions [Rescinded]

PART I  IMPLEMENTATION

1.1        Effective date - Local Policy Statement 3-44 dated November 1, 1989 is hereby rescinded and the following substituted therefor, effective August 15, 1991.

PART 2  APPLICATION

2.1        Recognition of stock exchanges and jurisdictions - This local policy statement provides for the recognition by the British Columbia Securities Commission of stock exchanges and jurisdictions for the purpose of certain sections of the Securities Act, S.B.C. 1985, c. 83 (the "Act") and the Securities Regulation, B.C. Reg. 270/86 (the "Regulation").

PART 3  RECOGNITION OF STOCK EXCHANGES

3.1        Recognition of stock exchanges 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) and 58(l)(b) and (c) of the Act, and

(c)           sections 13(2)(a), 74 and 143(2) of the Regulation.

3.2        Recognition of stock exchanges for take over bid and issuer bid purposes - The Commission recognizes the Vancouver Stock Exchange, the Alberta Stock Exchange, The Toronto Stock Exchange and the Montreal Exchange for the purpose of sections 80(l)(a) and 81(e) of the Act.

PART 4  RECOGNITION OF JURISDICTIONS

4.1        Recognition of jurisdictions for take over bid and issuer bid purposes - The Commission recognizes, for the purpose of sections 80(l)(e) and 81(h) of the Act,

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

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

DATED at Vancouver, British Columbia, on August 1, 1991.

Douglas  M.  Hindman
Chairman

REF: NIN#91/15