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Securities Law

NIN 97/45 - Disruption of Mail Service [NIN - Rescinded]

Published Date: 1997-11-21
Effective Date: 1997-11-20
British Columbia securities law contains various requirements relating to filing documents with the British Columbia Securities Commission and delivery of documents to securityholders. The Executive Director is issuing this notice to provide guidance for persons who must file documents with the Commission or send documents to the securityholders during the anticipated disruption of mail service.

Filing with the Commission

The anticipated disruption of mail service has no effect on a person’s requirements to file documents with the Commission. Many documents are now filed through SEDAR and a disruption of mail service will have no impact on these filings. Other documents that are not filed through SEDAR (such as registration applications and insider reports) must continue to be filed. During any disruption in mail service, these filings should be made by delivery or fax. Relevant BCSC fax numbers are given below. Insiders are reminded that Blanket Order#95/5 permits insider reports to be filed solely by fax (see also CSA#55-301) The number for the dedicated fax line for insider reports is 899-6550. Deliveries should be made to Suite 1100, 865 Hornby Street, Vancouver, BC V6Z 2H4.

Mail may be dropped off at any Government of British Columbia office for forwarding to the British Columbia Securities Commission through the Government’s internal mail system. However, complete addressing information should be included on all mail deposited at government offices.

Sending Financial Reports, Offering Documents,
Proxy Solicitation Materials and Circulars to Securityholders

The requirements for delivery of documents to securityholders depends on what type of document is being delivered. Two different alternatives are set out below.

1. Financial Reports - The Executive Director has issued a blanket order, BOR#97/9, exempting issuers from the requirements to send financial statements and quarterly reports to securityholders. Issuers must, however, make reasonable efforts to ensure that such reports are made available to securityholders upon request. In addition, the blanket order requires the issuer to summarize its financial results in a press release and to mail financial statements and quarterly reports to its securityholders on the resumption of normal mail service and to file confirmation of mailing with the Commission at that time.

2. Offering Documents, Proxy Solicitation Materials and Circulars - Issuers and other affected persons are required to deliver these documents to securityholders. Issuers and other affected persons must take reasonable steps to ensure that these documents are received by securityholders and that securityholders are provided with a mechanism to exercise their rights relating to these documents. Issuers and other affected persons should consult their legal advisers in order to determine how best to comply with their obligations. Issuers incorporated in British Columbia are reminded that they can postpone their annual meeting by applying to the Registrar of Company under section 139 of the British Columbia Company Act.

Interested members of the public should be aware that the above documents are generally available on the SEDAR Web site at:

Sending Confirmations of Trade, Statements of Account
and other Documentation to Clients

Registrants must make reasonable efforts to meet their obligations to their clients with respect to sending confirmation of trades, statements of account and other documentation to clients.

Applications for Exemptive Relief
from Delivery Obligations

Applications for relief from the requirements for delivery of documents to securityholders and other parties may be necessary. Applicants should provide submissions in the application as to how the documents will be received by the necessary parties and, where appropriate, how those parties can exercise their rights regarding those documents. In cases where relief is urgently needed, staff will attempt to deal with such applications as quickly as possible.

Applicants should be aware that due to the number and complexity of applications already in process, and the upcoming holiday season, staff cannot assure filers that applications filed after December 5, 1997 will be reviewed before December 31, 1997 even where the filing is accompanied by payment of the fee for expedited treatment.

Contacts:TelephoneFax No.
Insider Reports899-6548899-6550
Offering Documents and Circulars899-6705899-6700
Proxy Materials899-6729899-6506
Applications for Exemption899-6648899-6700

DATED at Vancouver, British Columbia, on November 20, 1997.

Paul C. Bourque
Executive Director