11-502 - Voluntary Surrender of Reporting Issuer Status [BCI - Rescinded]
Published Date: | 2008-09-15 |
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Effective Date: | 2008-09-15 |
Rescinded Date: | 2012-07-31 |
Document(s): |
|
Concurrently Published:
- 11-502CP - Voluntary Surrender of Reporting Issuer Status [CP - Rescinded]
- BCN 2008/43 - Adoption of BC Instrument 51-509 Issuers Quoted in the U.S. Over-the-Counter Markets, Companion Policy 51-509CP, related forms, related consequential amendments and BC Instrument 71-503 Material Change Reporting by OTC Reporting Issuers [BCN - Lapsed]
The British Columbia Securities Commission, having considered it to be not prejudicial to the public interest, orders that, effective September 15, 2008,
- BC Instrument 11-502 entitled Voluntary Surrender of Reporting Issuer Status made on December 19, 2000 is revoked, and
- the attached BC Instrument 11-502 entitled Voluntary Surrender of Reporting Issuer Status is made.
September 11, 2008
Douglas M. Hyndman
Chair
______________________________________________________________________
(This part is for administrative purposes only and is not part of the Order)
Authority under which Order is made:
Act and sections: Securities Act, sections 88 and 171
BC Instrument 11-502
Voluntary Surrender of Reporting Issuer Status
Order under Section 88 of the Securities Act
Definitions
1. In this order:
"closely held reporting issuer" means a reporting issuer whose outstanding securities are beneficially owned, directly or indirectly, by not more than 50 persons and are not traded through or quoted on any exchange or quotation system; and
"notice" means a written notice entitled "Voluntary Surrender of Reporting Issuer Status" filed by a closely held reporting issuer stating that the issuer is a closely held reporting issuer and will cease to be a reporting issuer as of a date specified in the notice that is at least 10 days from the date the notice is filed.
Application
2. This order does not apply to an issuer that is an OTC reporting issuer under BC Instrument 51-509 Issuers Quoted in the U.S. Over-the-Counter Markets.
Exemption order
3. A closely held reporting issuer that has filed a notice ceases to be a reporting issuer on the date specified in the notice.