13-601 - Required Forms [BCP - Rescinded]
- BCN2008/16 - Adoption of National Instrument 41-101 General Prospectus Requirements, Related Instruments and Consequential Amendments [BCN - Lapsed]
BC Policy 13-601
Effective March 17, 2008
PART 1 SPECIFICATION OF FORMS
1.1 Executive Director Specifies Required Forms - The Securities Act and regulations mandate the use of required forms in certain circumstances. Section 182 of the Act authorizes the Executive Director to specify the required forms. We list the specified forms in the Index of BC Forms, attached to this policy. We also list, for convenience, forms that the Commission has adopted as rules under section 184 of the Act. The Index also lists the sections of the Act and regulations that refer to a required form where the Executive Director has not specified a form, as well as sections of the Securities Rules that refer to specified offering documents.
1.2 Updating the Index - We will update the Index when necessary and will attach the most current Index to this policy. The Index is also available separately on our website at www.bcsc.bc.ca under Securities Law & Policy: Policies & Instruments (see site map).
PART 2 USE OF SOME FORMS
2.1 Limitation on Use of Forms - The Executive Director limits the ways in which the following BC Forms can be used: BC Forms 31-901F, 45-901F and 45-906F.
2.2 Personal Information Form -The Executive Director has not specified a form of personal information form under s. 90 of the Securities Act. National Instrument 41-101 General Prospectus Requirements and National Policy 12-202 Revocation of a Compliance-Related Cease Trade Order describe what personal information should be filed by issuers or their directors, executive officers, proposed directors, proposed executive officers, and promoters in certain circumstances. In situations where the Commission or the Executive Director requires a director, officer, promoter, or control person of an issuer to submit information under s. 90 of the Securities Act, the person would generally be required to provide that information in the form required under National Instrument 41-101.
2.3 Offering Memoranda - Form 45-106F2 is the required form of offering memorandum under section 2.9 of NI 45-106 Prospectus and Registration Exemptions (NI 45-106) for all offerings of securities by issuers except for:
(a) Form 45-106F3, which may be used by qualifying issuers, as defined in NI 45-106;
(b) BC Form 45-906F, which is the required form of offering memorandum under section 2.9 of NI 45-106 for offerings of real estate securities; and
(c) BC Form 45-901F, which is the required form of offering memorandum under section 2.9 of NI 45-106 for a distribution of a syndicated mortgage.
2.4 Registration Forms - If a dealer, underwriter or adviser required to file a Form 31-901F, either
(a) has its principal place of business in a Canadian jurisdiction other than British Columbia, or
(b) belongs to an exchange or self regulatory body in Canada,
then, instead of filing the form specified in this policy, the dealer, underwriter or adviser may file a corresponding form required by that jurisdiction, exchange or self regulatory body.
However, if the corresponding form does not contain all material information that the relevant form requires, then the Executive Director may require the firm or individual to file further information.
PART 3 COMPLIANCE WITH FORM REQUIREMENTS
Section 182 of the Act authorizes the Executive Director to specify the form, content and other particulars of a record that must be prepared, filed, provided, or sent in a required form (the Required Form) under the Act or under a regulation or rule made under the Act.
Certain types of forms provide an outline of their contents. Information may be added to this type of form whether or not the outline specifically refers to such information. In some cases, a section of the Rules, or the form itself, specifically indicates that inapplicable sections may be deleted.
Other types of forms require an individual or firm to fill in the blanks. Persons completing and filing this type of form (such as BC Form 12-602F and Form 45-106F1) must complete them without additions, deletions or modifications. If a person is filing a Required Form that cannot be modified, but needs to indicate that sections of the form do not apply, then the person may draw lines through the inapplicable sections or insert "N/A" next to or beneath those sections. If a person makes deletions for any other reason, then the person must write a letter explaining the reasons for the deletions and submit it with the Required Form.
Only information that a person submits in the Required Form will be considered as "filed" under the Act.
March 13, 2008
Brenda M. Leong