Securities Law

31-503 - Exchange Contracts Dealers Trading In Commodity Pool Securities [BCI - Rescinded]

Published Date: 2001-06-01
Effective Date: 2001-05-30
Rescinded Date: 2009-09-28

BRITISH COLUMBIA SECURITIES COMMISSION

 

BC INSTRUMENT 31-503

 

The British Columbia Securities Commission, having considered that to do so would not be prejudicial to the public interest, orders that:

 

1.         the attached BC Instrument 31-503 entitled “Exchange Contracts Dealers Trading in Commodity Pool Securities” is made; and

 

2.            BOR#98/3 is revoked.

 

 

 

May 30, 2001

 

 

 

 

 

 

Brent W. Aitken

Member

 

 

 

________________________________________________________________

(This part is for administrative purposes only and is not part of the Order)

 

Authority under which Order is made:

Act and sections:- Securities Actsection 48

Other (specify):-

 

BC INSTRUMENT 31-503 (formerly BOR#98/3)

 

Exchange Contracts Dealers Trading In Commodity Pool Securities

 

Order under section 48 of the Securities Act

 

Definitions

 

1.         In this Instrument

 

“Act” means the Securities Act (British Columbia);

 

“commodity pool” means a mutual fund, other than a precious metals fund, that has adopted fundamental investment objectives that permit it to use or invest in

(a)        specified derivatives in a manner that is not permitted by NI 81-102, or

(b)        physical commodities in a manner that is not permitted by NI 81-102;

 

"fundamental investment objectives" has the meaning defined in NI 81-102;

 

"NI 81-102" means National Instrument 81-102 Mutual Funds.

 

Interpretation

 

2.         Terms defined or interpreted in the Act have the same meanings in this instrument.

 

Exemption

3. Section 34(1)(a) of the Act does not apply to a trade or distribution of securities by a person that is registered to trade in exchange contracts where the securities are issued by a commodity pool.