35-501 - Remote Access Trades on the Canadian Venture Exchange [BCI - Rescinded]

The British Columbia Securities Commission, having considered that to do so would not be prejudicial to the public interest, orders that Blanket Order 35-501 (BC) entitled “Remote Access Trades on the Canadian Venture Exchange” is issued as set out in the attached Schedule.  

            DATED at Vancouver, British Columbia, on November 26, 1999.

                                                                        Douglas M. Hyndman

                                                                        Chair 

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

Authority under which Order is made:

Act and sections:-   Securities Act, section 48

Other (specify):-

SCHEDULE

BLANKET ORDER  35-501 (BC)

REMOTE ACCESS TRADES ON THE

CANADIAN VENTURE EXCHANGE

Order Under Section 48 of the Securities Act 

PART 1          DEFINITIONS AND INTERPRETATION 

1.1                   Definitions - In this Blanket Order:

“CDNX” means the Canadian Venture Exchange Inc.;

“remote access trade” means a trade in a security executed on CDNX by using a computer terminal outside of British Columbia that provides access to the trading systems of CDNX.

1.2                   Interpretation - Unless otherwise defined in this Blanket Order, terms used in this Blanket Order that are defined or interpreted in the Securities Act, the Securities Rules or National Instrument 14-101, entitled "Definitions", have the meaning set out in the Securities Act, the Securities Rules or National Instrument. 

PART 2          EXEMPTION ORDER

2.1                  The registration requirements of section 34(1)(a) of the Act do not apply to a remote access trade by a dealer, or by a partner, director, officer or salesperson of a dealer, if

(a)       at the time of the remote access trade

(i)        the dealer is registered with one or more Canadian securities regulatory authorities, and is not suspended from registration by any Canadian securities regulatory authority,

(ii)       the dealer is a member of an SRO recognized by a Canadian securities regulatory authority,

(iii)      the dealer is entitled to trade on CDNX, and

(iv)      the partner, director, officer or salesperson of the dealer that is effecting the trade is registered with one or more Canadian securities regulatory authorities with which the dealer is registered, and is not suspended from registration by any Canadian securities regulatory authority; and

(b)       the trade is made on behalf of a person that is not resident in British Columbia. 

PART 3          EFFECTIVE DATE

This Blanket Order is effective at 11:59 p.m. (Mountain Standard Time) on November 26, 1999.