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Securities Law

41-501 - Variation of Prospectus Disclosure Requirements for Issuers Using OSC Prospectus Rule [BCI - Rescinded]

Published Date: 2000-12-15
Effective Date: 2000-12-31
Rescinded Date: 2008-03-17
The Executive Director, having determined that the variation does not inhibit, or is necessary for, full, true and plain disclosure, orders that the attached BC Instrument 41-501 entitled “Variation of Prospectus Disclosure Requirements for Issuers Using OSC Prospectus Rule” is made effective December 31, 2000.


DATED at Vancouver, British Columbia, on December 13, 2000.



Steve Wilson
Executive Director

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

Authority under which Order is made:
Act and sections:- Securities Rules, section 95
Other (specify):-




BC INSTRUMENT 41-501

VARIATION OF PROSPECTUS DISCLOSURE REQUIREMENTS FOR ISSUERS USING OSC PROSPECTUS RULE

Variation Under Section 95 of the Securities Rules


Definitions

1. In this Instrument:

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

“NP 43-201” means National Policy 43-201 Mutual Reliance Review System for Prospectuses and Annual Information Forms;

“OSC” means the Ontario Securities Commission;

“OSC Prospectus Rule” means OSC Rule 41-501 General Prospectus Requirements;

“Prospectus” means a long form prospectus filed in British Columbia on or after December 31, 2000 and includes, for purposes of this Instrument, an information circular, takeover bid circular or any other document that contains information required under a prospectus form, and

“Rules” means the British Columbia Securities Rules.Interpretation

2. Terms used in this Instrument that are defined or interpreted in the Act or the Rules have the meaning set out in the Act or the Rules.

Variation

3. The executive director varies each disclosure requirement in Part 9 of the Rules for any portion of a Prospectus that:

(a) complies with the comparable provision in the OSC Prospectus Rule identified in the table attached as Schedule A; or

(b) does not comply with the comparable provision because the issuer has obtained a waiver from the OSC or the principal regulator under NP 43-201.



SCHEDULE A TO BC INSTRUMENT 41-501

BC PROSPECTUS DISCLOSURE REQUIREMENTS AND
COMPARABLE SECTIONS IN THE OSC LONG FORM RULE


BC Securities Rules - Part 9
Comparable Section in the Ontario Long Form Rule 41-501 ("LFR") or Form *
Reference
TopicReference
s. 98(2)-(6)Prospectus style, order of information, inclusion of charts, graphs, logosLFR, s.3.2
s. 107Disclosure of interests of a professional personForm, 28.3
s. 111Financial statements not requiring an auditor's reportLFR, Part 4, Part 6 & s.13.3(2)
s. 112Financial statement requirements for an issuer other than a mutual fund issuerLFR, Part 4
s. 114Financial statements for an acquired businessLFR, ss. 2.2 - 2.5 & Part 6
s. 118Financial statements of a guarantorLFR, Part 5

* Section 1.1 of OSC Rule 41-501 requires that a prospectus be prepared in accordance with OSC Form 41-501F1.