43-501 - Exemption from certificate requirement for foreign underwriters [BCI - Rescinded]
Published Date: | 2006-10-18 |
---|---|
Effective Date: | 2006-10-18 |
Rescinded Date: | 2010-04-16 |
Document(s): |
|
British Columbia Securities Commission
BC Instrument 43-501
The British Columbia Securities Commission, having considered that to do so would not be prejudicial to the public interest, orders that the attached BC Instrument 43-501 entitled "Exemption from certificate requirement for foreign underwriters" is made.
October 18, 2006
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, s. 76
Other (specify)
BC Instrument 43-501
Exemption from certificate requirement for foreign underwriters
Order Under Section 76 of the Securities Act
Interpretation
1. In this instrument:
"Canadian underwriter" means a person qualified under the laws of a jurisdiction of Canada to act as an underwriter;
"foreign jurisdiction" means the United Kingdom or the United States;
"offering" means a public offering of securities made concurrently in Canada and a foreign jurisdiction;
"foreign underwriter" means a person qualified under the laws of a foreign jurisdiction to act as an underwriter.
2. Terms defined in the Securities Act or the Securities Rules have the same meanings in this Instrument.
Exemption
3. Section 69(1) of the Act does not apply to a foreign underwriter of an offering if
(a) there is a Canadian underwriter of the offering,
(b) all sales to Canadian residents under the offering are made through Canadian underwriters, and
(c) the prospectus contains certificates of each Canadian underwriter of the offering in compliance with section 69(1) of the Act.