45-502 - Cooperative Associations [BCI Amendment Proposed - Lapsed]
| Published Date: | 2008-02-29 |
|---|---|
| Document(s): |
Concurrently Published:
1. BC Instrument 45-502 Cooperative Associations is amended by this Instrument.
2. Section 1 "Definitions and Interpretation" is amended by adding the following definition:
"association" means an association as defined in the Cooperative Association Act;
3. Section 2 is amended by:
(a) deleting the sub heading "Conditions prescribed under section 46(h) of the Securities Act";
(b) deleting "2. The following conditions are prescribed under section 46(h) of the Securities Act" and substituting "Sections 34(a) and 61 of the Securities Act do not apply to an association for a trade in:";
(c) deleting "Membership shares";
(d) deleting "(a) an association may rely on section 46(h) of the Securities Act for a trade in membership shares of its own issue if," and substituting "(a) membership shares of its own issue if,";
(e) deleting "Investment shares";
(f) deleting "(b) an association may rely on section 46(h) of the Securities Act for a trade in a security of its own issue if," and substituting "(b) investment shares of its own issue if,";
(g) deleting "Dividends, interest and patronage returns";
(h) deleting "(c) an association may rely on section 46(h) of the Securities Act for a trade in a security of its own issue if" and substituting "(c) a security of its own issue if,";
(i) deleting paragraph (d) "a member of an association may rely on section 46(h) of the Securities Act for a trade in a security of the association if the purchaser of the security is a member and has been a member of that association" and substituting
"3. Sections 34(a) and 61 of the Securities Act do not apply to a member of an association for a trade in a security of the association if the purchaser of the security is a member and has been a member of that association."