45-515 - Resale of Rights [BCI - Rescinded]
| Published Date: | 2001-07-20 |
|---|---|
| Effective Date: | 2001-07-25 |
| Rescinded Date: | 2009-09-28 |
1. the attached BC Instrument 45-515 entitled “Resale of Rights” is made; and
2. BOR#91/5 is revoked.
July 18, 2001
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, section 76
Other (specify):-
BC INSTRUMENT 45-515 (Previously BOR#91/5)
Resale of Rights
Order under Section 76 of theSecurities Act
Interpretation
1. Terms used in this Instrument that are defined or interpreted in the Securities Act (the Act) or Securities Rules (the Rules) have the meaning set out in the Act or the Rules.
Exemption
2. Section 61 of the Act does not apply to a trade in a right that a seller acquires under section 74(2)(7) of the Act if:
(a) where the seller is an insider of the issuer, the issuer is not in default of any requirement of the Actor the Rules, (b) the trade is not a distribution from the holdings of a control person, (c) no unusual effort is made to prepare the market or create a demand for the security, and (d) no extraordinary commission or other consideration is paid in respect of the trade.