45-523 - Transition period for minimum purchase price and asset acquisition exemptions [BCI - Rescinded]
- BCN 2005/46 - Adoption of National Instrument 45-106 Prospectus and Registration Exemptions and consequential amendments [BCN - Lapsed]
The Commission, having considered that it is not prejudicial to the public interest, orders that BC Instrument 45-523 Transition period for minimum purchase price and asset acquisition exemptions is made, effective from September 14, 2005 to and including November 30, 2005.
September 8, 2005
Douglas M. Hyndman
(This part is for administrative purposes only and is not part of the Order)
Authority under which Order is made:
Act and sections: 48 and 76
BC Instrument 45-523
Transition period for minimum purchase price and asset acquisition exemptions
Order Under sections 48 and 76 of Securities Act
1. In this instrument:
“current asset acquisition exemption” means the exemption under sections 45(2)(6) and 74(2)(5) of the Act, for which the minimum fair value is currently $100,000;
“current minimum purchase price exemption” means the exemption under sections 45(2)(5) and 74(2)(4) of the Act, for which the minimum aggregate acquisition cost is currently $97,000; and
“transition period” means from the date of this Instrument until November 30, 2005.
2. During the transition period, the dealer registration and prospectus requirements in sections 34(1)(a) and 61 of the Act do not apply to a trade in, or a distribution of, a security where the trade or distribution is effected in accordance with, and complies with the requirements of, the current asset acquisition exemption or the current minimum purchase price exemption.