45-529 - Bonus or finder’s fee [BCI Advance Notice - Lapsed]
| Published Date: | 2009-07-17 |
|---|---|
| Effective Date: | 2009-09-28 |
| Rescinded Date: | 2009-09-25 |
| Document(s): |
Concurrently Published:
Schedule C
British Columbia Securities Commission
DRAFT BC Instrument 45-529
The British Columbia Securities Commission, having considered that it would not be prejudicial to the public interest, orders that the attached BC Instrument 45-529 Bonus or finders fee is made, effective *, 2009.
*, 2009
Brent W. Aitken
Acting 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, sections 48, 76
Other (specify):-
BC Instrument 45-529
Bonus or finder’s fee
1. Interpretation - Terms used in this Instrument that are defined or interpreted in the Securities Act (the Act) or the Securities Rules have the meaning set out in the Act or in the Rules.
2. The dealer registration requirement in section 34(1)(a) of the Act does not apply in respect of a trade in a security made by a reporting issuer in a security of its own issue as consideration for
(a) a loan or loan guarantee, or
(b) services performed by a person, that is not an insider or an associate of an insider of the issuer, in connection with
(i) arranging a loan or loan guarantee,
(ii) the issuer acquiring or disposing of assets, other than proceeds of a distribution, or
(iii) the issuer making a distribution under an exemption from section 61 of the Act to persons not resident in British Columbia.
3. The prospectus requirement in section 61 of the Act does not apply to a distribution of a security in the circumstances referred to in section 2.
4. Resale restrictions - A trade in a security acquired under this Instrument is subject to section 2.5 of National Instrument 45-102 Resale of Securities.
5. Exempt distribution report - If an issuer distributes a security under this Instrument, the issuer must file a report in the required form on or before the 10th day after the distribution.