51-508 - Exemption for interim periods in non-standard financial years [BCI - Rescinded]
| Published Date: | 2004-10-22 |
|---|---|
| Effective Date: | 2004-10-22 |
| Rescinded Date: | 2005-06-01 |
October 22, 2004
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: Section 91 of the Securities Act
Other (specify): National Instrument 51-102 Continuous Disclosure Obligations,
section 13.1
BC Instrument 51-508
Exemption for interim periods in non-standard financial years
Order Under Section 91 of theSecurities Actand
Section 13.1 of National Instrument 51-102
Interpretation
1. In this instrument,
“NI 51-102” means NationalInstrument 51-102 Continuous Disclosure Obligations and
“standard year” means a financial year that has 365 days, or 366 days if it includes February 29.
“standard year” means a financial year that has 365 days, or 366 days if it includes February 29.
2. Terms defined in the SecuritiesAct, the Securities Rules or NI 51-102 have the same meaning in this instrument.
Exemption
3. The requirement in section 144 of the Securities Rules and in NI 51-102 that a reporting issuer file financial statements for its interim periods ending nine, six and three months before the end of its financial year, does not apply to a reporting issuer if
(a) either
(i) the issuer’s financial year is not a transition year or a standard year, or
(ii) the issuer’s financial year is a transition year, and its following financial year will not be a standard year,
(i) the issuer’s financial year is not a transition year or a standard year, or
(ii) the issuer’s financial year is a transition year, and its following financial year will not be a standard year,
(b) the issuer files interim financial statements for periods ending within 7 days of an interim period, and
(c) the issuer otherwise complies with the requirements relating to interim financial statements in the Securities Rules or NI 51-102.