52-502 - Exemption From Audit Committee Review And Directors Approval Of Interim Financial Statements [BCI - Rescinded]

BRITISH COLUMBIA SECURITIES COMMISSION

BC INSTRUMENT 52-502

The British Columbia Securities Commission, having considered that to do so would not be prejudicial to the public interest, orders that:

1. the attached BC Instrument 52-502 entitled “Exemption from Audit Committee Review and Directors Approval of Interim Financial Statements” is made; and

2. BOR#96/10 is revoked.

May 30, 2001

Brent W. Aitken
Member

(This part for administrative purposes only and is not part of the Order)

Authority under which Order is made:
Act and sections:-Securities Act, section 171
Other (specify):- Securities Rules, section 3(8) 

BC INSTRUMENT 52-502 (Previously BOR#96/10)

Exemption From Audit Committee Review And Directors Approval Of Interim Financial Statements

Exemption Under Section 3(8) of the Securities Rules

Definitions

1. In this Instrument

“Act” means the Securities Act (British Columbia);

“Rules” means the British Columbia Securities Rules.

Interpretation

2. Terms  defined or interpreted in the Act or the Rules have the same meanings in this instrument.

Application

This instrument applies to all reporting issuers except for exchange issuers.

Exemption

3. Sections 3(12) and 3(13) of the Rules do not apply to interim financial statements filed under section 144 of the Rules for periods that end on or before June 30, 2001, or are part of fiscal years beginning before January 1, 2001.

Lapse date of this instrument

4. This instrument will lapse on December 31, 2001.