Securities Law

52-504 - Directors’ Review of Interim Financial Statements [BCI - Rescinded]

Published Date: 2004-03-30
Effective Date: 2004-03-30
Rescinded Date: 2005-06-01

Concurrently Published:

The British Columbia Securities Commission, having considered that to do so would not be prejudicial to the public interest, orders that, effective March 30, 2004, BC Instrument 52-504 entitled Directors Review of Interim Financial Statements and made on May 30, 2001 is revoked, and the attached BC Instrument 52-504 entitled Directors’ Review of Interim Financial Statements is made.





March 30, 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: Securities Act, section 171
Other (specify): Securities Rules, section 3(8)BC Instrument 52-504




Directors’ Review of Interim Financial Statements
Order Under Section 3(8) of theSecurities Rules

Definitions
1. In this instrument

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

“investment fund” has the meaning set out in National Instrument 51-102 Continuous Disclosure Obligations;

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

Exemption
4. Subsections 3(11) and 3(12) of the Rules do not apply to interim financial statements

(a) filed by an investment fund, or
(b) in respect of interim periods in financial years starting before January 1, 2004, filed by an issuer that is not an investment fund,

if the issuer’s board of directors, or the audit committee of the board of directors, reviews them before they are filed under section 144 of the Rules and sent to the issuer’s securityholders.