52-505 - Exemption from the Requirement to Send Interim Financial Statements and Quarterly Reports to Security Holders of a Reporting Issuer [BCI - Rescinded]
| Published Date: | 2001-06-20 |
|---|---|
| Effective Date: | 2001-06-30 |
| Rescinded Date: | 2002-07-01 |
The British Columbia Securities Commission, having considered that to do so would not be prejudicial to the public interest, orders, effective June 30, 2001, that:
1. the attached BC Instrument 52-505 entitled "Exemption from the Requirement to Send Interim Financial Statements and Quarterly Reports to Security Holders of a Reporting Issuer" is made; and
2. BOR 96/3 is revoked.
June 19, 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 91
Other (specify):-
BC INSTRUMENT 52-505
Exemption from the Requirement to Send Interim Financial Statements and Quarterly Reports to Security Holders of a Reporting Issuer
Order Under Section 91 of the Securities Act
Defined terms
1. Terms used in this Instrument that are defined or interpreted in the Securities Act or Securities Rules should be read in accordance with the Securities Act or Securities Rules.
Exemption
2. A reporting issuer is not required to send its interim financial statements filed under section 144 of the Rules to its security holders under section 149 of the Rules, on condition that
2.1 the issuer complies with all the requirements of National Policy Statement 41 Shareholder Communication ('the policy") respecting interim financial statements, provided that if the issuer does not hold an annual meeting, the issuer has sent a return card to each registered holder of its securities with its most recent annual financial statements prepared in accordance with section 145 of the Rules; and
2.2 the issuer concurrently files written confirmation that it has sent the interim financial statement to each registered and non-registered holder of its securities on the supplemental mailing list maintained in accordance with the policy.
3. An exchange issuer is not required to send its quarterly report for an issuer's first, second or third quarter filed under section 152 of the Rules to its security holders under section 149 of the Rules, on condition that
3.1 the issuer complies with the requirement set out in sub-paragraphs 1(a) and 1(b); and
3.2 the issuer concurrently files written confirmation that it has sent the quarterly report to each registered and non-registered holder of its securities on the supplemental mailing list maintained in accordance with the policy.