Securities Law

52-510 - Transitional variation of and exemption from Multilateral Instrument 52-109 Certification of Disclosure in Issuers’ Annual and Interim Filings [BCI - Rescinded]

Published Date: 2005-08-26
Effective Date: 2005-09-19
Rescinded Date: 2008-12-15

Concurrently Published:

The Commission, having considered that to do so would not be prejudicial to the public interest, orders that, effective September 19, 2005, the attached BC Instrument 52-510 Transitional variation of and exemption from Multilateral Instrument 52-109 Certification of Disclosure in Issuers’ Annual and Interim Filings is made.

August 22, 2005

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 187 
Other (specify): 


BC Instrument 52-510

Transitional Variation of and Exemption from
Multilateral Instrument 52-109
Certification of Disclosure in Issuers’ Annual and Interim Filings

Order Under Section 187 of the Securities Act

Definitions
1.         In this Instrument:

a)         “Act” means the Securities Act

b)         “MI 52-109” means Multilateral Instrument 52-109 Certification of Disclosue in Issuers’ Annual and Interim Filings; and

c)         “NI 51-102” means National Instrument 51-102 Continuous Disclosure Obligations. 

Interpretation
2.         Terms defined in the Act, the Securities Rules, MI 52-109 and National Instrument 14-101 Definitions have the same meaning in this Instrument.

Transition
3.         MI 52-109 is varied by,  

(a)       replacing section 5.2(1)(a) with the following:

If an issuer

(i)        is a reporting issuer in British Columbia and not in any other jurisdiction, the provisions of this Instrument concerning annual certificates apply to the filing of an issuer’s first AIF or annual financial statements and annual MD&A, which ever comes last, on or after December 31, 2005, and

(ii)       is a reporting issuer in British Columbia and in another other jurisdiction, the provisions of this Instrument concerning annual certificates apply to the filing of an issuer’s first AIF or annual financial statements and annual MD&A, which ever comes last, on or after September 19, 2005.

 (b)       replacing section 5.2(2)(a) with the following:

 If an issuer

 (i)        is a reporting issuer in British Columbia and not in any other jurisdiction, the provisions of this Instrument concerning interim certificates apply to an issuer’s first interim filing on or after December 31, 2005, and

(ii)       is a reporting issuer in British Columbia and in another jurisdiction, the provisions of this Instrument concerning interim certificates apply to an issuer’s first interim filing on or after September 19, 2005.

Exemption 
4.         A reporting issuer is exempt from MI 52-109 if the issuer is
 

a)         exempt from all the requirements in NI 51-102; and

b)         not required to, and does not, file its own interim filings and annual filings.

5.         If a reporting issuer relying on section 4 is required to file another issuer’s interim filings and annual filings, the issuer must also file copies of the interim certificates and annual certificates relating to the interim filings or annual filings of that issuer.