52-51X - Transitional Variation of Multilateral Instrument 52-110 Audit Committees [BCI Proposed - Lapsed]

Concurrently Published:

• 52-110 - Audit Committees [MI Proposed - Lapsed]
• BCN 2007/13 - Request for Comment on Proposed Multilateral Instrument 52-110 Audit Committees, Form 52-110F1 Audit Committee Information required in an AIF, Form 52-110F2 Disclosure by Venture Issuers, Companion Policy 52-110CP to Multilateral Instrument 52-110 Audit Committees and Proposed BC Instrument 52-51* Transitional Variation of Multilateral Instrument 52-110 and Repeal of BC Instrument 52-509 Audit Committees and Sections 144 and 145 of Securities Rules [BCN - Lapsed]

BC Instrument 52-51*

Transitional Variation of Multilateral Instrument 52-110
Audit Committees

Order Under Section 187 of the Securities Act

Definitions
1. In this Instrument:

(a) "BCI 52-509" means BC Instrument 52-509 Audit Committees;

(b) "MI 11-101" means Multilateral Instrument 11-101 Principal  Regulator System;

(c) "MI 52-110" means Multilateral Instrument 52-110 Audit Committees.

Interpretation
2. Terms defined in the Act, the Securities Rules, MI 52-110 and National Instrument 14-101 Definitions have the same meaning in this Instrument.

Transition
3. MI 52-110 is varied by, 

(a) replacing section 9.1(2) with the following:

(2) If an issuer is a reporting issuer in British Columbia and not in any other jurisdiction, the Instrument applies to the issuer on the earlier of:

(a) the first annual meeting after [insert date on which the commission adopts MI 52-110], and

(b) [insert date that is one year after the date set out in subsection (2)(a)].