52-801 - Implementing National Instrument 52-107 Acceptable Accounting Principles, Auditing Standards and Reporting Currency [BCI- Rescinded]
| Published Date: | 2006-12-22 |
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| Effective Date: | 2006-12-29 |
| Rescinded Date: | 2009-09-28 |
| Document(s): |
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Concurrently Published:
British Columbia Securities Commission
BC Instrument 52-801 Implementing National Instrument 52-107 Acceptable Accounting Principles, Auditing Standards and Reporting Currency
The Commission, having considered that to do so would not be prejudicial to the public interest, orders that, effective December 29, 2006,
1. BC Instrument 51-507 Venture issuers traded on certain foreign markets made on March 30, 2004 and varied on February 11, 2005 is revoked,
2. BC Instrument 51-508 Exemption for interim periods in non-standard financial years made effective June 1, 2005 is revoked,
3. BC Instrument 51-801 entitled Implementing National Instrument 51-102 Continuous Disclosure Obligations and National Instrument 52-107 Acceptable Accounting Principles, Auditing Standards and Reporting Currency and made on July 24, 2006 is revoked, and
3. the attached BC Instrument 52-801 entitled Implementing National Instrument 52-107 Acceptable Accounting Principles, Auditing Standards and Reporting Currency is made.
December 21, 2006
Douglas M. Hyndman
Chair
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(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 52-801
Implementing National Instrument 52-107 Acceptable Accounting Principles, Auditing Standards and Reporting Currency
Order Under Section 171 of the Securities Act and
Section 3(8) of the Securities Rules
1. Interpretation - In this Instrument:
a) "NI 52-107" means National Instrument 52-107 Acceptable Accounting Principles, Auditing Standards and Reporting Currency; and
b) "Rules" means the Securities Rules.
2. Application - This Instrument implements NI 52-107 by providing relief from audit requirements of the Rules to reporting issuers that comply with NI 52-107.
3. GAAP and GAAS Exemption - Subsections 3(4), 3(5) and 3(6) of the Rules do not apply to a person, other than an investment fund, that complies with NI 52-107.