53-501 - Relief respecting the requirement to send financial statements and quarterly reports to securityholders [BCI - Rescinded]

The British Columbia Securities Commission, having considered that to do so would not be prejudicial to the public interest, orders that the attached BC Instrument 53-501 entitled “Relief respecting the requirement to send financial statements and quarterly reports to securityholders” is made.

August 27, 2003

Joyce C. Maykut, Q.C.
Vice 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: section 91(2)
Other (specify):

BC Instrument 53-501

Relief respecting the requirement to send financial statements and quarterly reports to securityholders

Order under section 91(2) of the Securities Act

Interpretation
1. Terms defined in the Securities Act, the Securities Rules or National Instrument 14-101 Definitions have the same meaning in this Instrument.

Relief from concurrent delivery requirement
2. A reporting issuer or a mutual fund in British Columbia (the issuer) is exempt from the concurrent delivery requirement in section 149 of the Securities Rules for interim financial statements and the quarterly report for the interim periods ended June 30, 2003, provided that:

(a) the issuer has complied with the filing requirements of sections 144 and 152 of the Rules, as applicable;

(b) the issuer is unable to obtain printed copies for delivery because of the power shortages in eastern Canada that started August 14, 2003; and

(c)  the issuer:

(i) sends the financial statements and, if applicable, the quarterly report to each holder in British Columbia of its securities, other than holders of debt instruments; and
(ii) files written confirmation of compliance with paragraph (i)

as soon as practicable and, in any event, not later than September 15, 2003.