55-503 - Interim Requirements during the Suspension of the System for Electronic Disclosure by Insiders (SEDI) [BCI - Rescinded]

BRITISH COLUMBIA SECURITIES COMMISSION

BC INSTRUMENT 55-503

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 55-503 entitled “Interim Requirements during the Suspension of the System for Electronic Disclosure by Insiders (SEDI)” is made.

February 7, 2002

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:- National Instrument 55-102, section 6.1
Other (specify):-

BC INSTRUMENT 55-503

Interim Requirements during the Suspension of the
System for Electronic Disclosure by Insiders (SEDI)

Order Under Section 6.1 of National Instrument 55-102
System for Electronic Disclosure by Insiders (SEDI)

Definitions

“interim period” means from the date of this Instrument until the SEDI operation date;

“NI 55-102” means National Instrument 55-102 System for Electronic Disclosure by Insiders (SEDI);

“SEDI operation date” means the date that the Commission confirms in a notice that SEDI is fully operational.

Interpretation

Unless the context otherwise requires, terms defined in the Securities Act, the Securities Rules or NI 55-102, have the same meanings in this Instrument.

Interim Exemption Order

1. During the interim period:

1.1 An insider of a SEDI issuer is exempt from filing an insider report in SEDI format under section 2.2 of NI 55-102, provided the insider files the insider report in paper format in accordance with Part 3 of NI 55-102;

1.2 An insider of a SEDI issuer is exempt from filing an amended insider profile under section 2.1(3)(a) of NI 55-102, provided the insider of the SEDI issuer files an amended insider profile within 10 days after the SEDI operation date;

1.3 A SEDI issuer is exempt from filing an issuer profile supplement under section 2.3(1) of NI 55-102, provided the SEDI issuer files an issuer profile supplement within 3 days after the SEDI operation date;

1.4 A SEDI issuer is exempt from filing an amended issuer profile supplement under section 2.3(3) of NI 55-102, provided the SEDI issuer files an amended profile supplement as soon as possible after the SEDI operation date;

2. A SEDI issuer is not required to file an issuer event report with respect to issuer events occurring during the interim period.

3. An insider of a SEDI issuer who relies on the temporary hardship exemption under Part 4 of NI 55-102, prior to the date of this Instrument, is exempt from section 4.1(5) of NI 55-102.