81-512 - Exemptions from National Instrument 81-104 Commodity Pools [BCI]
| Published Date: | 2008-03-10 |
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| Effective Date: | 2008-03-17 |
| Document(s): |
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Concurrently Published:
The Commission, having considered that to do so would not be prejudicial to the public interest, orders that, effective March 17, 2008, the attached BC Instrument 81-512 Exemptions from National Instrument 81-104 Commodity Pools is made.
March 10, 2008
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 187
Other (specify):
BC Instrument 81-512
Exemptions from National Instrument 81-104
Commodity Pools
Order Under Section 187 of the Securities Act
Definitions
1. In this Instrument,
(a) "NI 81-104" means National Instrument 81-104 Commodity Pools; and
(b) "regulator" means the regulator or securities regulatory authority in Alberta, Saskatchewan, Manitoba, Ontario, Québec, Nova Scotia or New Brunswick.
Interpretation
2. Terms defined in the Act, the Securities Rules, NI 81-104, and National Instrument 14-101 Definitions have the same meanings in this instrument.
Exemptions
3. A commodity pool is exempt from a provision in section 3.2 or 3.3 of NI 81-104 if:
(a) a regulator exempted the commodity pool from the provision before March 17, 2008,
(b) that exemption still applies to the commodity pool, and
(c) the commodity pool complies with any terms, conditions, restrictions or requirements imposed by the regulator as if they were imposed in British Columbia.
4. A mutual fund restricted individual is exempt from a provision in section 4.1(1) of NI 81-104 if:
(a) a regulator exempted the mutual fund restricted individual from the provision before March 17, 2008,
(b) that exemption still applies to the mutual fund restricted individual, and
(c) the mutual fund restricted individual complies with any terms, conditions, restrictions or requirements imposed by the regulator as if they were imposed in British Columbia.
5. A principal distributor or participating dealer is exempt from a provision in section 4.1(2) of NI 81-104 if:
(a) a regulator exempted the principal distributor or participating dealer from the provision before March 17, 2008,
(b) the exemption still applies to the principal distributor or participating dealer, and
(c) the principal distributor or participating dealer complies with any terms, conditions, restrictions or requirements imposed by the regulator as if they were imposed in British Columbia.