81-503 - Lapse date of Prospectuses Filed by Mutual Funds, Employee Venture Capital Corporations, and Venture Capital Corporations [BCI - Rescinded]
| Published Date: | 2003-12-24 |
|---|---|
| Effective Date: | 2003-12-24 |
1. the attached BC Instrument 81-503 entitled “Lapse Date of Prospectuses Filed by Mutual Funds, Employee Venture Capital Corporations, and Venture Capital Corporations” is made; and
2. BC Instrument 81-503 “First Renewal Prospectuses Filed by Mutual Funds under National Instrument 81-101 Mutual Fund Prospectus Disclosure”, effective March 24, 2000, is revoked.
December 24, 2003
Douglas M. Hyndman
Chair
________________________________________________________________
(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 81-503
Lapse date of Prospectuses Filed by Mutual Funds, Employee Venture Capital Corporations, and Venture Capital Corporations
Order under section 187 of theSecurities Act
Definitions
1. In this Instrument:
“employee venture capital corporation” means an employee venture capital corporation registered under Part 2 of the Employee Investment Act, RSBC 1996, c. 112 or an employee venture capital corporation registered under similar legislation in another jurisdiction.
“venture capital corporation” means a venture capital corporation registered under Part 1 of the Small Business Venture Capital Act, RSBC 1996, c. 429 whose business objective is making and managing multiple investments.
Interpretation
2. All other terms defined in the Securities Act, the Securities Rules, and NI 14-101 Definitions have the same meanings in this instrument.
Variation of lapse date
3. For a mutual fund, an employee venture capital corporation or a venture capital corporation, section 121 of the Securities Rules is varied to say that “For the purpose of section 70(2)(a) of the Act, the prescribed date is 12 months after the date of the prospectus or simplified prospectus.”
Effective date
4. This instrument is effective December 24, 2003.