81-506 - Exemption for mutual funds from delivering financial statements [BCI - Rescinded]
| Published Date: | 2003-01-22 |
|---|---|
| Effective Date: | 2003-01-22 |
| Rescinded Date: | 2005-06-01 |
January 22, 2003
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: SecuritiesAct, section 91(1)
Other (specify): s. 7.1 of NI 13-101
BC Instrument 81-506
Exemption for mutual funds from delivering financial statements
Order under section 91(1) of theSecurities Actand s. 7.1 of NI 13-101
Defined terms
1. In this Instrument:
“direct security holder” is a security holder in British Columbia whose mutual fund securities are held in the security holder’s name
“indirect security holder” is a security holder in British Columbia whose mutual fund securities are held in the name of another person
“indirect security holder” is a security holder in British Columbia whose mutual fund securities are held in the name of another person
Interpretation
2.Terms defined in the SecuritiesAct, the Securities Rules or National Instrument
14-101 Definitions have the same meaning in this Instrument.
Exemption from delivery requirements
3. A mutual fund in British Columbia is exempt from the requirements in section 149 of the Rules to send annual and interim financial statements to its direct security holders and indirect security holders if its manager
(a) annually sends to both its direct and indirect security holders,
(i) a notice informing them they will not receive annual or interim financial statements of the mutual fund after the date of the notice, unless they request them,
(ii) a form that they can use to request the annual or interim financial statements, and
(iii) information about where they should send their request forms,
(b) files on SEDAR, under the annual financial statements category, confirmation it complied with (a), within 90 days of sending, and(ii) a form that they can use to request the annual or interim financial statements, and
(iii) information about where they should send their request forms,
(c) within three business days of the later of
(i) filing the financial statements, or
(ii) receiving a request from a direct security holder or indirect security holder,
sends the annual or interim financial statements to the security holders who requested them.(ii) receiving a request from a direct security holder or indirect security holder,
Alternate filing
4. A mutual fund in British Columbia that is not a reporting issuer may satisfy the requirement to file confirmation it complied with 3(a) by filing in paper format.