91-504 - Government Strip Bonds [BCI]
| Published Date: | 2001-06-01 |
|---|---|
| Effective Date: | 2001-05-30 |
| Document(s): |
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Concurrently Published:
BCN 2003/29 is replaced with BCN 2014/13
The British Columbia Securities Commission, having considered that to do so would not be prejudicial to the public interest, orders that:
1. the attached BC Instrument 91-504 entitled “Government Strip Bonds” is made; and
2. BOR#91/12 is revoked.
May 30, 2001
Brent W. Aitken
Member
________________________________________________________________
(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 sections 48 and 76
Other (specify):-
BC INSTRUMENT 91-504 (formerly BOR#91/12)
Government Strip Bonds
Order under sections 48 and 76 of theSecurities Act
Definition
1. In this instrument, “Government Strip Bonds” mean
(a) actual individual interest coupons and residues arising from the physical separation of bonds, debentures or other evidence of indebtedness issued or guaranteed by the Government of Canada or by a province of Canada or by a country or political division of a country recognized by the British Columbia Securities Commission (the “Commission”) in an order made under section 46(a)(ii) of the Act, and
(b) deposit receipts or other certificates representing an interest in certain specific instruments of the type referred to in (a) or an undivided interest in a pool of these instruments,
if the purchaser's sole entitlement is to receive a fixed amount of money at a specific future date.
2. Terms defined or interpreted in the Securities Act, Securities Regulation or Securities Rules have the same meaning in this Order.
Exemption
3. Sections 48 and 76 do not apply to a trade in or distribution of Government Strip Bonds if an information statement in the form of BC Form 91-504F (or in a form approved by the Executive Director) describing the investment attributes of Government Strip Bonds is delivered to a first-time purchaser as set out in section 4 or 5.
4. If the vendor is not registered under the Act, the vendor must provide the first-time purchaser with the information statement, and before the trade, the first-time purchaser must have acknowledged receiving the statement.
5. If the vendor is registered under the Act, the vendor must provide the first-time purchaser with the information statement no later than with the confirmation of the trade.