91-502 - Short Term Foreign Exchange Transactions [BCI - Rescinded]
The British Columbia Securities Commission, having considered that to do so would not be prejudicial to the public interest, orders that Blanket Order 91-502 (BC) entitled "Short Term Foreign Exchange Transactions" is issued as set out in the attached Schedule.
DATED at Vancouver, British Columbia, on November 24, 1999.
Douglas M. Hyndman
Authority under which Order is made:
Act and sections:- Securities Act, section 3.1
SHORT TERM FOREIGN EXCHANGE TRANSACTIONS
Order Under Section 3.1
PART 1 EXEMPTION ORDER
For the purposes of the Act and the regulations, a contract or other obligation to purchase or sell the currency of any jurisdiction, where the terms of the transaction require settlement not later than three business days after the entering into of the transaction, is not a futures contract, provided that the contract or obligation is not otherwise a security under the Act.
PART 2 EFFECTIVE DATE