Securities Law

91-503 - Contracts Providing For Physical Delivery of Commodities [BCI - Rescinded]

Published Date: 1999-11-26
Effective Date: 1999-11-24
Rescinded Date: 2020-03-27
Document(s):
The British Columbia Securities Commission, having considered that to do so would not be prejudicial to the public interest, orders that Blanket Order 91-503 (BC) entitled "Contracts Providing For Physical Delivery Of Commodities" is issued as set out in the attached Schedule.

DATED at Vancouver, British Columbia, on November 24, 1999.

Douglas M. Hyndman
Chair

(This part for administrative purposes only and is not part of the Order)
 
Authority under which Order is made:
Act and sections:- Securities Act, section 3.1
Other (specify):-


SCHEDULE
BLANKET ORDER 91-503 (BC)

CONTRACTS PROVIDING FOR PHYSICAL DELIVERY OF COMMODITIES

Order Under Section 3.1

PART 1 EXEMPTION ORDER

For the purposes of the Act and the regulations, a contract that

(a) is not an exchange contract,

(b) contains an obligation to make or take future physical delivery of a commodity, and

(c) does not allow for cash settlement in place of physical delivery

is not a futures contract, provided that the contract is not otherwise a security under the Act.

PART 2 EFFECTIVE DATE

This Blanket Order comes into effect on November 24, 1999.