Securities Act

(b) securities that are not debt securities and that carry a residual right to participate in the earnings of the issuer or, on the liquidation or winding up of the issuer, in its assets;

(b) is an issuer all of whose issued and outstanding securities that are designated securities

(B) one or more agreements between the issuer and the holders of its designated securities, and

(ii) are beneficially owned, directly or indirectly, by not more than 50 persons, counting any 2 or more joint registered owners as one beneficial owner, exclusive of persons

(B) that beneficially owned, directly or indirectly, designated securities of the issuer while employed by it or by an affiliate of it and, at all times since ceasing to be so employed, have continued to beneficially own, directly or indirectly, at least one designated security of the issuer, and

(c) has not distributed to the public after October 31, 1989 any of its designated securities or any securities convertible into or exchangeable for its designated securities;

Section 1(1)(b)(ii) of the definition of "investor relations activities" BEFORE amended by 2003-24-1(a) effective April 10, 2003 (Royal Assent).

(ii) the bylaws, rules or other regulatory instruments of a self regulatory body or exchange,

Section 4(1) BEFORE amended by 2003-47-61 effective February 13, 2004 (BC Reg 45/04).

(1) The British Columbia Securities Commission is continued under that name, and is constituted as a corporation consisting of its members appointed under subsection (3).

Section 4(3), (5) and (8) BEFORE repealed by 2003-47-61 effective February 13, 2004 (BC Reg 45/04).

(3) The commission consists of not more than 11 members appointed by the Lieutenant Governor in Council.

(5) The Lieutenant Governor in Council must designate one member of the commission to be chair and chief executive officer of the commission and may designate vice chairs of the commission from among its members.

(8) When the chair is absent or incapable of acting, the powers and duties of the chair must be exercised and performed by

Section 5(3) BEFORE amended by 2003-70-270 effective March 29, 2004 (BC Reg 64/04).

(3) The Company Act does not apply to the commission, but the Lieutenant Governor in Council may order that one or more of the provisions of that Act apply.

Section 14 BEFORE amended by 2003-54-27, Sch A effective April 1, 2004 (BC Reg 11/04).

14 In this Part, "Minister of Finance and Corporate Relations" has the same meaning as in the Financial Administration Act.

Section 15(3) BEFORE amended by 2003-24-2 effective April 10, 2003 (Royal Assent).

(3) Money received by the commission as revenue from administrative penalties under section 162 of this Act may be expended only for the purpose of promoting knowledge of participants in the securities market of the legal, regulatory and ethical standards that govern the operation of the securities market in British Columbia.

Section 15(4) BEFORE amended by 2003-54-27, Sch A effective April 1, 2004 (BC Reg 11/04).

(4) At the request of the commission, but subject to approval of the Treasury Board, the Minister of Finance and Corporate Relations may pay to the commission out of the consolidated revenue fund amounts not exceeding $5.5 million over the period ending March 31, 1998.

Section 17 BEFORE amended by 2003-54-27, Sch A effective April 1, 2004 (BC Reg 11/04).

17 The Minister of Finance and Corporate Relations is the fiscal agent of the commission.

Section 18 BEFORE amended by 2003-54-27, Sch A effective April 1, 2004 (BC Reg 11/04).

18 (1) The commission must place with the Minister of Finance and Corporate Relations, for investment, any money the commission receives but does not immediately require for carrying out the purposes of this Act.

(2) Money placed with the Minister of Finance and Corporate Relations under this section is to be treated for all purposes as money placed with that minister under section 40 (5) of the Financial Administration Act.

Section 19 BEFORE amended by 2003-54-27, Sch A effective April 1, 2004 (BC Reg 11/04).

19 Subject to the approval of the Lieutenant Governor in Council and the Minister of Finance and Corporate Relations, the commission, for the purpose of carrying out any power, right, function or duty conferred or imposed on the commission under this or any other Act, may borrow the sums of money the commission considers necessary or advisable.

Section 20(1), (2) and (3) BEFORE amended by 2003-54-27, Sch A effective April 1, 2004 (BC Reg 11/04).

(1) The commission must establish and maintain accounting policies and systems satisfactory to the Minister of Finance and Corporate Relations.

(2) Whenever required by the Minister of Finance and Corporate Relations, the commission must render detailed accounts of the commission's revenues and expenditures for the period or to the day the Minister of Finance and Corporate Relations designates.

(3) All books or records of account and other financial records must at all times be open for inspection by the Minister of Finance and Corporate Relations or a person designated by that minister.

Section 22(3)(b) BEFORE amended by 2003-54-27, Sch A effective April 1, 2004 (BC Reg 11/04).

(b) a financial statement in the form required by the Minister of Finance and Corporate Relations showing the revenues, expenditures, assets and liabilities of the commission for the fiscal year of the report, and

References to self regulatory body or exchange

23 A reference in sections 26 to 32 to a self regulatory body or an exchange is a reference to a self regulatory body or an exchange, as the case may be, that has been recognized by the commission under section 24.

Recognition of self regulatory bodies and exchanges

24 (1) On the application of an association representing registrants, the commission may recognize the applicant as a self regulatory body.

(2) On application, the commission may recognize a person as an exchange in British Columbia.

25 A person must not carry on business as an exchange in British Columbia unless the person is recognized by the commission under section 24 (2).

Section 25.1(1)(b) BEFORE amended by 2002-32-7 effective May 9, 2002 (Royal Assent).

(b) the person must not carry on business as a quotation and trade reporting system, or facilitate transactions of securities or exchange contracts, unless the person is recognized by the commission under section 24 (2).

Section 26(1) and (2) BEFORE amended by 2002-32-8(a) and (b) effective May 9, 2002 (Royal Assent).

(1) Subject to this Act, the regulations and any decision made by the commission, every self regulatory body and every exchange must regulate the standards of practice and business conduct of its members.

(2) A self regulatory body or exchange must provide to the commission or to the executive director, at the request of the commission or the executive director,

Section 26(2)(b) BEFORE amended by 2002-32-8(c) effective May 9, 2002 (Royal Assent).

(b) any information or record in the possession of the self regulatory body or exchange relating to

Section 26(2)(b)(v) and (vi) BEFORE amended by 2002-32-8(d) and (e) effective May 9, 2002 (Royal Assent).

(vi) the charter, as defined in section 1 of the Financial Institutions Act, of the self regulatory body or exchange, or

Section 27(1)(a) and (b) BEFORE amended by 2002-32-9(a) effective May 9, 2002 (Royal Assent).

(a) a bylaw, rule or other regulatory instrument or policy, or a direction, decision, order or ruling made under a bylaw, rule or other regulatory instrument or policy, of a self regulatory body or exchange;

Section 27(1)(d) BEFORE amended by 2002-32-9(b) effective May 9, 2002 (Royal Assent).

(d) the trading of securities or exchange contracts on or through the facilities of an exchange;

Section 27(1)(f) and (g) BEFORE amended by 2002-32-9(c) effective May 9, 2002 (Royal Assent).

(g) issuers, whose securities are listed and posted for trading on an exchange, to ensure that they comply with this Act and the regulations.

Section 28(1) BEFORE amended by 2002-32-10(a) effective May 9, 2002 (Royal Assent).

(1) The executive director or a person directly affected by a direction, decision, order or ruling made under a bylaw, rule or other regulatory instrument or policy of a self regulatory body or of an exchange may apply by notice to the commission for a hearing and review of the matter under Part 19, and section 165 (3) to (5) applies.

Section 28(2)(b) BEFORE amended by 2002-32-10(b) effective May 9, 2002 (Royal Assent).

Section 28(3)(a) BEFORE amended by 2002-32-10(b) effective May 9, 2002 (Royal Assent).

Section 29(1) BEFORE amended by 2002-32-11(a) effective May 9, 2002 (Royal Assent).

(1) The executive director may appoint in writing a person to review the business and conduct of a self regulatory body or exchange for the purpose of determining whether the self regulatory body or exchange is

(iii) the charter, as defined in section 1 of the Financial Institutions Act, of the self regulatory body or exchange, or

(b) enforcing or administering its bylaws, rules, other regulatory instruments or policies.

Section 29(2)(a) BEFORE amended by 2002-32-11(b) effective May 9, 2002 (Royal Assent).

(a) enter the business premises of a self regulatory body or exchange, during business hours,

Section 29(2)(c) BEFORE amended by 2002-32-11(c) effective May 9, 2002 (Royal Assent).

Section 29(2)(e) BEFORE amended by 2002-32-11(d) effective May 9, 2002 (Royal Assent).

(e) make inquiries of the self regulatory body or exchange, or persons employed by the self regulatory body or exchange, concerning the operations and procedures of the self regulatory body or exchange.

Section 29(3)(a) BEFORE amended by 2002-32-11(d) effective May 9, 2002 (Royal Assent).

(a) carry out the copying at the business premises of the self regulatory body or exchange, or

Section 29(5) BEFORE amended by 2002-32-11(e) effective May 9, 2002 (Royal Assent).

(5) The executive director may require a self regulatory body or exchange that is the subject of a review under this section to pay prescribed fees or prescribed charges for the costs of the review.

Section 30(1) and (2) BEFORE amended by 2002-32-12 effective May 9, 2002 (Royal Assent).

(1) An exchange must keep a record showing the time and date when each transaction on the exchange was recorded.

(2) If a client of a member of an exchange produces to the exchange a written confirmation of a transaction between the client and the member, the exchange must supply to the client

Section 31(1) BEFORE amended by 2002-32-13 effective May 9, 2002 (Royal Assent).

Section 33(1)(a) and (b) BEFORE amended by 2002-32-14 effective May 9, 2002 (Royal Assent).

Section 34(3) BEFORE repealed by 2002-32-15 effective May 9, 2002 (Royal Assent).

until the person has received written confirmation of the registration from the executive director.

Section 38(a) BEFORE repealed by 2002-32-16(a) effective May 9, 2002 (Royal Assent).

(a) within a specified time, further information or records to be submitted by an applicant,

Section 38(c) BEFORE (c)(iv) was added by 2002-32-16(b) effective May 9, 2002 (Royal Assent).

(ii) a partner, officer, director, governor or trustee of, or any person performing a similar function for, the applicant, or

Section 39(1)(c) BEFORE amended by 2003-24-3 effective April 10, 2003 (Royal Assent).

(c) the bylaws, rules, other regulatory instruments or policies of the self regulatory body or exchange, if any, of which the registrant is a member.

Section 41(2) and (3) were added by 2002-32-17 effective May 9, 2002 (Royal Assent).

Section 42 BEFORE repealed by 2002-32-18 effective February 21, 2003 (BC Reg 64/03).

Notice of change

42 (1) Subject to the regulations, a registered dealer must immediately file in the required form a notice of any of the following:

(a) the opening or closing of a branch office, in British Columbia, of the dealer;

(b) a change in the partners, directors or officers of the dealer and, in the case of termination of employment or of office by any means, the reason for termination;

(c) commencement or termination of the employment of a registered salesperson and, in the case of termination of employment by any means, the reason for termination;

(iv) the name and address of the person in charge of any branch office, in British Columbia, of the dealer, or

(v) the name of the dealer or the name of any partner, director or officer of the dealer;

(i) a charge or indictment against, or a conviction of, the dealer or a partner, director or officer of the dealer for an offence under the law,

(ii) a finding, made against the dealer or a partner, director or officer of the dealer in a civil proceeding, of fraud, theft, deceit, misrepresentation or similar conduct,

(iii) bankruptcy of the dealer or a partner, director or officer of the dealer, or

(iv) the appointment of a receiver or receiver manager to hold the assets of the dealer or a partner, director or officer of the dealer.

(2) Subject to the regulations, a registered adviser or a registered underwriter must immediately file in the required form a notice of any of the following:

(a) a change in the partners, directors or officers of the adviser or underwriter and, in the case of termination of employment or of office by any means, the reason for termination;

(b) commencement or termination of the employment of a registered advising employee and, in the case of termination of employment by any means, the reason for termination;

(iii) the holders of any of the voting securities issued by the adviser or underwriter, or

(iv) the name of the adviser or underwriter or the name of any partner, director or officer of the adviser or underwriter;

(i) a charge or indictment against, or a conviction of, the adviser or underwriter or a partner, director or officer of the adviser or underwriter for an offence under the law,

(ii) a finding, made against the adviser or underwriter or a partner, director or officer of the adviser or underwriter in a civil proceeding, of fraud, theft, deceit, misrepresentation or similar conduct,

(iii) bankruptcy of the adviser or underwriter or a partner, director or officer of the adviser or underwriter, or

(iv) the appointment of a receiver or receiver manager to hold the assets of the adviser or underwriter or a partner, director or officer of the adviser or underwriter.

(3) Subject to the regulations, a registered salesperson or a registered advising employee must immediately file in the required form a notice of any of the following:

(i) the address for service in British Columbia of the salesperson or advising employee,

(iii) the employment of the salesperson by a registered dealer or of the advising employee by a registered adviser, or

(i) a charge or indictment against, or a conviction of, the salesperson or advising employee for an offence under the law,

(ii) a finding, made against the salesperson or advising employee in a civil proceeding, of fraud, theft, deceit, misrepresentation or similar conduct,

(iv) the appointment of a receiver or receiver manager to hold the assets of the salesperson or advising employee.

(4) The executive director may require the person giving notice under this section to apply for an amendment of the person's registration.

(5) If the executive director considers that it is not prejudicial to the public interest, the executive director may exempt a registrant that is a reporting issuer from subsection (1) (d) (iii) or (2) (c) (iii).

(b) if the registrant is a dealer, underwriter or adviser, promptly apply for a replacement certificate for each individual registered to act on the registrant's behalf.

Section 45(2)(2) BEFORE repealed by 2002-32-19(a) effective May 9, 2002 (Royal Assent).

(2) a trade where the person purchasing as principal, but not as underwriter, is

(iv) a subsidiary of a person referred to in subparagraphs (i) to (iii) if that person owns beneficially all of the voting securities of the subsidiary, except the voting securities required by law to be owned by directors of that subsidiary,

Section 45(2)(9) BEFORE amended by 2002-32-19(c) effective May 9, 2002 (Royal Assent).

(i) an issuer (in this paragraph called the "first issuer") that is exchanged by or for the account of the first issuer with one or more of

(B) one or more other issuers (in this paragraph called the "other issuers"), and

(ii) the first issuer by a holder of that security to one or more of the first issuer and the other issuers, or

(iii) any of the other issuers by the holder of that security to one or more of the first issuer and the other issuers

(iv) an information circular in the required form, proxy statement or similar disclosure record in respect of the amalgamation, merger, reorganization or arrangement is prepared and delivered to each of the security holders whose approval of the amalgamation, merger, reorganization or arrangement is required before it can proceed, and

(v) the amalgamation, merger, reorganization or arrangement is approved by the security holders referred to in subparagraph (iv);

Section 45(2)(22) BEFORE amended by 2002-32-19(d) effective May 9, 2002 (Royal Assent).

(22) a trade in a security of a mutual fund to a purchaser, other than the initial trade in a security of the mutual fund to that purchaser, if

(i) the initial trade in a security of the mutual fund to that purchaser was made under the exemption described in paragraph (5), and

(ii) either the net asset value or the aggregate acquisition cost, whichever is applicable, of the securities in the mutual fund held by the purchaser as at the date of the trade is not less than a prescribed amount;

Section 45(2)(1)(iv) and (2)(12)(ii) BEFORE amended by 2003-70-271 effective March 29, 2004 (BC Reg 64/04).

(iv) a receiver, receiver manager or a liquidator under the Company Act, the Law and Equity Act, the Personal Property Security Act, the Business Corporations Act (Canada), the Winding-up Act (Canada) or this Act,

(ii) that is distributed by it to its security holders under a dissolution or winding up of the issuer, or

Section 46(h) BEFORE amended by 1999-28-227 effective January 31, 2001 (BC Reg 347/00).

[Note: 1999-28-227 was amended by 2000-5-46 effective June 12, 2000 (Royal Assent).]

(h) securities issued by an association to which the Cooperative Association Act applies;

Section 46(j) BEFORE amended by 2002-32-20 effective May 9, 2002 (Royal Assent).

(j) securities of a private issuer if the securities are not offered for sale to the public;

Section 50(1)(e) was added by 2002-32-21(a) effective May 9, 2002 (Royal Assent).

Section 50(3)(d) was added by 2002-32-21(b) effective May 9, 2002 (Royal Assent).

Section 58(1)(a) BEFORE amended by 2002-32-22 effective May 9, 2002 (Royal Assent).

Section 74(2)(1) BEFORE repealed by 2002-32-23(a) effective May 9, 2002 (Royal Assent).

(iv) a subsidiary of a person referred to in subparagraphs (i) to (iii), if that person owns beneficially all of the voting securities of the subsidiary, except the voting securities required by law to be owned by directors of that subsidiary,

Section 74(2)(8) BEFORE amended by 2002-32-23(c) effective May 9, 2002 (Royal Assent).

(i) an issuer (in this paragraph called the "first issuer") that is exchanged by or for the account of the first issuer with one or more of

(B) one or more other issuers (in this paragraph called the "other issuers"), and

(ii) the first issuer by a holder of that security to one or more of the first issuer and the other issuers, or

(iii) any of the other issuers by the holder of that security to one or more of the first issuer and the other issuers

(v) the amalgamation, merger, reorganization or arrangement is approved by the security holders referred to in subparagraph (iv);

Section 74(2)(19) BEFORE amended by 2002-32-23(d) effective May 9, 2002 (Royal Assent).

(19) the trade is in a security of a mutual fund to a purchaser, other than the initial trade in a security of the mutual fund to that purchaser, if

(i) the initial trade in a security of the mutual fund to that purchaser was made under the exemption described in paragraph (4), and

Section 74(2)(11)(ii) BEFORE amended by 2003-70-272 effective March 29, 2004 (BC Reg 64/04).

(ii) that is distributed by it to its security holders under a dissolution or winding up of the issuer, or

Section 86(1) BEFORE amended by 2003-24-7 effective February 28, 2004 (BC Reg 72/04).

(b) knows of a material fact or material change with respect to that reporting issuer, which material fact or material change has not been generally disclosed,

(d) a put, a call, an option or another right or obligation to purchase or sell securities of the reporting issuer, or

(e) a security, the market price of which varies materially with the market price of any securities of the reporting issuer.

Section 87(2) BEFORE amended by 1998-7-26(a) effective November 13, 2001 (BC Reg 207/01).

(2) A person who is an insider of a reporting issuer must, within 10 days of becoming an insider, file an insider report in the required form effective the date on which the person became an insider, disclosing any direct or indirect beneficial ownership of, or control or direction over, securities of the reporting issuer.

Section 87(4) BEFORE amended by 1998-7-26(b) effective November 13, 2001 (BC Reg 207/01).

(a) a person has filed or is required to file an insider report under subsection (2) or under a former enactment, and

(b) the person's direct or indirect beneficial ownership of, or control or direction over, securities of the reporting issuer changes from that shown or required to be shown in the latest insider report filed by the person,

the person must, within 10 days after the end of the month in which the change takes place, file an insider report in the required form disclosing

(c) the person's direct or indirect beneficial ownership of, or control or direction over, securities of the reporting issuer at the end of that month, and

(d) the change or changes in the person's ownership in securities of the reporting issuer that occurred during the month,

so long as the person was an insider of the reporting issuer at any time during that month.

Section 87(5) BEFORE amended by 1998-7-26(c) effective November 13, 2001 (BC Reg 207/01).

then, within 10 days after the date on which that deeming occurs, the director or senior officer must file the insider reports referred to in subsections (2) and (4), for the period for which the director or senior officer is deemed to have been an insider.

Section 87 BEFORE re-enacted by 2003-24-8 effective February 28, 2004 (BC Reg 72/04).

Insider reports

(2) A person who is an insider of a reporting issuer must, within a prescribed period of time after becoming an insider, file an insider report in the required form effective the date on which the person became an insider, disclosing any direct or indirect beneficial ownership of, or control or direction over, securities of the reporting issuer.

(3) If a person who is an insider of a reporting issuer does not have any direct or indirect beneficial ownership of, or control or direction over, securities of the reporting issuer, the person is not required to file a report under subsection (2) merely to state that fact.

(4) If, while a person is an insider of a reporting issuer, the person’s direct or indirect beneficial ownership of, or control or direction over, securities of the reporting issuer changes from that shown or required to be shown in the latest insider report filed by the person, the person must, within the prescribed period after the change takes place, file an insider report in the required form disclosing

(a) the person’s direct or indirect beneficial ownership of, or control or direction over, securities of the reporting issuer, and

(b) the change in the person’s direct or indirect beneficial ownership of, or control or direction over, securities of the reporting issuer.

(a) of an issuer is deemed under section 2 (2) to have been an insider of a reporting issuer, or

(b) of a reporting issuer is deemed under section 2 (3) to have been an insider of another reporting issuer,

then, within a prescribed period of time after the date on which that deeming occurs, the director or senior officer must file the insider reports referred to in subsections (2) and (4), for the period for which the director or senior officer is deemed to have been an insider.

(b) a security or class of securities, including a put, call option or other right or obligation to purchase or sell securities of a reporting issuer, must be reported as prescribed in the regulations.

Personal information form

90 The commission or the executive director may require the directors, officers, promoters or control persons of an issuer or a class of issuers, within the time the commission or executive director specifies, to file personal information in the required form.

Section 105(d), (j), (k) and (l) BEFORE amended by 1998-7-27 effective March 31, 2001 (BC Reg 31/01).

(d) Withdrawal. — Securities deposited pursuant to the bid may be withdrawn by or on behalf of a depositing security holder,

(i) at any time before the expiration of the prescribed period from the date of the bid,

(ii) at any time before the expiration of the prescribed period from the date of a notice of change or variation under section 108, and

(iii) if the securities have not been taken up and paid for by the offeror, after the expiry of the prescribed period;

(j) Further regarding when securities must be taken up and paid for. — Any securities that are taken up by the offeror under the bid must be paid for by the offeror as soon as possible, and in any event not more than 3 days, after the taking up of the securities;

(k) Further regarding when securities must be taken up and paid for. — Any securities deposited pursuant to the bid subsequent to the date on which the offeror first takes up securities deposited under the bid must be taken up and paid for by the offeror within 10 days of the deposit of the securities;

(l) Extension restricted. — A bid may not be extended by the offeror, if all the terms and conditions of the bid have been complied with except those waived by the offeror, unless the offeror first takes up and pays for all securities deposited under the bid and not withdrawn;

Section 105(1.1) was added by 1998-7-27 effective March 31, 2001 (BC Reg 31/01).

Section 110 BEFORE amended by 1998-7-28 effective March 31, 2001 (BC Reg 31/01).

Delivery to offeree issuer

110 (1) A take over bid and any notice of change or variation must be filed and must be delivered to the offeree issuer at the principal office of the offeree issuer and an issuer bid and any notice of change or variation must be filed on the day such bid or notice is delivered to holders of securities of the offeree issuer, or as soon as practicable after that.

(2) Every directors' circular and every individual director's or officer's circular or any notice of change in relation to it that is delivered to security holders of an offeree issuer must be filed and must be delivered to the offeror at the principal office of the offeror on the day the directors' circular or individual director's or officer's circular or the notice of change is delivered to the holders of securities of the offeree issuer, or as soon as practicable after that.

(3) A take over bid or issuer bid, a take over bid circular, an issuer bid circular, a directors' circular, an individual director's or officer's circular and every notice of change or variation in any such bid or circular must be

(b) delivered to the intended recipient by personal delivery or in such other manner as the executive director may approve.

(4) Any bid, circular or notice mailed or delivered in accordance with subsection (3) is deemed to have been delivered and is deemed conclusively for the purposes of sections 105, 108 and 109 and this section to have been dated as of the date on which it was mailed or delivered in accordance with subsection (3) to all or substantially all of the persons entitled to receive it.

Section 132.1 was added by 2002-32-25 effective September 20, 2002 (BC Reg 260/02).

Section 135.1 was added by 2002-32-26 effective September 20, 2002 (BC Reg 260/02).

Section 138.1 was added by 2002-32-27 effective September 20, 2002 (BC Reg 260/02).

Section 143(2)(a)(ii) and (iii) BEFORE amended by 2002-32-28 effective May 9, 2002 (Royal Assent).

Section 151(2)(b)(ii) BEFORE amended by 2003-70-273 effective March 29, 2004 (BC Reg 64/04).

(ii) to hold all funds, securities, exchange contracts or other property of clients or others in the person's possession or control in trust for an interim receiver, custodian, trustee, receiver manager, receiver or liquidator appointed under the Bankruptcy Act (Canada), the Company Act, the Law and Equity Act, the Personal Property Security Act, the Winding-up Act (Canada), the Supreme Court Act or this Act.

Section 153(1)(a)(ii) BEFORE amended by 2003-24-12 effective April 10, 2003 (Royal Assent).

Exchange of information

154 If the commission considers this would not be prejudicial to the public interest, it may authorize disclosure of facts, information and records obtained under this Part to any body empowered by the laws of another jurisdiction to administer or regulate trading in securities or exchange contracts in that jurisdiction.

Section 155(1)(b) BEFORE amended by 2003-24-13(a) effective April 10, 2003 (Royal Assent).

(b) contravenes any of section 29 (6), 34, 39 (6), 49 to 57, 57.1, 58, 59, 61, 70 (1), 85 to 87, 100 to 112, 117 (1) and (2), 121, 122, 124, 125, 127, 128, 143 (7), 148, 153 (3) or 168.1 (1) of this Act;

Section 155(1)(b) BEFORE amended by 2003-24-13(c) effective February 28, 2004 (BC Reg 72/04).

(b) contravenes any of section 29 (6), 34, 39 (6), 49 to 57, 57.1, 58, 59, 61, 70 (1), 85, 86, 87, 100 to 112, 117 (1) and (2), 121, 122, 124, 125, 127, 128, 143 (7), 148, 153 (3) or 168.1 (1) of this Act;

Section 155(5) BEFORE amended by 2002-32-31(a) effective May 9, 2002 (Royal Assent).

(5) Despite subsection (2), if a person has contravened section 86 (1), the fine to which that person is liable is

(a) not less than any profit made by that person because of the contravention of section 86 (1), and

(ii) an amount equal to triple any profit made by that person because of the contravention of section 86 (1).

Section 161(1)(a)(iii) BEFORE amended by 2003-24-14 effective April 10, 2003 (Royal Assent).

(iii) a bylaw, rule, or other regulatory instrument or policy or a direction, decision, order or ruling made under a bylaw, rule or other regulatory instrument or policy of a self regulatory body or exchange, as the case may be, that has been recognized by the commission under section 24;

Administrative penalty

(ii) a decision, whether or not the decision has been filed under section 163, and

the commission may order the person to pay the commission an administrative penalty of not more than $100 000.

Section 165(8) BEFORE amended by 2002-32-34 effective May 9, 2002 (Royal Assent).

(8) A self regulatory body or exchange is a party to a hearing and review under this section of its decision.

Section 167(5) BEFORE amended by 2003-24-15 effective April 10, 2003 (Royal Assent).

Section 169(4) BEFORE amended by 2002-32-35 effective May 9, 2002 (Royal Assent).

(4) The commission may hold in confidence a record or any class of record required to be filed under this Act or the regulations so long as it considers that

(a) an application for registration or renewal or reinstatement of registration is abandoned, or

the executive director may, on application of an affected person, refund the fee or part of the fee paid in accordance with section 16 of the Financial Administration Act.

Section 183(1) and (2) BEFORE amended by 2002-32-39(a) effective May 9, 2002 (Royal Assent).

(1) regulating the listing and trading of securities, and the trading of exchange contracts, on an exchange recognized by the commission under section 24 (2);

(2) regulating the trading of securities and exchange contracts other than on an exchange recognized by the commission under section 24 (2);

Section 183(6)(vii) was added by 2003-24-16 effective April 10, 2003 (Royal Assent).

Section 183(32) BEFORE amended by 2002-32-39(b) effective May 9, 2002 (Royal Assent).

(32) incorporating by reference and adopting codes and standards as they are amended from time to time before or after the making of the regulations;

Section 183(36) BEFORE amended by 2002-32-39(c) effective May 9, 2002 (Royal Assent).

(36) authorizing the commission to recognize an exchange or a quotation and trade reporting system for any purpose under this Act, the regulations or the commission rules;

Section 183(36.1), (45.1), (45.2) and (45.3) were added by 2002-32-39(d) effective May 9, 2002 (Royal Assent).

Section 184(2)(c) and (d) BEFORE amended by 2002-32-40(a) and (b) effective May 9, 2002 (Royal Assent).

(c) with respect to the same matters with respect to which the Lieutenant Governor in Council may make regulations under section 183 (1), (2), (6) to (25), (30), (31), (33), (34), (36), (38), (40), (41), (44) and (45) and to the same extent;

(d) incorporating by reference and adopting codes and standards as they are amended from time to time before or after the making of the rules;

Section 184(2)(g)(i) and (ii) BEFORE amended by 2002-32-40(c) effective May 9, 2002 (Royal Assent).

(i) applications for registration or for renewal or reinstatement of registration to be made to a designated organization, and

(ii) any notification referred to in section 42 or any other thing to be delivered to the designated organization;

Section 184(4) BEFORE amended by 2002-32-41(a) and (b) effective May 9, 2002 (Royal Assent).

(4) Unless the power to do so is expressly provided to the commission under this section, the commission must not make rules under this section with respect to the matters with respect to which the Lieutenant Governor in Council may make regulations under section 183 (3) to (5), (26) to (29), (32), (35), (37), (39), (42), (43) and (46) to (52).

"Point in Time" Act Content

SECURITIES ACT [RSBC 1996] CHAPTER 418