B.C. Reg. 267/2004, deposited June 11, 2004, pursuant to the SMALL BUSINESS VENTURE CAPITAL ACT [Section 37]. Order in Council 572/2004, approved and ordered June 10, 2004.

On the recommendation of the undersigned, the Lieutenant Governor, by and with the advice and consent of the Executive Council, orders that the Small Business Venture Capital Regulation, B.C. Reg. 390/98, is amended

(a) in section 1 (1) in paragraph (a) of the definition of "special resolution" by striking out "3/4" and substituting "1/2",

(b) in section 3.1 by adding the following paragraphs:

(d) the share transfer occurs as the result of a company share exchange right, share reorganization, acquisition or amalgamation and

(i) the eligible business corporation remains registered under section 28.2 of the Act, and

(ii) the registered owner of the share is the same

after the share transfer takes place;

(e) the share transfer occurs as the result of the exercise of a warrant, option or right entitling the holder to purchase or acquire an equity share of an eligible business corporation as defined paragraph (a) of the definition of "equity share" in section 1 of the Act and the registered owner of the equity share so purchased or acquired is the same as the registered holder of the warrant, option or right., and

(c) by repealing section 5 (2).

— J. LES, Minister of Small Business and Economic Development; G. COLLINS, Presiding Member of the Executive Council.

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