BCN2009/22 Adoption of BC Instrument 81-504 Transactions Between Mutual Funds and Responsible Persons Relating to Certain Debt Securities, Mortgages and Equity Securities [BCN]

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2009-22 [BCN]
Published: 2009-09-29
Effective: 2009-09-28

Concurrently Published

Document
81-504 81-504 Transactions Between Mutual Funds and Responsible Persons Relating to Certain Debt Securities, Mortgages, and Equity Securities [BCI - Rescinded]

Adoption of BC Instrument 81-504 Transactions Between Mutual Funds and Responsible Persons Relating to Certain Debt Securities, Mortgages and Equity Securities

Effective September 28, 2009, the Commission:

  • revoked old BC Instrument 81-504 Transactions Between Mutual Funds and Responsible Persons Relating to Certain Debt Securities, Mortgages and Equity Securities (old BCI 81-504) (see the Bulk Revocation Order dated September 21, 2009), and
  • adopted new BC Instrument 81-504 Transactions Between Mutual Funds and Responsible Persons Relating to Certain Debt Securities, Mortgages and Equity Securities (new BCI 81-504).

Under old BCI 81-504, section 127(1)(b) of the Securities Act (Act) did not apply in certain circumstances. However, effective September 28, 2009, section 127 is repealed. New BCI 81-504 replaces the reference to section 127(1)(b) of the Act with the equivalent provision in section 13.5(2)(b) of NI 31-103 Registration Requirements and Exemptions (NI 31-103).

New BCI 81-504 also

  • replaces the reference to section 46 of the Act (since it is repealed) with equivalent wording from section 8.21(2)(b) of NI 31-103, and incorporates the defined terms (approved credit rating and approved credit rating organization) used in section 8.21(2)(b) of NI 31-103, and
  • specifies that the term responsible person has the same meaning as in section 13.5(1) of NI 31-103, rather than section 120(1) of the Act.

September 28, 2009

 

Brent W. Aitken
Acting Chair

Ref:  Securities Act, sections 46, 120 and 127
          BC Instrument 81-504 Transactions Between Mutual Funds and Responsible Persons Relating to Certain Debt
          Securities
          National Instrument 31-103 Registration Requirements and Exemptions


This Notice may refer to other documents. These documents can be found at the B.C. Securities Commission public website at www.bcsc.bc.ca in the section Securities Law & Policy: Policies & Instruments.