Copyright © Queen's Printer,

Victoria, British Columbia, Canada

Licence

Disclaimer

Volume 50, No. 6

B.C. Reg. 63/2007

The British Columbia Gazette,

Part II

March 27, 2007

B.C. Reg. 63/2007, deposited March 15, 2007, pursuant to the SMALL BUSINESS VENTURE CAPITAL ACT [Sections 29 and 37]. Order in Council 143/2007, approved and ordered March 14, 2007.

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 as set out in the attached Appendix.

— C. HANSEN, Minister of Economic Development and Minister Responsible for the Asia-Pacific Initiative and the Olympics; G. CAMPBELL, Presiding Member of the Executive Council.

APPENDIX

1 The Small Business Venture Capital Regulation, B.C. Reg. 390/98, is amended

(

a) by repealing

section 20 and substituting the following:

Reporting requirements

20 For the purposes of

section 29 of the Act, a venture capital corporation must, with respect to its most recently ended fiscal year, include the following information in its annual return:

(

a) the amount of equity capital raised by the venture capital corporation;

(

b) the aggregate value at cost of investments made by the venture capital corporation, the name of each small business the shares of which the venture capital corporation sold and the value at cost of those shares;

(

c) the balance held in the investment protection account of the venture capital corporation at the end of the fiscal year;

(

d) the aggregate amount of expenses incurred by the venture capital corporation and the amount paid as management fees;

(

e) whether any fees or remuneration were paid to the shareholders, officers or directors of the venture capital corporation or to any associate or affiliate of any of them by a small business in which the venture capital corporation made an eligible investment;

(

f) whether the articles of the venture capital corporation were amended in a manner that changed the authorized share structure of the venture capital corporation or altered any rights or restrictions attached to any share of the venture capital corporation;

(

g) the amount of all dividends received by the venture capital corporation in respect of an eligible investment made by it in a small business;

(

h) whether the venture capital corporation redeemed any of its shares;

(

i) whether a share redemption referred to in paragraph (

h) was reported to the administrator;

(

j) in relation to a share redemption referred to in paragraph (

h) that was not reported to the administrator, the name of each investor whose shares were redeemed, the date of each redemption, the number of shares redeemed in each redemption, the investor's cost of each share redeemed in each redemption and the consideration paid by the venture capital corporation in respect of the redemption;

(

k) whether the venture capital corporation paid any expenses to any person or group of persons who, at the time the payment was made, directly or indirectly controlled the venture capital corporation;

(

l) whether the venture capital corporation notified the administrator of the occurrence of any events referred to in

section 14.

, and

(

b) by repealing Form 2.

Copyright © 2007: Queen's Printer, Victoria, British Columbia, Canada