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Volume 47, No. 7

B.C. Reg. 113/2004

The British Columbia Gazette,

Part II

April 6, 2004

B.C. Reg. 113/2004, deposited March 24, 2004, pursuant

to the SECURITIES ACT [Section 184]. Order of the British Columbia

Securities Commission, dated March 23, 2004.

The British Columbia Securities Commission orders that the

Securities Rules, B.C. Reg. 194/97, is amended as set out below.

1 Effective March 30, 2004, the amendments set out in the attached

Schedule A

are made.

2 Effective June 1, 2004, the amendments set out in the attached

Schedule B

are made.

3 Effective December 1, 2004,

section 144 is amended

(

a) in subsection (1) by striking out "other than a mutual

fund" and substituting "that is a non-redeemable investment fund",

(

b) in subsection (1) (

a) by striking out "reporting

issuer" and substituting "non-redeemable investment fund",

(

c) in subsection (1) (

b) by striking out "reporting

issuer" and substituting "non-redeemable investment fund", and

(

d) in subsection (8) by striking out "including a" and

substituting "that is a non-redeemable investment fund, or".

4 Effective May 20, 2005,

section 145 (1) is amended by striking out ", including"

and substituting "that is a non-redeemable investment fund, or".

5 Effective May 20, 2005,

section 152 is amended by adding "that is an investment

fund" after "exchange issuer".

— D. HYNDMAN, British Columbia Securities

Commission.

Schedule A

Section 1 (1) of the Securities Rules, B.C. Reg. 194/97, is amended by

(

a) repealing the definition of "finance issuer", and

(

b) adding the following

definitions:

"investment fund" means an investment fund as defined

in NI 51-102;

"NI 51-102" means National Instrument 51-102 Continuous

Disclosure Obligations ;

"NI 52-107" means National Instrument 52-107 Acceptable

Accounting Principles, Auditing Standards and Reporting Currency ;

"NI 71-102" means National Instrument 71-102 Continuous

Disclosure and Other Exemptions Relating to Foreign Issuers ;

"non-redeemable investment fund" means a non-redeemable

investment fund as defined in NI 51-102.

Section 144 is amended in subsection (3) by striking out "or public accountant's report, but if an auditor or public accountant has been associated with those statements, the communication that is appropriate in the circumstances must accompany the statements" and substituting "report".

Section 146 is amended by striking out "If a reporting issuer or a mutual

fund in British Columbia proposes" and substituting "If a mutual fund in British Columbia,

or a non-redeemable investment fund that is a reporting issuer, proposes".

Section 150 is repealed.

Section 153 is amended

(

a) in subsection (1) by striking out "every reporting

issuer" and substituting "an investment fund that is a reporting issuer",

(

b) in subsection (2) by striking out "A reporting issuer"

and substituting "An investment fund that is a reporting issuer", and

(

c) in subsection (3) by striking out "the National Instrument

entitled " System for Electronic Document Analysis and Retrieval (SEDAR) ",

a reporting issuer" and substituting "National Instrument 13-101 System

for Electronic Document Analysis and Retrieval (SEDAR) , an investment fund

that is a reporting issuer".

Section 154 is repealed and the following substituted:

Filing of records filed in another jurisdiction

154 If an investment fund is a reporting issuer,

and the laws of the jurisdiction in which the investment fund carries on business,

or in which the investment fund was incorporated, organized or continued, require

the investment fund to file substantially the same information in that jurisdiction

as is required by these rules, the investment fund may comply with the filing

requirements of these rules by filing a copy of the press release, timely disclosure

report, information circular or financial statements and auditor's report, as

the case may be, required by that jurisdiction, if those records are signed

and certified in accordance with

section 189.

Schedule B

Section 183 (1) is amended by adding "of an investment fund" after "security holders".

Section 184 is amended

(

a) in subsection (1) by adding "an investment fund that

is" before "a reporting issuer is required to" and by striking out "the reporting

issuer" and substituting "the investment fund",

(

b) by repealing subsection (2), and

(

c) in subsection (3) by striking out "and report".

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