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Volume 68, No. 20

204/2025

The British Columbia Gazette,

Part II

December 2, 2025

B.C. Reg. 204/2025 , deposited November 24, 2025, under the SECURITIES ACT [section 183 (35)]. Order in Council 529/2025, approved and ordered November 24, 2025.

On the recommendation of the undersigned, the Lieutenant Governor, by and with the advice and consent of the Executive Council, orders that, effective November 28, 2025, the Securities Regulation, B.C. Reg. 196/97, is amended as set out in the attached Schedule.

— B. BAILEY, Minister of Finance ; T. DAVIDSON, Presiding Member of the Executive Council .

Schedule

Section 1 of the Securities Regulation, B.C. Reg. 196/97, is amended by adding the following definition:

"WKSI base shelf prospectus" has the meaning ascribed to that term in National Instrument 44‑102 Shelf Distributions .

Section 22 is amended in the table

(

a) in column 1 of item 9 (

a) by adding " a WKSI base shelf prospectus under National Instrument 44‑102 Shelf Distributions , " after " a preliminary base shelf prospectus under National Instrument 44‑102 Shelf Distributions , ", and

(

b) in column 1 of item 21.1 by striking out " Trade Repositories and Derivatives Data Reporting " and substituting " Derivatives: Trade Reporting ".

Section 24 is amended

(

a) in subsection (1) (

c) by striking out " if the prospectus relates to securities that are distributed under National Instrument 44‑102 Shelf Distributions " and substituting " if the prospectus relates to securities that are distributed under National Instrument 44‑102 Shelf Distributions , other than securities distributed under a WKSI base shelf prospectus, ",

(

b) in subsection (1) (c) (iii) (

B) by striking out " or ",

(

c) in subsection (1) by adding the following paragraph:

(c.1) if the prospectus relates to securities that are distributed under a WKSI base shelf prospectus under National Instrument 44‑102 Shelf Distributions , the issuer or securityholder must file

(

i) with the WKSI base shelf prospectus, an undertaking to pay the prescribed fee

(

A) within 5 business days after the end of each month with respect to the securities sold during that month, for securities distributed continuously in circumstances other than through an MTN Program,

(

B) together with the monthly filing of pricing supplements, for securities distributed continuously through an MTN Program, or

(

C) within 30 days after the completion of the offering of securities for each tranche, for securities distributed on a delayed basis,

(ii) a notice stating the gross proceeds realized in British Columbia, accompanied by the prescribed fee,

(

A) not more than 5 business days after the end of each month with respect to the securities sold during that month, for securities distributed continuously in circumstances other than through an MTN Program,

(

B) together with the monthly filing of pricing supplements, for securities distributed continuously through an MTN Program, or

(

C) within 30 days after the completion of the offering of securities for each tranche, for securities distributed on a delayed basis, and

(iii) a notice stating the gross proceeds realized in British Columbia, accompanied by the required fee, if any, within 30 days after the earlier of

(

A) the completion of all offerings of securities under the WKSI base shelf prospectus, and

(

B) the date that is 37 months after the date of filing the WKSI base shelf prospectus, or , and

(

d) in subsection (2) by striking out " If a notice referred to in paragraph (

b) or (b.1) " and substituting " If a notice referred to in subsection (1) (

b) or (b.1) ".

Section 24.1 (2) is amended by striking out " Trade Repositories and Derivatives Data Reporting " and substituting " Derivatives: Trade Reporting ".

Section 24.2 is amended by striking out " Trade Repositories and Derivatives Data Reporting " wherever it appears and substituting " Derivatives: Trade Reporting ".

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