45-501 - Exempt Distributions - Co-operative Associations

Securities Act

R.S.P.E.I. 1988, Cap-S-3.1

Document Type: Local Rule

Document No: 45-501

Subject: Exempt Distributions - Co-operative Associations

Effective Date: March 17, 2008                                                                                                                                                    

Local Rule 45-501 Exempt Distributions - Co-operative Associations

Part 1 Definitions

1.1  In this Rule:

“Act” means the Securities Act R.S.P.E.I. 1988, Cap-S-3.1;

Part 2 Exemption from the Registration and Prospectus Requirements

2.1  Sections 86 and 96 of the Act do not apply to a trade in securities issued by corporations to which the Co-operative Associations Act R.S.P.E.I. 1988, Cap. C-23 applies.

Part 3 Effective Date

3.1  This Rule comes into force on March 17, 2008.

45-501 (Amendment)

Securities Act

R.S.P.E.I. 1988, Cap-S-3.1

Document Type: Amendments to Local Rule

Document No: 45-501 - A

Subject: Exempt Distributions - Co-operative Associations

Effective Date: July 4, 2011            

Amendments to Local Rule 45-501 Exempt Distributions - Co-operative Associations

Part 1 Definitions

1.1  In this Rule:

“Local Rule 45-501” means Local Rule 45-501 - Exempt Distributions - Co-operative Associations”.

Part 2 Amendments to Local Rule

2.1 Local Rule 45-501 is amended by the addition of the following after section 2.1:

2.2 Section 2.1 does not apply to a distribution or a trade in a share that is a part of a specified issue as defined in the Community Development Equity Tax Credit Act R.S.P.E.I. 1988, Cap. C-13.01.

Part 3 Effective Date

3.1  This Rule comes into force on July 4, 2011.