31-514 (Blanket Order) - Registration Requirement Exemption for International Dealers

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

Document Type: Blanket Order
Document No.: 31-514
Subject: Exemption from the Registration Requirement in NI 31-103 for International Dealers
Effective Date: September 28, 2011

Blanket Order 31-514

Exemption from the Registration Requirement in NI 31-103 for International Dealers

Part 1 Definitions

1.1  Unless otherwise defined in this decision or the context otherwise requires, terms used in this decision that are defined in National Instrument 31-103 Registration Requirements and Exemptions (NI 31-103) or National Instrument 14-101 Definitions have the same meaning.

Part 2 Background

2.1  Section 8.18 of NI 31-103 provides an exemption from the dealer registration requirement.

2.2  Section 8.18 of NI 31-103 includes provisions that use the defined term “Canadian permitted client”.

2.3  Since the term “Canadian permitted client” in section 8.18 of NI 31-103 may be more restrictive than intended, it would not be prejudicial to the public interest if in subsections 8.18(2) and 8.18(4), the term “Canadian permitted client” were read as “permitted client”.

Part 3 Order

3.1  A person is exempt from the dealer registration requirement, if the person relies on the exemption in section 8.18 of NI 31-103, except that in subsections 8.18(2) and 8.18(4), the term “Canadian permitted client” were read as “permitted client”.

Part 4 Effective Date

4.1  This Order will come into effect on September 28, 2011.

Dated at Charlottetown, Prince Edward Island, this 28th day of September, 2011.