Section 1 BEFORE amended by BC Reg 225/2009, effective September 28, 2009.
Definitions
1 In this regulation:
"Act" means the Securities Act;
"MTN Program" has the meaning ascribed to that term in NI 44-102;
"NI 44-102" means National Instrument 44-102 Shelf Distributions;
"NI 44-103" means National Instrument 44-103 Post-Receipt Pricing;
"NI 51-102" means National Instrument 51-102 Continuous Disclosure Obligations;
"NI 81-102" means National Instrument 81-102 Mutual Funds;
"NI 81-106" means National Instrument 81-106 Investment Fund Continuous Disclosure;
"PREP prospectus" means a base PREP prospectus or a supplemented PREP prospectus as those terms are defined in NI 44-103;
"Rules" means the Securities Rules.
[am. B.C. Regs. 388/2000, s. 1; 416/2003, s. 1; 43/2008, s. 2 (a).]
Part 3 BEFORE re-enacted by BC Reg 91/2014, effective May 26, 2014.
Notification procedure for section 15.1 of the Act
7.1 (1) The commission must notify the public that it has received money under an order made under section 155.1 (b) or 157 (1) (b) of the Act by
(a) publishing a notice at least once in one major daily newspaper of general and regular paid circulation in British Columbia, and
(b) posting a notice on a publicly accessible website maintained by the commission.
(2) For the purposes of subsection (1) (b), the notice must be posted until the earlier of
(a) 3 years from the date that the notice is first posted, and
(b) the date on which all money received in relation to the order has been paid out of court.
(3) A notice under subsection (1) must state
(a) a description of the offence, contravention or failure to comply that resulted in the order under section 155.1 (1) or 157 (1) (b) of the Act,
(b) the name of each party to the proceeding that resulted in the order under section 155.1 (1) or 157 (1) (b) of the Act,
(c) the amount of money received by the commission in relation to the proceeding, and
(d) that a claim for the money can be made under the Securities Act.
(4) If, after it has published a notice under subsection (1) (a), the commission receives additional money under the order, the commission is not required to publish a notice stating that fact.
[en. B.C. Reg. 232/2006, Sch. s. 1.]
Section 7.1 (a) BEFORE amended by BC Reg 45/2020, effective March 27, 2020.
(a) suffered pecuniary loss as a direct result of misconduct that resulted in an order for which the commission gave notice under section 7.2,
Section 7.2 BEFORE repealed by BC Reg 45/2020, effective March 27, 2020.
Notification procedure
7.2 (1) If the commission receives money from an order, for the purpose of giving notice under section 15.1 (1) of the Act, the commission must
(a) issue a press release, and
(b) post a notice on the commission's website.
(2) A notice under subsection (1) (b) must be posted until the earlier of
(a) 3 years from the date that the notice is first posted, and
(b) the date on which all money received under the order has been paid out under this Part.
(3) A press release and a notice under subsection (1) must include the following:
(a) a description of the misconduct that resulted in the order;
(b) the name of each party to the proceeding that resulted in the order;
(c) the amount of money received by the commission from the order;
(d) a statement that a claim for the money can be made by applying to the commission.
(4) If, after the commission has posted a notice under subsection (1) (b), the commission receives additional money under the order, the commission must post on its website the total amount of money received under the order.
[en. B.C. Reg. 91/2014, Sch. s. 1.]
Section 7.3 (1) BEFORE repealed by BC Reg 45/2020, effective March 27, 2020.
(1) An application for a payment under section 15.1 of the Act must be in the required form.
Section 9 (1) BEFORE repealed by BC Reg 45/2020, effective March 27, 2020.
(1) A summons or demand for production of records and things issued by a person under section 144 of the Act must be served personally on the individual summoned or from whom the records and things are demanded.
Section 22, items 1 to 9, 14, 16 to 18 and 24 BEFORE amended by BC Reg 225/2009, effective September 28, 2009.
| 1 | (a) | For filing an application for registration or renewal of registration as a dealer, regardless of the number of categories to which the application relates | $2 500 | ||
| (b) | In addition to the amount set out in paragraph (a), for each branch office of the applicant in British Columbia in which more than 3 registered persons carry on business, or will carry on business if registration is granted | $50 | |||
| 2 | For filing an application for registration or renewal of registration as a salesperson, partner, director or officer of a dealer in British Columbia | $250 | |||
| 3 | Unless item 4 applies, for filing an application for registration or renewal of registration as an underwriter | $2 500 | |||
| 4 | For filing an application for registration or renewal of registration as an underwriter if the applicant | ||||
| (a) | is registered as a dealer, or | ||||
| (b) | is also applying for registration as a dealer | $500 | |||
| 5 | (a) | For filing an application for registration or renewal of registration as an adviser, regardless of the number of categories to which the application relates | $1 500 | ||
| (b) | In addition to the amount set out in paragraph (a), for each branch office of the applicant in British Columbia in which more than 3 registered persons carry on business, or will carry on business if registration is granted | $50 | |||
| 6 | For filing an application for registration or renewal of registration as an advising employee, partner, director or officer of an adviser in British Columbia | $250 | |||
| 7 | For filing an application for reinstatement of a registration that has been suspended, | ||||
| (a) | if the application is filed within the 3 month period following the suspension | No fee | |||
| (b) | if the application is filed after the 3 month period following the suspension | $250 | |||
| 8 | For each day that the financial statements of a registered dealer, underwriter or adviser have not been filed as required under the Rules, unless the commission or executive director has exempted in writing the registered dealer, underwriter or adviser from the requirement to file financial statements | $100 | |||
| 9 | (a) | Subject to paragraphs (b) and (c), for filing a preliminary prospectus, a preliminary base shelf prospectus under NI 44-102, a preliminary base PREP prospectus under NI 44-103 or a pro forma prospectus | $2 500 | ||
| (b) | For filing a preliminary or pro forma prospectus for a mutual fund | $1 500 | |||
| (c) | For filing a preliminary exchange offering prospectus | $1 500 | |||
| 14 | For filing a notice by an issuer of its intention to offer securities under section 74 (2) (7) of the Act, if the notice includes a rights offering memorandum or circular | $500 | |||
| 16 | For filing a report | ||||
| (1) | (a) | under section 139 of the Rules, except as provided in subsection (2) of this item, | |||
| (b) | pursuant to the terms of an order made under section 76 of the Act, or | ||||
| (c) | under National Instrument 45-106 Prospectus and Registration Exemptions, the greater of | ||||
| (i) | $100, or | ||||
| (ii) | 0.03% or, in the case of a money market fund, 0.01%, of the proceeds realized by the issuer from the distribution of the securities described in the report to purchasers in British Columbia | ||||
| (2) | under section 139 of the Rules for a distribution under section 74 (2) (8) or (11) (i) of the Act | $100 | |||
| 17 | For filing an annual financial statement by a reporting issuer, as required under NI 51-102 or NI 81-106, if the statement is filed | ||||
| (a) | within the prescribed time period | $600 | |||
| (b) | outside the prescribed time period | $800 | |||
| (c) | outside the prescribed time period and the commission or the executive director has ordered, in respect of the failure to file, that trading in the securities of the issuer cease | $1 100 | |||
| 18 | For filing an interim financial statement by a reporting issuer, as required under NI 51-102 or NI 81-106, if the statement is filed | ||||
| (a) | within the prescribed time period | No fee | |||
| (b) | outside the prescribed time period | $200 | |||
| (c) | outside the prescribed time period and the commission or the executive director has ordered, in respect of the failure to file, that trading in the securities of the issuer cease | $500 | |||
| 24 | For the certification of a record | ||||
| (a) | for the number of pages, up to and including 10, included in the record | $10 | |||
| (b) | for each additional page over 10 included in the record | $1 | |||
Section 22, item 8 BEFORE amended by BC Reg 238/2014, effective January 11, 2015
| 8 | For each day that the financial statements of a registered dealer, investment fund manager or adviser have not been filed as required under National Instrument 31-103 Registration Requirements, unless the commission or executive director has exempted in writing the registered dealer, investment fund manager or adviser from the requirement to file financial statements | $100 | |||
Section 22, item 1 (2) (part) BEFORE amended by BC Reg 258/2018, effective December 30, 2018.
| 1 | (2) | For seeking or maintaining registration in one or more of the following categories: | $250 | |
Section 22, items 10 (a), 15 and 20 BEFORE amended by BC Reg 258/2018, effective December 30, 2018.
| 10 | (a) | 0.02%, or | ||
| 15 | For filing an application, other than an application to revoke a cease-trade order in effect for less than 91 days, to the commission or the executive director for a decision under the Act, this regulation, the Rules, another enactment or a policy statement, if no other fee for that filing is prescribed | $750 | ||
| 20 | For filing a take over bid circular or issuer bid circular | $750 | ||
Section 22, item 16 (c) (i) BEFORE amended by BC Reg 258/2018, effective December 30, 2018.
| 16 | For filing a report | |||
| (1) | (c) | under National Instrument 45-106 Prospectus and Registration Exemptions, the greater of | ||
| (i) $100, or | ||||
Section 22, items 15.1 to 15.7 and 32 to 36 were added by BC Reg 258/2018, effective December 30, 2018.
Section 22, items 29, 30 and 31 BEFORE repealed by BC Reg 258/2018, effective December 30, 2018.
| 29 | For filing an application for a certificate confirming that a reporting issuer is not in default of | ||||
| (a) | filing financial statements required by the Act or the regulations | $100 | |||
| (b) | paying prescribed fees and charges | $100 | |||
| 30 | For filing an application for an approval of a waiver of the appointment of an auditor under section 179 (3) (b) of the Company Act | $100 | |||
| 31 | For filing an application for a consent to the restoration of a company or extraprovincial company to the register under section 262 (4) (c) of the Company Act | $100 | |||
Section 23 BEFORE repealed by BC Reg 225/2009, effective September 28, 2009.
Interpretation
23 For the purposes of item 7 of the table in section 22, the 3 month period ends
(a) on the day in the third month following the suspension that corresponds numerically with the date of the suspension, or
(b) if there is no day in the third month that corresponds numerically with the date of the suspension, on the last day of that third month.
[en. B.C. Reg. 416/2003, s. 3.]
Section 24 BEFORE amended by BC Reg 225/2009, effective September 28, 2009.
Fee calculation and filing requirements relating to distributions
24 For the purposes of the fee payable under item 10 of the table in section 22,
(a) if the prospectus relates to securities that are not distributed continuously, in circumstances where NI 44-102 does not apply, the issuer or securityholder must file
(i) with the prospectus, an estimate of the proceeds that will be realized from the distribution under the prospectus to purchasers in British Columbia, accompanied by
(A) if the executive director so requires, an advance of the prescribed fee based on the estimate of the proceeds, or
(B) in any other case, an undertaking to pay the prescribed fee not more than 30 days after the completion of the distribution under the prospectus, and
(ii) not more than 30 days after the completion of the distribution under the prospectus, a notice of the proceeds realized from the distribution under the prospectus to purchasers in British Columbia and, subject to section 25, the notice must be accompanied by the prescribed fee,
(b) if the prospectus relates to securities that are distributed continuously, in circumstances where NI 44-102 does not apply, the issuer or securityholder must file a notice of the proceeds realized from the distribution under the prospectus to purchasers in British Columbia, accompanied by the prescribed fee, on the date a new prospectus relating to the securities is filed,
(c) if the prospectus relates to securities that are distributed under NI 44-102 the issuer or securityholder must file
(i) with the 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 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 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 base shelf prospectus, and
(B) the date that is 25 months after the date of filing the base shelf prospectus, or
(d) if the prospectus relates to securities that are distributed under NI 44-103, the issuer or securityholder must file
(i) with the base PREP prospectus, an undertaking to pay the prescribed fee within 30 days after the completion of the distribution under the supplemented PREP prospectus, and
(ii) within 30 days after the completion of the distribution under the supplemented PREP prospectus, a notice stating the proceeds realized in British Columbia accompanied by the required fee.
[en. B.C. Reg. 416/2003, s. 3; am. B.C. Reg. 43/2008, s. 2 (c).]
Section 28 BEFORE repealed by BC Reg 225/2009, effective September 28, 2009.
Designated organizations
28 A designated organization that is authorized under the Registration Transfer Rules to exercise a power or perform a duty of the executive director in respect of which a fee is payable to the executive director under any of items 1, 2, 3, 4 or 7 of the table in section 22 must collect the fee and must remit the fee to the executive director within 7 business days after the last day of the month in which the power was exercised or the duty was performed.
[en. B.C. Reg. 416/2003, s. 3.]