DIVISION2 FULLREVOCATIONQUALIFICATIONCRITERIAAND CONSIDERATIONS
Filing outstanding continuous disclosure for a full revocation
24. (1)
(2)
We will generally not exercise our discretion to revoke a failure-to-file cease trade order that has been in effect for 90 days or less, unless the issuer has filed all of the outstanding continuous disclosure documents specified in the failure-to-file cease trade order, and any annual or interim financial statements, MD&A or MRFP, and certification of filings, that subsequently became due.7
We will generally not exercise our discretion to revoke a failure-to-file cease trade order that has been in effect for more than 90 days, subject to sections 25 and 26, unless the issuer has filed all of its outstanding continuous disclosure.
Exceptions to interim filing requirements
25. In exercising their discretion to revoke a failure-to-file cease trade order that has been in effect for more than 90 days, the principal regulator or, for a dual application, the principal regulator and the OSC, may elect not to require the
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7 Before we revoke a failure-to-file cease trade order for an OTC reporting issuer, we may require the issuer to file additional documents, including those required under Multilateral Instrument 51-105 Issuers Quoted in the U.S. Over-the-Counter Markets.
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issuer to file certain outstanding interim financial reports, interim MD&A, interim MRFP, or interim certificates under National Instrument 52-109 Certification of Disclosure in Issuers’ Annual and Interim Filings, subject to section 24, if the issuer has filed all of the following:
(a) audited annual financial statements, annual MD&A, annual MRFP, and annual certificates, required to be filed under applicable securities legislation;
(b) annual information forms, information circulars and material change reports required to be filed under applicable securities legislation;
(c) for all interim periods in the current fiscal year, interim financial reports (which include the applicable comparatives from the prior fiscal year), interim MD&A, interim MRFP, and interim certificates, required to be filed under applicable securities legislation.
www.bcsc.bc.ca/-/media/PWS/Resources/...7-NP-June-23-2016.pdf
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