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Blanket Order #31-504

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

Document Type:  Blanket Order

Document No:  31-504

Subject:  Exemption from section 14.5 of National Instrument 31-103 Registration Requirements and Exemptions for Canadian Firms

Effective Date:  February 26, 2010



BLANKET ORDER 31-504

Exemption from section 14.5 of National Instrument 31-103
Registration Requirements and Exemptions for Canadian Firms


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 NI 31-103 or National Instrument 14-101 Definitions have the same meaning.

1.2 “NI 31-103" means National Instrument 31-103 Registration Requirements and Exemptions.


PART 2   BACKGROUND

2.1 Section 14.5 of NI 31-103 provides that a registered firm whose head office is not located in Prince Edward Island must provide its clients in Prince Edward Island with a written statement disclosing information specified in the section.

2.2 The purpose of section 14.5 is to ensure clients are given information that may be relevant to their ability to obtain civil remedies against a registrant located outside Prince Edward Island.

2.3 Compliance with section 14.5 of NI 31-103 presents costs that are not justified in respect of a registered firm that has its head office in another jurisdiction of Canada and a physical place of business within Prince Edward Island.


PART 3   ORDER

3.1 IT IS ORDERED pursuant to section 16 of the Act that the requirement in section 14.5 of NI 31-103 does not apply, if

 (a) the head office of the registered firm is located in another jurisdiction of Canada, and

 (b) the registered firm has a physical place of business in Prince Edward Island.


PART 4   EFFECTIVE DATE

4.1 This Order takes effect on February 26, 2010.


DATED at Charlottetown, Prince Edward Island, this 26th day of February, 2010.

 

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