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Blanket Order #31-506

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

Document Type:  Blanket Order

Document No:  31-506

Subject:  Exemption from Section 3.3 of National Instrument 31-103 Registration Requirements and Exemptions for Representatives of Scholarship Plan Dealers

Effective Date:  February 26, 2010


 

BLANKET ORDER 31-506

 

Exemption from Section 3.3 of National Instrument 31-103
Registration Requirements and Exemptions for
Representatives of Scholarship Plan 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 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 3.3 [time limits on examination requirements] of NI 31-103, provides that an individual is deemed not to have passed on examination or successfully completed a program unless the individual has done so within the time period set out in the section.

2.2 Representatives of scholarship plan dealers, due to subsection 16.1(2) of NI 31-103, have a one year exemption from the proficiency requirements under section 3.7 of NI 31-103.

2.3 In order for these dealing representatives to comply with their category’s proficiency requirements on September 28, 2010 they must have met the examination or course requirements under those sections within the time period specified in section 3.3.


PART 3   ORDER

IT IS ORDERED pursuant to section 16 of the Act that section 3.3 [time limits on examination requirements] of NI 31-103 does not apply to a representative of a scholarship plan dealer in respect of an examination or program in section 3.7 [scholarship plan dealer - dealing representative] of NI 31-103 if such representative was registered in a jurisdiction of Canada as a dealing representative of a scholarship plan dealer on and since the date NI 31-103 came into force.


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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