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THE SECURITIES ACT |
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Order No. 7221 |
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Section 20(1) |
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December 7, 2015 |
BLANKET ORDER 13-501
Filing Reports of Exempt Distribution on SEDAR
WHEREAS:
(A) The Director has applied to The Manitoba Securities Commission (the “Commission”) for an order under s. 20(1) of The Securities Act, R.S.M. 1988 c. S50 (the “Act”) exempting a person or company from section 2.1(5) of National Instrument 13-101 System for Electronic Document Analysis and Retrieval (SEDAR) (NI 13-101) that prohibits a person or company that is not required to comply with NI 13-101 from filing a document on SEDAR (the SEDAR Prohibition);
(B) Terms defined in National Instrument 14‑101 Definitions have the same meaning in this Blanket Order;
(C) As discussed in Multilateral CSA Notice of Amendments to National Instrument 13‑101 System for Electronic Document Analysis and Retrieval (SEDAR) and Multilateral Instrument 13‑102 System Fees for SEDAR and NRD (dated December 3, 2015), changes to NI 13–101 to take effect on May 24, 2016 (the Implementation Date) will require that certain material currently filed in paper format instead be filed electronically through SEDAR;
(D) In view of the pending mandatory change in filing requirements, the SEDAR Prohibition is no longer necessary in the public interest in respect of certain distribution-related material;
(E) The Commission is of the opinion that it is in the public interest to make this order.
IT IS ORDERED:
1. THAT, pursuant to s. 20(1) of the Act, that a person or company is exempt from section 2.1(5) of NI 13-101 with respect to (i) offering memoranda, (ii) offering documents under Multilateral Instrument 45-108 Crowdfunding and Blanket Order 45-502 Start-up Crowdfunding Prospectus and Registration Exemption, (iii) reports of exempt distribution, and (iv) documents required to be filed under section 2.9 of National Instrument 45-106 Prospectus Exemptions.
2. THAT, this order takes effect on December 7, 2015 and expires on the Implementation Date.
BY ORDER OF THE COMMISSION
Director