Regulatory Alerts2022-11-23
Regulation 45-102 Respecting Resale of Securities
Issued under the Securities Act, this regulation establishes the conditions under which the prospectus requirement is exempted for the first trade of securities distributed under specific exemptions. It mandates a four-month holding period for reporting issuers and imposes restrictions on market preparation and commissions to qualify for resale exemptions. The text further details specific procedures for control distributions, including filing requirements, and provides exemptions for trades involving non-reporting or foreign issuers conducted outside Canada.
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