Regulatory Alerts2021-09-21
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 private issuers, while providing distinct rules for control distributions and trades involving underlying securities from convertible or exchangeable instruments. The text further outlines exemptions for trades made outside Canada by non-reporting or foreign issuers, subject to specific ownership and market conditions.
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