BCSC adopts urgent rule regarding self-dealing

Posted on January 15, 2010

The British Columbia Securities Commission (BCSC) recently issued a Notice of Adoption regarding its adoption as an urgent rule of BC Instrument 81-513 Self Dealing and related consequential amendments. BCI 81-513 and related consequential amendments are in response to the repeal of the sections of the British Columbia Securities Act that had, until September 28, 2009, contained similar requirements.  Given that BCI 81-513 and related consequential amendments were adopted as an urgent rule, they can remain effective only for a maximum of 275 days. To remain effective, the BCSC must publish BCI 81-513 and related consequential amendments for comment and, as such, the Notice of Adoption is also a request for comment. The BCSC is accepting comments on the instrument and consequential amendments until February 21, 2010.

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