GRO
11-910 Designation Order Pursuant to Clause 138.1(2)(b) of The
Securities Act, 1988
On
February 15, 2008 the Saskatchewan Financial Services Commission
will issue GRO 11-910
Designation Order Pursuant to Clause 138.1(2)(b) of The Securities
Act, 1988 (“GRO
11-910”).
GRO
11-910 designates certain exemptions for the purposes of clause
138.1(2)(b) of the Act. Clause 138.1(2)(b) provides that
subsection 138.1(3) of the Act applies to an exemption from the
prospectus requirement that is designated by the Commission.
Subsection
138.1(3) of the Act provides a civil right of action where
advertising and sales literature that is disseminated in
connection with a trade of securities mentioned in subsection
138.1(2) contains a misrepresentation.
GRO
11-910 designates following prospectus exemptions in National
Instrument 45-106 Prospectus and Registration Requirements:
(a)
section 2.3 – Accredited Investor;
(b)
section 2.5 – Family, friends and business associates;
(c)
section 2.9 – Offering memorandum;
(d)
section 2.10 – Minimum amount investment;
(e)
section 2.12 – Asset acquisition;
(f)
section 2.13 – Petroleum, natural gas and mining
properties;
(g)
section 2.19 – Additional investment in investment funds;
(h)
section 2.30 – Isolated trade by issuer; and
(i)
section 5.2 – TSX Venture Exchange offering.
These are the
same prospectus exemptions as those specified under
General Ruling/Order 11-906
Offering Memorandum Specification Order.
February 13,
2008
Contact:
Barbara
Shourounis
Director, Securities Division
(306) 787-5842
