Notice

General Ruling/Order 45-909 Short Term Debt Exemption

On July 10, 2003, the Director of the Securities Division of the Saskatchewan Financial Services Commission made General Ruling/Order 45-909 Short Term Debt Exemption (“GRO 45-909”).   

GRO 45-909 grants an exemption from the registration and prospectus requirements for trades in short term debt securities on the condition that the securities: 

• mature no more than one year from the date of issue;
  
• are not convertible or exchangeable into or accompanied by a right to purchase another security other than a security described in the GRO; and
  
• have a credit rating at or above credit ratings prescribed in the GRO. 

GRO 45-909 is substantially similar to the exemptive relief provided in section 2 of BC Instrument 32-501.  

July 10, 2003 

Contact:

Dean Murrison
Deputy Director, Legal
Securities Division
Saskatchewan Financial Services Commission
(306) 787-5879
dmurrison@sfsc.gov.sk.ca