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V-1.1 - Securities Act

Section 48
Disposition versions

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48. (Repealed).
1982, c. 48, s. 48; 1984, c. 41, s. 15; 1990, c. 77, s. 9; 2002, c. 45, s. 696; 2004, c. 37, s. 90; 2004, c. 37, s. 8.
48. No prospectus is required of a issuer where he distributes tax-shelter securities, that is, securities that give entitlement to tax exemptions, to not more than 50 subscribers, if the transaction meets the conditions set forth in subparagraphs 1 to 5 of the first paragraph of section 47.
Similarly, no prospectus is required for a subsequent transfer between persons who subscribed for the securities. Nor is it required for transfers to associates of the subscribers, provided the Authority is given five days’ prior notice of the transaction.
1982, c. 48, s. 48; 1984, c. 41, s. 15; 1990, c. 77, s. 9; 2002, c. 45, s. 696; 2004, c. 37, s. 90.
48. No prospectus is required of a issuer where he distributes tax-shelter securities, that is, securities that give entitlement to tax exemptions, to not more than 50 subscribers, if the transaction meets the conditions set forth in subparagraphs 1 to 5 of the first paragraph of section 47.
Similarly, no prospectus is required for a subsequent transfer between persons who subscribed for the securities. Nor is it required for transfers to associates of the subscribers, provided the Agency is given five days’ prior notice of the transaction.
1982, c. 48, s. 48; 1984, c. 41, s. 15; 1990, c. 77, s. 9; 2002, c. 45, s. 696.
48. No prospectus is required of a issuer where he distributes tax-shelter securities, that is, securities that give entitlement to tax exemptions, to not more than 50 subscribers, if the transaction meets the conditions set forth in subparagraphs 1 to 5 of the first paragraph of section 47.
Similarly, no prospectus is required for a subsequent transfer between persons who subscribed for the securities. Nor is it required for transfers to associates of the subscribers, provided the Commission is given five days’ prior notice of the transaction.
1982, c. 48, s. 48; 1984, c. 41, s. 15; 1990, c. 77, s. 9.
48. No prospectus is required of a non-reporting issuer where he distributes tax-shelter securities, that is, securities that give entitlement to tax exemptions, to not more than 50 subscribers, if the transaction meets the conditions set forth in subparagraphs 1 to 5 of the first paragraph of section 47.
Similarly, no prospectus is required for a subsequent transfer between persons who subscribed for the securities. Nor is it required for transfers to associates of the subscribers, provided the Commission is given five days’ prior notice of the transaction.
1982, c. 48, s. 48; 1984, c. 41, s. 15.
48. No issuer may avail himself more than once of the exemption provided for in section 47.
1982, c. 48, s. 48.
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