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V-1.1 - Securities Act

Section 52
Disposition versions

Full text
52. (Repealed).
1982, c. 48, s. 52; 1984, c. 41, s. 18; 1990, c. 77, s. 12; 2000, c. 29, s. 676; 2004, c. 37, s. 8.
52. An issuer is not required to prepare a prospectus in the following cases:
(1)  the distribution to holders of its securities of an exchange, conversion or subscription right relating to its securities, as well as of the securities issued on the exercise of that right;
(2)  the distribution of securities by stock-dividend distribution or through dividend re-investment plans;
(3)  the distribution of securities to its shareholders through subscription plans;
(3.1)  the distribution of shares, other than qualifying shares, by a financial services cooperative within the meaning of the Act respecting financial services cooperatives (chapter C-67.3) to members of such a cooperative who are already holders of such shares, other than qualifying shares, through a subscription plan;
(4)  the distribution of portfolio securities issued by a reporting issuer to permit the exercise of an exchange, conversion or subscription right previously granted by the issuer;
(5)  the distribution of securities of its own issue to its employees and senior executives or those of an affiliate who are not induced to purchase by expectation of employment or continued employment.
These exemptions are available only where the distribution is made without any expenditures for distribution or promotion other than the professional fees and remuneration paid to a registered dealer.
1982, c. 48, s. 52; 1984, c. 41, s. 18; 1990, c. 77, s. 12; 2000, c. 29, s. 676.
52. An issuer is not required to prepare a prospectus in the following cases:
(1)  the distribution to holders of its securities of an exchange, conversion or subscription right relating to its securities, as well as of the securities issued on the exercise of that right;
(2)  the distribution of securities by stock-dividend distribution or through dividend re-investment plans;
(3)  the distribution of securities to its shareholders through subscription plans;
(3.1)  the distribution of permanent shares or preferred shares by a savings and credit union within the meaning of the Savings and Credit Unions Act (chapter C-4.1), to members of such a union who already hold permanent shares or preferred shares through subscription plans;
(4)  the distribution of portfolio securities issued by a reporting issuer to permit the exercise of an exchange, conversion or subscription right previously granted by the issuer;
(5)  the distribution of securities of its own issue to its employees and senior executives or those of an affiliate who are not induced to purchase by expectation of employment or continued employment.
These exemptions are available only where the distribution is made without any expenditures for distribution or promotion other than the professional fees and remuneration paid to a registered dealer.
1982, c. 48, s. 52; 1984, c. 41, s. 18; 1990, c. 77, s. 12.
52. An issuer is not required to prepare a prospectus in the following cases:
(1)  the distribution to holders of its securities of an exchange, conversion or subscription right relating to its securities, as well as of the securities issued on the exercise of that right;
(2)  the distribution of securities through a dividend re-investment plan or a stock-dividend distribution plan;
(3)  the distribution of securities to its shareholders through subscription plans;
(4)  the distribution of portfolio securities issued by a reporting issuer to permit the exercise of an exchange, conversion or subscription right previously granted by the issuer;
(5)  the distribution of securities of its own issue to its employees and senior executives or those of an affiliate who are not induced to purchase by expectation of employment or continued employment.
These exemptions are available only where the distribution is made without any expenditures for distribution or promotion other than the professional fees and remuneration paid to a registered dealer.
1982, c. 48, s. 52; 1984, c. 41, s. 18.
52. An issuer is not required to prepare a prospectus in the following cases:
(1)  the distribution to holders of its securities of an exchange, conversion or subscription right relating to its securities, as well as of the securities issued on the exercise of that right;
(2)  the distribution of securities through a dividend re-investment plan or a stock-dividend distribution plan;
(3)  the distribution of securities to its shareholders through subscription plans;
(4)  the distribution of portfolio securities issued by a reporting issuer to permit the exercise of an exchange, conversion or subscription right previously granted by the issuer;
(5)  the distribution of securities of its own issue to its employees and senior executives or those of an affiliate who are not induced to purchase by expectation of employment or continued employment.
1982, c. 48, s. 52.
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