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The Securities Amendment Act

S.M. 1991-92, c. 22

Bill 45, 2nd Session, 35th Legislature

The Securities Amendment Act

(Assented to July 26, 1991)

HER MAJESTY, by and with the advice and consent of the Legislative Assembly of Manitoba, enacts as follows:

C.C.S.M. c. S50 amended

1           The Securities Act is amended by this Act.

Subsection 2(1) amended

2           Subsection 2(1) is amended by striking out "five" and substituting "seven".

Subsection 19(1) amended

3           Subsection 19(1) is amended by striking out clause (c) and substituting the following:

(c)a trade where the party purchasing as principal, but not as underwriter, is

(i)a bank to which the Bank Act (Canada) applies, or the Federal Business Development Bank incorporated under the Federal Business Development Bank Act (Canada),

(ii)a trust or loan company registered under Part XVI of The Corporations Act,

(iii)an insurance company licensed under The Insurance Act, or

(iv)an officer or employee of Her Majesty in Right of Canada or of a province or territory of Canada or of a municipal corporation or public board or commission in Canada, acting in the performance of duties as officer or employee, or

any other trade where the purchaser is a person or company that has been recognized by the commission as an exempt purchaser;.

Subsection 19(1) amended

4           Subsection 19(1) is further amended by adding the following after clause (c):

(c.1)a trade by a bank to which the Bank Act (Canada) applies or by a trust company registered under Part XVI of The Corporations Act, as agent for a person or company in connection with an unsolicited order through a registered dealer, and the trade by that person or company in placing the unsolicited order with the bank or trust company;.

Subsection 116(2) amended

5           Subsection 116(2) is amended by striking out "section 100" and substituting "subsection 108(1)".

Subsection 131(3) amended

6           Subsection 131(3) is amended by striking out "(b)" and substituting "(a)".

Coming into force of Act

7(1)        This Act, except sections 3 and 4, comes into force on the day it receives royal assent.

Coming into force of sections 3 and 4

7(2)        Sections 3 and 4 come into force on a day fixed by proclamation.