Acts and Regulations

S-5.5 - Securities Act

Section 45
Disposition versions

Full text
Registration required
2008, c.22, s.9
45Unless the person is exempted under the regulations, if a person is not registered in accordance with the regulations in the category that the regulations prescribe for the activity, the person shall not
(a) trade in a security or derivative,
(b) act as an adviser,
(c) act as an investment fund manager, or
(d) act as an underwriter.
2008, c.22, s.10; 2013, c.43, s.14
Registration required
2008, c.22, s.9
45Except where exempted under the regulations, a person shall not
(a) trade in a security or an exchange contract,
(b) act as an adviser,
(c) act as an investment fund manager, or
(d) act as an underwriter,
unless the person is registered, in accordance with the regulations, in the category that the regulations prescribe for the activity.
2008, c.22, s.10
Registration for trading required
45Unless exempted under this Act or the regulations, no person shall
(a) trade in a security or act as an underwriter unless the person is registered as a dealer, or is registered as a salesperson, as a partner or as an officer of a registered dealer and is acting on behalf of the dealer, or
(b) act as an adviser unless the person is registered as an adviser, or is registered as a representative, as a partner or as an officer of a registered adviser and is acting on behalf of the adviser.