Acts and Regulations

S-5.5 - Securities Act

Section 59
Disposition versions

Full text
Registered dealer acting as principal
Repealed: 2008, c.22, s.26
2008, c.22, s.26
59Repealed: 2008, c.22, s.27
2007, c.38, s.32; 2008, c.22, s.27
Registered dealer acting as principal
59(1)Where a registered dealer, with the intention of effecting a trade in a security with any person other than another registered dealer, issues, publishes or sends a circular, pamphlet, advertisement, letter or other publication and proposes to act in the trade as a principal, the registered dealer shall so state in the circular, pamphlet, advertisement, letter or other publication or otherwise in writing before entering into a contract for the sale or purchase of the security and before accepting payment or receiving any security or other consideration under or in anticipation of the contract.
59(2)A statement made in compliance with this section or paragraph 56(1)(c) that a registered dealer proposes to act or has acted as principal in connection with a trade in a security does not prevent that registered dealer from acting as agent in connection with a trade of the security.
59(3)This section does not apply to a trade in respect of which a person is exempted under the regulations or in an order of the Commission from the requirement to be registered under this Act or the regulations.
2007, c.38, s.32
Registered dealer acting as principal
59(1)Where a registered dealer, with the intention of effecting a trade in a security with any person other than another registered dealer, issues, publishes or sends a circular, pamphlet, advertisement, letter or other publication and proposes to act in the trade as a principal, the registered dealer shall so state in the circular, pamphlet, advertisement, letter or other publication or otherwise in writing before entering into a contract for the sale or purchase of the security and before accepting payment or receiving any security or other consideration under or in anticipation of the contract.
59(2)A statement made in compliance with this section or paragraph 56(1)(c) that a registered dealer proposes to act or has acted as principal in connection with a trade in a security does not prevent that registered dealer from acting as agent in connection with a trade of the security.
59(3)This section does not apply to a trade in respect of which a person is exempted under the regulations or in an order of the Commission from the requirement to be registered under this Act.