Acts and Regulations

S-5.5 - Securities Act

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Orders to provide information regarding distribution
81(1)Where a person proposing to make a distribution of previously issued securities of an issuer is unable to obtain from the issuer information or material that is necessary for the purpose of complying with this Part or the regulations, the Executive Director may, subject to such terms and conditions as the Executive Director considers appropriate, order the issuer to provide to the person the information and material that the Executive Director considers necessary.
81(2)The information and material supplied under subsection (1) may be used by the person to whom it is provided for the purpose of complying with this Part and the regulations.
81(3)Where a person proposing to make a distribution of previously issued securities of an issuer is unable to obtain any or all of the signatures to the certificates required by this Part and the regulations, or otherwise to comply with this Part or the regulations, the Executive Director may, subject to such terms and conditions as the Executive Director considers appropriate, make an order exempting the person from any of the provisions of this Part or the regulations, on being satisfied that
(a) all reasonable efforts have been made to comply with this Part and the regulations, and
(b) no person is likely to be prejudicially affected by the failure to comply.