Defective preliminary prospectus
85Where in the opinion of the Executive Director a preliminary prospectus does not substantially comply with the requirements of New Brunswick securities law as to the form and content of a prospectus, the Executive Director may, without giving notice, order that the trading permitted by subsection 82(2) in the security to which the preliminary prospectus relates shall cease until a revised preliminary prospectus satisfactory to the Executive Director is filed with the Executive Director and sent to each recipient of the defective preliminary prospectus according to the record maintained in accordance with the regulations.