88(1)A dealer, not acting as agent of the purchaser of a security, who receives an order or subscription for a security offered in a distribution to which subsection 71(1) applies shall, subject to the regulations, send to the purchaser, unless the dealer has previously done so, the latest prospectus filed or required to be filed under this Act or the regulations in relation to the security and any amendment to the prospectus filed or required to be filed under this Act or the regulations

88(1.1)Subsection (1) does not apply in respect of a distribution of a prescribed investment fund security trading on an exchange or on a prescribed alternative trading system.

88(1.2)A dealer acting as agent of the purchaser who receives an order or a subscription from the purchaser for a purchase of a prescribed investment fund security trading on an exchange or a prescribed alternative trading system shall send or deliver to the purchaser a disclosure document prescribed by regulation in accordance with the regulations.

88(1.3)An agreement of purchase and sale relating to a prescribed investment fund security in subsection (1.2) is not binding on the purchaser in the circumstances prescribed by regulation.

88(2)An agreement of purchase and sale referred to in subsection (1) is not binding on the purchaser if the dealer from whom the purchaser purchases the security receives written notice evidencing the intention of the purchaser not to be bound by the agreement of purchase and sale not later than midnight on the second business day after receipt by the purchaser of the latest prospectus, of any amendment to the prospectus or of any other document prescribed by regulation.

88(3)Subsection (2) does not apply if the purchaser is a registrant or if the purchaser sells or otherwise transfers beneficial ownership of the security referred to in subsection (2), otherwise than to secure indebtedness, before the expiration of the time referred to in subsection (2).

88(4)A beneficial owner of the security who is not the purchaser under this section may exercise the same rights under subsection (2) as may be exercised by a purchaser.

88(5)A purchaser referred to in subsection (2) who is not the beneficial owner of the security shall advise the person who is the beneficial owner of the security of the provisions of subsections (2) and (4).

88(6)Subsection (5) only applies if the purchaser knows the name and address of the beneficial owner of the security.

88(7)For the purpose of this section, receipt of the latest prospectus, of any amendment to the prospectus, of a disclosure document prescribed by regulation or of any other document prescribed by regulation by a dealer who is acting as agent of or who after receipt commences to act as agent of the purchaser with respect to the purchase of a security referred to in subsection (1) or a prescribed investment fund security referred to in subsection (1.2) shall be deemed to be receipt by the purchaser as of the date on which the agent received that prospectus, amendment to the prospectus, disclosure document prescribed by regulation or other document prescribed by regulation.

88(8)For the purpose of this section, receipt of the notice referred to in subsection (2) by a dealer who acted as agent of the vendor with respect to the sale of the security referred to in subsection (1) shall be deemed to be receipt by the vendor as of the date on which the agent received the notice.

88(9)Subject to subsection (9.1), for the purpose of this section, a dealer shall not be considered to be acting as agent of the purchaser unless the dealer is acting solely as agent of the purchaser with respect to the purchase and sale in question and has not received and has no agreement to receive compensation from or on behalf of the vendor with respect to the purchase and sale.

88(9.1)Subsection (9) does not apply with respect to a dealer who delivers a disclosure document prescribed by regulation under subsection (1.2).

88(10)The onus of proving that the time for giving notice under subsection (2) has expired is on the dealer from whom the purchaser has agreed to purchase the security.

88(1)A dealer, not acting as agent of the purchaser of a security, who receives an order or subscription for a security offered in a distribution to which subsection 71(1) applies shall, subject to the regulations, send to the purchaser, unless the dealer has previously done so, the latest prospectus filed or required to be filed under this Act or the regulations in relation to the security and any amendment to the prospectus filed or required to be filed under this Act or the regulations

88(2)An agreement of purchase and sale referred to in subsection (1) is not binding on the purchaser if the dealer from whom the purchaser purchases the security receives written notice evidencing the intention of the purchaser not to be bound by the agreement of purchase and sale not later than midnight on the second business day after receipt by the purchaser of the latest prospectus, of any amendment to the prospectus or of any other document prescribed by regulation.

88(3)Subsection (2) does not apply if the purchaser is a registrant or if the purchaser sells or otherwise transfers beneficial ownership of the security referred to in subsection (2), otherwise than to secure indebtedness, before the expiration of the time referred to in subsection (2).

88(4)A beneficial owner of the security who is not the purchaser under this section may exercise the same rights under subsection (2) as may be exercised by a purchaser.

88(5)A purchaser referred to in subsection (2) who is not the beneficial owner of the security shall advise the person who is the beneficial owner of the security of the provisions of subsections (2) and (4).

88(6)Subsection (5) only applies if the purchaser knows the name and address of the beneficial owner of the security.

88(7)For the purpose of this section, receipt of the latest prospectus, of any amendment to the prospectus or of any other document prescribed by regulation by a dealer who is acting as agent of or who after receipt commences to act as agent of the purchaser with respect to the purchase of a security referred to in subsection (1) shall be deemed to be receipt by the purchaser as of the date on which the agent received that prospectus, amendment to the prospectus or other document prescribed by regulation.

88(8)For the purpose of this section, receipt of the notice referred to in subsection (2) by a dealer who acted as agent of the vendor with respect to the sale of the security referred to in subsection (1) shall be deemed to be receipt by the vendor as of the date on which the agent received the notice.

88(9)For the purpose of this section, a dealer shall not be considered to be acting as agent of the purchaser unless the dealer is acting solely as agent of the purchaser with respect to the purchase and sale in question and has not received and has no agreement to receive compensation from or on behalf of the vendor with respect to the purchase and sale.

88(10)The onus of proving that the time for giving notice under subsection (2) has expired is on the dealer from whom the purchaser has agreed to purchase the security.

88(1)A dealer, not acting as agent of the purchaser of a security, who receives an order or subscription for a security offered in a distribution to which subsection 71(1) applies shall, unless the dealer has previously done so, send to the purchaser the latest prospectus filed or required to be filed under this Act or the regulations in relation to the security and any amendment to the prospectus filed or required to be filed under this Act or the regulations

88(2)An agreement of purchase and sale referred to in subsection (1) is not binding on the purchaser if the dealer from whom the purchaser purchases the security receives written notice evidencing the intention of the purchaser not to be bound by the agreement of purchase and sale not later than midnight on the second business day after receipt by the purchaser of the latest prospectus and any amendment to the prospectus.

88(3)Subsection (2) does not apply if the purchaser is a registrant or if the purchaser sells or otherwise transfers beneficial ownership of the security referred to in subsection (2), otherwise than to secure indebtedness, before the expiration of the time referred to in subsection (2).

88(4)A beneficial owner of the security who is not the purchaser under this section may exercise the same rights under subsection (2) as may be exercised by a purchaser.

88(5)A purchaser referred to in subsection (2) who is not the beneficial owner of the security shall advise the person who is the beneficial owner of the security of the provisions of subsections (2) and (4).

88(6)Subsection (5) only applies if the purchaser knows the name and address of the beneficial owner of the security.

88(7)For the purpose of this section, receipt of the latest prospectus and any amendment to the prospectus by a dealer who is acting as agent of or who after receipt commences to act as agent of the purchaser with respect to the purchase of a security referred to in subsection (1) shall be deemed to be receipt by the purchaser as of the date on which the agent received the latest prospectus and any amendment to the prospectus.

88(8)For the purpose of this section, receipt of the notice referred to in subsection (2) by a dealer who acted as agent of the vendor with respect to the sale of the security referred to in subsection (1) shall be deemed to be receipt by the vendor as of the date on which the agent received the notice.

88(9)For the purpose of this section, a dealer shall not be considered to be acting as agent of the purchaser unless the dealer is acting solely as agent of the purchaser with respect to the purchase and sale in question and has not received and has no agreement to receive compensation from or on behalf of the vendor with respect to the purchase and sale.

88(10)The onus of proving that the time for giving notice under subsection (2) has expired is on the dealer from whom the purchaser has agreed to purchase the security.