Document ID: chunk:federal_register_of_legislation:C2004A04707:front:0:p39
Version: federal_register_of_legislation:C2004A04707
Segment Type: other
Provision Reference: 
Character Range: 99982–103136

of the invitation or offer; or

SCHEDULE 2—continued

     (b) when the invitation or offer is issued or made, a written agreement is in force under which the dealer is to, or may, whether subject to conditions or otherwise:

        (i) act on the person's behalf in connection with the acquisition or sale of securities by the person; or

        (ii) advise the person about the acquisition or sale of securities by the person.".

63. Subsection 1084(1):

  Insert "3A," after "3,".

64. Schedule 3:

  (a) Omit:

     "Subsection 1024(1):

    Penalty: $20,000 or imprisonment for 5 years, or both.

    Subsection 1024(4):

    Penalty: $5,000 or imprisonment for 1 year, or both.",

    substitute:

     "Subsection 1023A(1):

    Penalty: $5,000 or imprisonment for 1 year, or both.

    Subsection 1023B(2):

    Penalty: $20,000 or imprisonment for 5 years, or both.

    Subsection 1024(2):

    Penalty: $20,000 or imprisonment for 5 years, or both.

    Subsection 1024C(3):

    Penalty: $20,000 or imprisonment for 5 years, or both.

    Subsection 1024D(2):

    Penalty: $20,000 or imprisonment for 5 years, or both.

    Subsection 1024E(8):

    Penalty: $2,500 or imprisonment for 6 months, or both.

    Subsection 1024G(4) or (7):

    Penalty: $20,000 or imprisonment for 5 years, or both.".

  (b) Insert before "Section 1052":

SCHEDULE 2—continued

     "Section 1043B:

     Penalty: $2,500 or imprisonment for 6 months, or both.".

PART 2

OMITTING "OR BUY"

65. Section 9 (definition of "prospectus"), subsection 622(1), section 1017, subsection 1018(1) and section 1019:

  Omit "or buy".

PART 3

OMITTING "OR PURCHASE"

66. Section 9 (definition of "prospectus"), subsections 622(1) and 622(3), section 1017, subsection 1018(1), section 1019 and subsection 1060(1):

  Omit "or purchase" (wherever occurring).

PART 4

OMITTING ", ISSUE OR SALE" AND SUBSTITUTING "OR ISSUE"

67. Subsection 1008(4), paragraph 1008A(2)(d), subsection 1008A(4) and paragraphs 1009(3)(b) and (c) and (4)(a), (b) and (c):

  Omit ", issue or sale", substitute "or issue".

PART 5

OMITTING "PRIMARY"

68. Section 9 (definition of "excluded prospectus"), paragraph 244(1)(a), subsections 1023(1) and (2), paragraph 1025(3)(c), subsection 1026(3), section 1029, paragraph 1030(1)(a), section 1038 and subsection 1040(1):

  Omit "primary" (wherever occurring).

                         SCHEDULE 3 Section 6

AMENDMENTS OF THE CORPORATIONS LAW RELATING TO
INDEMNIFYING OR INSURING AN OFFICER OR AUDITOR OF A
COMPANY

1. After subsection 232A(2):

  Insert:

"(2A) For the purposes of subsection (1), a director does not have an interest in a matter relating to an existing or proposed contract of insurance merely because the contract insures, or would insure, the director against a liability incurred by the director as an officer of the company or of a related body corporate. This subsection does not apply if the company is the insurer.".

2. Subsections 241(1), (2) and (3):

  Omit the subsections, substitute:

  "(1) A company or a related body corporate must not:

    (a) indemnify a person who is or has been an officer or auditor