Document ID: chunk:federal_register_of_legislation:C2004A04707:front:0:p37
Version: federal_register_of_legislation:C2004A04707
Segment Type: other
Provision Reference: 
Character Range: 94981–97666

that complies with whichever of sections 1043C and 1043D applies.

"(2) If the seller issues a document containing the offer or invitation, each copy of the document issued:

  (a) must be attached to, or accompanied by, a copy of the notice; or

     (b) must include a statement to the effect that the seller will provide a copy of the notice, free of charge, to a person who asks for it.

"(3) If the seller makes the offer or issues the invitation otherwise than by issuing a document (for example, by broadcasting or publishing an advertisement), the offer or invitation must include a statement to the effect that the seller will provide a copy of the notice, free of charge, to a person who asks for it.

  "(4) In this section:

'unquoted securities' means securities that are not included in any class of securities that are quoted on a stock market of a securities exchange.

Notice required by subsection 1043B(1)—sale of 30% of voting shares in a company

"1043C.(1) This section sets out the requirements for a notice under subsection 1043B(1) if:

SCHEDULE 2—continued

  (a) the offer or invitation relates to shares in a company; and

     (b) the shares to which the offer or invitation relates constitute at least 30% of:

      (i) in any case—the voting shares in the company; or

        (ii) if the voting shares in the company are divided into classes—the shares in one of those classes; and

  (c) the seller is, for the purposes of Chapter 6, entitled to those shares.

Note: Section 609 defines when a person is entitled to shares for the purposes of Chapter 6.

"(2) Subject to subsection (3), the notice must contain such information as investors and their professional advisers would reasonably require, and reasonably expect to find in the notice, for the purposes of making an informed assessment of:

     (a) the assets and liabilities, financial position, profits and losses, and prospects of the company; and

  (b) the rights attaching to the shares.

"(3) The regulations may limit the information required by subsection (2) to be in the notice.

  "(4) The notice must be:

     (a) printed in type of a size not less than the type known as eight point Times unless the Commission, before the issuing of the notice, certifies in writing that the type and size of letter are legible and satisfactory; and

  (b) signed by the seller; and

  (c) dated.

"(5) The regulations may apply, with or without modifications, the provisions mentioned in subsection (6) to:

  (a) the notice, as if it were a prospectus; and

     (b) the offer or invitation, as if it were an offer or invitation in relation to which section 1018 required a prospectus to be