Distributing Trust and Loan Company Regulations

2 (1) For the purpose of subsection 2.3(1) of the Act and subject to subsections 2.3(2) and (3) of the Act and subsection (2) of this section, the following constitutes a distributing company:

• (a) a company that is a reporting issuer under any legislation that is set out in column 2 of the schedule; or

• (b) in the case of a company that is not a reporting issuer referred to in paragraph (a), a company

  • (i) that has filed a prospectus or registration statement under provincial or foreign legislation,

  • (ii) any of the securities of which are listed and posted for trading on a stock exchange in or outside Canada, or

  • (iii) that is involved in, is formed for, results from or is continued after an amalgamation, a reorganization, an arrangement or a statutory procedure, if one of the participating bodies corporate is an entity referred to in subparagraph (i) or (ii).

(2) A company that is subject to an exemption under provincial securities legislation, or to an order of the relevant provincial securities regulator that provides that the company is not a reporting issuer for the purposes of the applicable legislation, is not a distributing company for the purpose of subsection (1).