Canada Cooperatives Regulations

1.1 (1) For the purpose of the definition distributing cooperative in subsection 2(1) of the Act and subject to subsection (2), distributing cooperative means

• (a) a cooperative that is a “reporting issuer” under any legislation that is set out in column 2 of an item of Schedule 4; or

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

  • (i) that has filed a prospectus or registration statement under provincial legislation or under the laws of a jurisdiction outside Canada,

  • (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, formed for, resulting from or continued after an amalgamation, a reorganization, an arrangement or a statutory procedure, if one of the participating entities is a cooperative to which subparagraph (i) or (ii) applies.

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