45-502 - Exempt Distributions - Credit Unions

Securities Act

R.S.P.E.I. 1988, Cap-S-3.1

Document Type: Local Rule

Document No: 45-502

Subject: Exempt Distributions - Credit Unions

Effective Date: March 17, 2008

Local Rule 45-502 Exempt Distributions - Credit Unions

Part 1 Definitions

1.1 In this Rule:

“Act” means the Securities Act R.S.P.E.I. 1988, Cap-S-3.1;

Part 2 Exemption from the Registration and Prospectus Requirements

2.1 Sections 86 and 96 of the Act do not apply to a trade in shares of a credit union within the meaning of the Credit Unions Act R.S.P.E.I. 1988, Cap. C-29.

Part 3 Effective Date

3.1 This Rule comes into force on March 17, 2008.