Issuers who rely on certain exemptions from the prospectus requirement to issue securities are required to report their use of the exemption to the BCSC by filing a report of exempt distribution and are required to pay fees to the BCSC based on the amount of capital raised in British Columbia.
Effective July 30, 2009, issuers are required to file these reports and pay the related fees electronically through the BCSC’s existing online electronic filing and payment systems available through BCSC e-services at www.bcsc.bc.ca/EServices.
The new requirement applies to exempt distribution reports that must be filed on or before the 10th day after the distribution and that are in Form 45- 106F1.
In addition, offering memoranda, technical reports and consents of qualified persons that are required to be filed with the distribution report, must also be filed electronically.
Documents filed through e-services must be PDF unsecured generated files and not larger than 20 MB.