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Gold/Mining/Energy : PYNG Technologies -- Ignore unavailable to you. Want to Upgrade?

To: Jack Rayfield who wrote (4175)	7/14/1999 7:28:00 PM
From: AriKirA	Respond to of 8117

Since Pyng Technologies Corp is a reporting issuer under BC securities law, I just thought I would post the following link. By the way, VSE rules and regulations also apply since they are listed on the VSE. Moreover, additional securities laws may apply if said laws oblige Pyng Technologies Corp to be a reporting issuer under a specific province. I checked with a couple of my sources at the QSC to find out that Pyng is not a reporting issuer under Quebec laws. Since all their Private placements were done with BC residents, I am presuming that they only have to deal with the BCSC and the SEC. Now, if a resident of X would remit a complaint, things might be different. Oh by the way, with the merger of the exchanges, we will be seeing one junior exchange on which PYT will be trading. We expect to see such a development before the Y2000. Now, if only the provincial governments would allow the federal government to create an entity such as the SEC .... qp.gov.bc.ca SECURITIES ACT [RSBC 1996] CHAPTER 418 Contents Section Part 1 — Interpretation 1 Definitions 2 Insiders of mutual fund 3 Definition of special relationships Part 2 — The Commission 4 Commission continued 5 Commission is an agent of the government 6 Panels of commission 7 Delegation of commission powers and duties 8 Executive director 9 Officers and employees 10 Public service benefits 11 Obligation to keep information confidential 12 B.C. Securities Commission Securities Policy Advisory Committee 13 Appointment of experts Part 3 — Financial Administration 14 Minister of Finance and Corporate Relations 15 Revenue and expenditure 16 Administrative services 17 Fiscal agent 18 Investment 19 Borrowing powers 20 Accounting 21 Business plan 22 Annual report Part 4 — Self Regulatory Bodies and Exchanges 23 References to self regulatory body or exchange 24 Recognition of self regulatory bodies and exchanges 25 Exchange required to be recognized 26 Duty of self regulatory body and exchange 27 Regulation of self regulatory bodies and exchanges 28 Review of action by self regulatory body or exchange 29 Compliance review of self regulatory body or exchange 30 Records of transactions on exchanges 31 Auditors for exchanges and self regulatory bodies 32 Audits of members of exchanges and self regulatory bodies 33 Exemption order by commission Part 5 — Registration 34 Persons who must be registered 35 Granting registration 36 Conditions imposed on registration and registrants 37 Subsequent application 38 Further information may be required from applicant 39 Compliance review of registrant 40 Suspension of salesperson's registration 41 Surrender of registration 42 Notice of change Part 6 — Exemption from Registration Requirements 43 Interpretation and definitions 44 Advisers 45 Exemption of trades 46 Exemption when trading in certain securities 47 Exemption of trades in exchange contracts 48 Exemption order by commission or executive director Part 7 — Trading in Securities Generally 49 Calling at or telephoning residence 50 Representations prohibited 51 Registered dealer acting as principal 52 Disclosure of investor relations activities 53 Use of name of another registrant 54 Representation or holding out of registration 55 Approval of commission or executive director not to be represented 56 Declaration as to short position 57 Prohibited transaction or scheme Part 8 — Trading in Exchange Contracts 58 Trading on an exchange in British Columbia 59 Trading on an exchange outside British Columbia 60 Exemption order by commission or executive director Part 9 — Prospectus 61 Prospectus required 62 Voluntary filing of prospectus 63 Contents of prospectus 64 Executive director's discretion 65 Receipts for prospectus 66 Amendment to preliminary prospectus 67 Amendment to prospectus 68 Certificate of issuer 69 Certificate of underwriter 70 Lapse of prospectus 71 Distribution of securities may be continued 72 Order to provide information regarding distribution Part 10 — Exemptions from Prospectus Requirements 73 Definitions 74 Exemptions 75 Exemption from prospectus requirements 76 Exemption order by commission or executive director 77 Certificates respecting status of reporting issuers Part 11 — Circulation of Materials 78 Waiting period 79 Distribution of preliminary prospectus 80 Distribution list 81 Defective preliminary prospectus 82 Material given on distribution 83 Obligation to send prospectus 84 Exemption order by commission or executive director Part 12 — Continuous Disclosure 85 Publication of material change 86 Trading or informing where undisclosed change 87 Insider reports 88 Order relieving reporting issuer 89 Halt trading order 90 Personal information form 91 Exemption order by commission or executive director Part 13 — Take Over Bids and Issuer Bids Division 1 — Interpretation 92 Definitions 93 Computation of time and expiry of bid 94 Convertible securities 95 Deemed beneficial ownership 96 Acting jointly or in concert 97 Application to direct and indirect offers Division 2 — Exemptions 98 Exempt take over bids 99 Exempt issuer bids 100 Exchange requirements must be met Division 3 — Restrictions on Acquisitions or Sales 101 Restrictions on acquisitions during take over bid 102 Restrictions on acquisitions during issuer bid 103 Restrictions on pre-bid and post-bid acquisitions 104 Sales during bid prohibited Division 4 — Requirements for Bids 105 General provisions 106 Financing of bid 107 Consideration in bids Division 5 — Bid Circulars 108 Offeror's circular 109 Directors' circular 110 Delivery to offeree issuer Division 6 — Special Reporting and Limitations on Acquisitions 111 Reports of acquisitions 112 Acquisitions during bid by other offeror 113 Duplicate reports not required Division 7 — Special Applications 114 Applications to the commission 115 Applications to the Supreme Court Part 14 — Proxies 116 Definitions 117 Solicitation of proxies 118 Voting if proxies provided 119 Exemptions Part 15 — Self Dealing 120 Definitions and interpretation 121 Investments of mutual funds 122 Indirect investment 123 Relieving orders 124 Fees on investment for mutual fund 125 Standard of care for management of mutual fund 126 Report of mutual fund manager 127 Restrictions on transactions with responsible persons 128 Trades by insiders 129 Filing in other jurisdiction 130 Exemptions Part 16 — Civil Liability 131 Liability for misrepresentation in prospectus 132 Liability for misrepresentation in circular or notice 133 Standard of reasonableness 134 Liability in margin contracts 135 Right of action for failure to deliver documents 136 Liability in special relationship if material fact or material change undisclosed 137 Action by commission on behalf of issuer 138 Rescission of contract 139 Rescission of purchase of mutual fund security 140 Limitation period Part 17 — Investigations and Audits 141 Provision of information to executive director 142 Investigation order by commission 143 Power of investigator 144 Investigator's power at hearing 145 Appointment of expert 146 Report to commission 147 Investigation order by minister 148 Evidence not to be disclosed 149 Report to minister 150 Costs payable by person investigated 151 Order to freeze property 152 Appointment of receiver, receiver manager or trustee 153 Examination of financial affairs 154 Exchange of information Part 18 — Enforcement 155 Offences generally 156 Execution of warrant issued in another province 157 Order for compliance 158 Section 5 of the Offence Act 159 Limitation period 160 Costs of investigation 161 Enforcement orders 162 Administrative penalty 163 Enforcement of commission orders 164 Failure to comply with filing requirements Part 19 — Reviews and Appeals 165 Review of decision of executive director 166 Review of decision of person acting under delegated authority 167 Appeal of commission decision Part 20 — General Provisions 168 Admissibility in evidence of certified statements 169 Filing and inspection of records 170 Immunity of commission and others 171 Discretion to revoke or vary decision 172 Conditions on decisions 173 Authority of persons presiding at hearings 174 Hearing fees and charges 175 Extrajurisdictional evidence 176 Extrajurisdictional request for evidence 177 Committal for contempt 178 Executive director may refund fee 179 Review of fees and charges 180 Notices generally 181 Reference to record includes amendment 182 Required records 183 Lieutenant Governor in Council regulations 184 Commission rules 185 Regulations Act applies to commission rules 186 Regulation prevails over commission rule 187 Administrative powers respecting commission rules 188 Policy statements