52. An issuer is not required to prepare a prospectus in the following cases:
(1) the distribution to holders of its securities of an exchange, conversion or subscription right relating to its securities, as well as of the securities issued on the exercise of that right;
(2) the distribution of securities by stock-dividend distribution or through dividend re-investment plans;
(3) the distribution of securities to its shareholders through subscription plans;
(3.1) the distribution of shares, other than qualifying shares, by a financial services cooperative within the meaning of the Act respecting financial services cooperatives (chapter C-67.3) to members of such a cooperative who are already holders of such shares, other than qualifying shares, through a subscription plan;
(4) the distribution of portfolio securities issued by a reporting issuer to permit the exercise of an exchange, conversion or subscription right previously granted by the issuer;
(5) the distribution of securities of its own issue to its employees and senior executives or those of an affiliate who are not induced to purchase by expectation of employment or continued employment.