68. A reporting issuer is an issuer that, having made a distribution of securities to the public, is subject to the continuous disclosure requirements specified in Chapter II of this title.
An issuer is deemed to have made a distribution of securities to the public where
(1) a prospectus has been filed in respect of one of its securities and a receipt therefor obtained from the Authority;
(2) its securities, offered as consideration in a take-over bid by way of an exchange of securities, have been described in a circular filed with the Authority;
(3) any of its securities has been listed on a stock exchange in Québec at any time from 6 April 1983;
(4) its securities have been distributed following a consolidation or reorganization involving at least one reporting issuer;
(5) its existence is the result of the continuance of an issuer contemplated in subparagraphs 1 to 4;
(6) it is contemplated in section 68.1 or 338;
(7) it is so determined by regulation;
(8) it is so designated by the Authority in accordance with criteria determined by regulation.
An issuer who files a prospectus and obtains a receipt therefor from the Authority for the sole purpose of becoming a reporting issuer is also deemed to have made a distribution of securities to the public. The prospectus must contain the information and certificates prescribed by regulation and disclose all the material facts likely to affect the value or the market price of the securities already issued. The rules specified for a prospectus in Title II do not apply to the prospectus.
1982, c. 48, s. 68; 1984, c. 41, s. 24; 1990, c. 77, s. 16; 2001, c. 38, s. 21; 2002, c. 45, s. 696; 2004, c. 37, s. 9.