Canada Business Corporations Regulations, 2001

2 (1) For the purpose of the definition distributing corporation in subsection 2(1) of the Act and subject to subsections 2(6) and (7) of the Act and subsection (2) of this section, distributing corporation means

• (a) a corporation that is a reporting issuer under any legislation that is set out in column 2 of an item of Schedule 1; or

• (b) in the case of a corporation that is not a reporting issuer referred to in paragraph (a), a corporation

  • (i) that has filed a prospectus or registration statement under provincial legislation or under the laws of a jurisdiction outside Canada,

  • (ii) any of the securities of which are listed and posted for trading on a stock exchange in or outside Canada, or

  • (iii) that is involved in, formed for, resulting from or continued after an amalgamation, a reorganization, an arrangement or a statutory procedure, if one of the participating bodies corporate is a corporation to which subparagraph (i) or (ii) applies.

(2) A corporation that is subject to an exemption under provincial securities legislation, or to an order of the relevant provincial securities regulator that provides that the corporation is not a reporting issuer for the purposes of the applicable legislation, is not a distributing corporation for the purpose of the definition of that expression in subsection (1).