Approval of members required if substantial assets acquired from or disposed to a related party.  |
|
|---|---|
| Rule: | IIA 6.43 |
| Date Requested: | Thursday, August 23, 2007 |
| Requested By: | Issuer |
| Date Approved: | Thursday, August 30, 2007 |
| Approved By: | Compliance Committee |
| Issuer: | BXL |
| Securities: | BXL, BXLA |
| Description of Rule: | The issuer shall obtain the approval of its members if it or any of its child entities acquires a substantial asset from or disposes of a substantial assets to any of the following: (i) a related party; (ii) a chld entity; (iii) a person with voting power of at least 10% of the voting securities of the issuer; (iv) an associate of a person referred to in paragraphs (i) to (iii) above; or (v) a person nominated by the Exchange. ... |
| Waiver Requested: | A waiver was sought by Bell IXL so that it would not be required to obtain member approval for a disposal of listed securities to related parties. |
| Effect of Waiver: | The waiver was granted in circumstances where the sale was to be effected at a price that, compared to the price at which the securities could be disposed of on market, was demonstrated to be in the interests of shareholders. |