(1) A person must not offer securities for issue or sale in the course of, or
because of, an unsolicited:
- (a)
- meeting with another person; or
- (b)
- telephone call to another person;
unless the offer is exempted under subsection (2).
- Note: Section 700 extends offers to include invitations and distributing
application forms.
(2) Subsection (1) does not prohibit an offer of securities if:
- (a)
- the
offer does not need a disclosure document because of subsection 708(8) or (10)
(sophisticated investors); or
- (b)
- the offer does not need a disclosure document because of subsection
708(11) (professional investors); or
- (c)
- the offer is an offer of listed securities made by telephone by a licensed
securities dealer; or
- (d)
- the offer is made to a client by a licensed securities dealer through whom
the client has bought or sold securities in the last 12 months.