These guidelines apply to business trusts. They set out requirements for aggregating closely related offers made during the last 12 months, when determining whether the applicable limit under a relevant exemption has been exceeded.
- Statutory requirements.
- Rationale and application of the aggregation rule.
- Guidance on how to determine a closely related offer.
- Proper records and documentation of offers.
- Specific exemption for specified financial institutions.
- Market-making for units or derivatives of units in a business trust acquired pursuant to the small offers exemption.