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Foreign Reporting Issuer
Practical Law Canada Glossary 5-573-3669 (Approx. 2 pages)
Glossary
Foreign Reporting Issuer
Defined in section 1.1 of National Instrument 71-102 (on or after January 1, 2011) - Continuous Disclosure and Other Exemptions Relating to Foreign Issuers as a reporting issuer, other than an investment fund, that is incorporated or organized under the laws of a foreign jurisdiction, unless:
- Outstanding voting securities carrying more than 50% of the votes for the election of director are owned, directly or indirectly, by residents of Canada.
- Any one or more of the following is true:
- the majority of the executive officers or directors of the issuer are residents of Canada;
- more than 50% of the consolidated assets of the issuer are located in Canada; or
- the business of the issuer is administered principally in Canada.