Definitions
In this Instrument,
failure-to-file cease trade order means an order, other than a management cease trade order, in relation to a specified default that prohibits or restricts trading in, or purchasing of, securities of a reporting issuer;
management cease trade order means a cease trade order that prohibits or restricts trading in securities of a reporting issuer by one or more of the following:
the chief executive officer of the reporting issuer or a person acting in a similar capacity;
the chief financial officer of the reporting issuer or a person acting in a similar capacity;
an officer or director of the reporting issuer or other person or company who had, or may have had, access directly or indirectly to a material fact or material change with respect to the reporting issuer that has not been generally disclosed;
specified default means a failure by a reporting issuer to comply with the requirement to file, within the time period prescribed, one or more of the following:
annual financial statements;
an interim financial report;
an annual or interim management's discussion and analysis or annual or interim management report of fund performance;
an annual information form;
a certification of filings under National Instrument 52-109 Certification of Disclosure in Issuers' Annual and Interim Filings.
Failure-to-File Cease Trade Orders
If an issuer is a reporting issuer in the local jurisdiction, and a securities regulatory authority or regulator in another jurisdiction of Canada makes a failure-to-file cease trade order in respect of the issuer's securities, a person or company must not trade in or purchase a security of the issuer in the local jurisdiction, except in accordance with the conditions that are contained in the order, if any, for so long as the failure-to-file cease trade order remains in effect.