Calls by registered dealers.
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other securities is deemed to be both an offer to acquire and an offer to dispose of securities.
73, (1) Subject to subsection (3), a dealer shall not during. or as a consequence of, a call on any person, whether at his place of residence or his place of employment or otherwise, enter into any contract for the sale of securities unless he-
(a) calls on the person at the invitation of that person; and (b) before entering into the contract provides the person with a written statement containing all the information which he would have been required to give to that person if the contract had been entered into as a result of an offer made under section 72,
(2) Any dealer who contravenes subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine of $10,000 and to imprisonment for 2 years.
(3) Subsection (1) does not apply to-
(c) any contract for the sale of securities of a corporation with a person who already holds securities of that cor- poration:
(b) any contract for the sale of securities by a dealer with a person with whom the dealer bas transacted the sale or purchase of securities on at least 3 occasions during the period of 3 years immediately preceding the date of the
contract: or
(c) any contract for the sale of securities with-
(i) a person whose business involves the acquisition or disposal or holding of securities;
(ii) a solicitor or professional accountant;
(iii) any other person who belongs to a class of persons prescribed in regulations for the purpose of this para- graph,
(4) Where any contract for the sale of securities is entered into in contravention of subsection (1), the purchaser may, subject to the rights of any bone fide purchaser of the securities for value, rescind the contract by giving notice in writing to the seller within 28 days after the date on which the contract was entered into.
(5) In this section "call" includes a visit in person and a communication by telephone.
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74. (1) Subject to subsections (2) and (3), a person shall not, Hawking of whether on his own behalf or otherwise and whether by appoint- securities. ment or otherwise, call from place to place-
(a) making or offering to make with any person-
(i) an agreement for or with a view to having that other person purchase specific securitics; or
(ii) an agreement the purpose or pretended purpose of which is to secure a profit to that other person from the yield of specific securities or by reference to fluctuations in the value of specific securities; or
(6) inducing or attempting to induce any other person to enter into an agreement of the type referred to in sub- paragraph (1) or sub-paragraph (ii) of paragraph (a), whether or not in calling from place to place he does any other act or thing.
(2) Subsection (1) does not apply to a person in so far as- (a) he calls at the place of another person who is a banker, solicitor, professional accountant, registered or exempl dealer, registered or exempt investment adviser or registered dealer's representative or registered investment representative; and
(b) whether as principal or agent, he makes, or offers to make, with that other person an agreement referred to in subsection (1) or induces, or attempts to induce, that other person to enter into, such an agreement
(3) Nothing in this section applies to securities or any class of securities which have been exempted by the Commission for the purposes of this section provided that any conditions subject to which the exemption was granted have been fulfilled.
(4) Any person who contravenes subsection (1) shall be guilty of an offence and shall be liable on conviction to a line of $50,000 and to imprisonment for 2 years.
(5) If in any proceedings for an offence against subsection (4) it is proved that the accused did any of the acts mentioned in paragraph (4) or paragraph (5) of subsection (1) on two or more Occasions within any period of 14 days, he shall, until the com- Urary is proved, be deemed to have been calling from place to place.
(6) In this section "to call" includes to visit in person and to communicate by telephone.