LR-1.3.48

The following are examples of activities, when taken in isolation, are unlikely to be regarded as an activity as defined by Rule LR-1.3.45:

(a) Explaining the structure, or the terms and conditions of a financial instrument or credit facility;
(b) Valuing financial instruments for which there is no ready market;
(c) Circulating company news or announcements;
(d) Comparing the benefits and risks of one financial instrument to another; and
(e) Advising on the likely meaning of uncertain provisions in an agreement relating to, or the terms of, a financial instrument or on the effect of contractual terms and their commercial consequences or on terms that are commonly accepted in the market.
Amended October 2010
October 2007