4272. Application

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    1. IIROC standards apply only to professional opinions that are prepared either:

      1. pursuant to a requirement of relevant securities laws, or

      2. for the express purpose of publication in a disclosure document to be filed with any Canadian securities regulatory authority or delivered to security holders in connection with their consideration of the subject transaction.

    2. IIROC standards do not apply to professional opinions that are either:
      1. rendered in connection with transactions other than the subject transactions, whether or not they are reproduced or summarized in a disclosure document, or
      2. reproduced or summarized in a disclosure document in compliance with relevant securities laws for the disclosure of prior valuations in respect of an issuer.

    There is no history log for this rule.