(Consolidated up to 49/2005)

ALBERTA REGULATION 312/2000

Franchises Act

FRANCHISES ACT EXEMPTION REGULATION

Exemption

1   A franchisor is not required to include financial statements in a disclosure document given to a prospective franchisee

                                 (a)    if the franchisor has a net worth on a consolidated basis according to its most recent financial statements, which have been audited or for which a review engagement report has been prepared,

                                           (i)    of not less than $5 000 000, or

                                          (ii)    of not less than $1 000 000 if the franchisor is controlled by a corporation that meets the requirements of subclause (i),

                                     and

                                 (b)    if the franchisor

                                           (i)    has had at least 25 franchisees conducting business at all times in Canada during the 5-year period immediately preceding the date of the disclosure document,

                                          (ii)    has conducted business that is the subject of the franchise continuously for not less than 5 years immediately preceding the date of the disclosure document, or

                                         (iii)    is controlled by a corporation that meets the requirements of subclause (i) or (ii).

Exemption

1.1(1)  The Collins Barrow National Cooperative Incorporated, registered under the Canada Cooperatives Act, is exempt from the disclosure requirements of section 4 of the Act.

(2)  Subsection (1) is deemed to have come into force on May 7, 2003.

AR 134/2004 s2

Repeal

2   The Exemption Regulation (AR 249/95) is repealed.

Expiry

3   For the purpose of ensuring that this Regulation is reviewed for ongoing relevancy and necessity, with the option that it may be repassed in its present or an amended form following a review, this Regulation expires on November 30, 2015.

AR 312/2000 s3;49/2005