• Net Financial Assets: Either alone or with a spouse, beneficially owns net financial assets having an aggregate realizable value that is more than $1,000,000. 

• Net Income: Net income before taxes exceeded $200,000 in each of the last 2 years, and they reasonably expect to exceed that level again this year; OR Net income before taxes exceeded $300,000 when combined with spouse or common-law partner, in the last 2 years and reasonably expect combined net income to exceed that again this year. 

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Official reference sources：

• NI 45-106 — Full text (BC Securities Commission)

  • bcsc.bc.ca — NI 45-106 Prospectus Exemptions 

  • Authoritative version for BC.

• NI 45-106 — Ontario Securities Commission

  • osc.ca — NI 45-106 

  • Authoritative version for Ontario, including Ontario-specific amendments and companion policy.

• NI 45-106 — Alberta Securities Commission

  • albertasecurities.com — NI 45-106 

  • Authoritative version for Alberta.

• CSA — Canadian Securities Administrators (national overview)

  • securities-administrators.ca — securities law resources

  • The CSA is the national umbrella body for all provincial securities regulators. NI 45-106 is a national instrument adopted by all CSA member jurisdictions.