(1) This Part applies to a bid that is an insider bid.
(2) This Part does not apply to an insider bid in respect of which the offeror complies with National Instrument 71-101 The Multijurisdictional Disclosure System, unless persons whose last address as shown on the books of the offeree issuer is in Canada, as determined in accordance with subsections 12.1(2) to (4) of that instrument, hold 20 per cent or more of the class of securities that is the subject of the bid.