(1) The insider reporting requirement does not apply to a director or officer for an acquisition or disposition of securities described in subsection (2) if the director or officer complies with the alternative reporting requirement in section 5.4.
(2) The exemption in subsection (1) applies to
(a) an acquisition of securities of the reporting issuer under an automatic securities purchase plan, other than an acquisition of securities under a lump-sum provision of the plan; or
(b) a specified disposition of securities of the reporting issuer under an automatic securities purchase plan.
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