Section 3

The Authority may permit, through issued instructions, the filing of a short-form registration and prospectus that may be used for ongoing or shelf registrations of securities, in which the eligible issuer may register a relatively large amount of different types of securities that it may then issue, or take down from the shelf, from time to time pursuant to the form for public offering as may be determined by the Authority.

A form for public offering or short-form registration statement that follows the Authority's instructions permits an eligible issuer to update disclosure prospectively through incorporation by reference into the registration statement of the subsequently filed current reports and periodic reports filed with the

Authority by the issuer.

An eligible issuer may use a short-form registration statement for ongoing or shelf registrations of its securities, in which the issuer registers a relatively large amount of different types of securities that it may then issue from time to time as needed.

A shelf registration statement and a prospectus become effective upon approval of the Authority and permit take-downs of the securities without additional approval of the Authority provided the filing is updated with current required information as set forth in the Authority's instructions.

Disclosure of information in prospectus.