THE MANITOBA SECURITIES
COMMISSION
MSC Rule No. 2018-5
(Section
149.1, The Securities Act)
AMENDMENTS TO
NATIONAL INSTRUMENT 41-101 GENERAL PROSPECTUS REQUIREMENTS
1. National Instrument 41-101 General Prospectus Requirements is amended by this Instrument.
2. Section 1.1 is amended by replacing the definition of "designated rating organization" with the following:
"designated rating organization" has the same meaning as in National Instrument 44-101 Short Form Prospectus Distributions;
3. Section 1.1 is amended by adding the following definition:
"successor credit rating organization" has the same meaning as in National Instrument 44-101 Short Form Prospectus Distributions;
4. Section 7.2 is amended,
(a) in subsection 7.2(2), by adding "and subject to subsection (2.1)," after "Despite subsection (1),",
(b) in subsection 7.2(2), by replacing "received a rating" with "received a credit rating", and
(c) by adding the following subsection after subsection 7.2(2):
7.2(2.1) If the only credit ratings of the securities referred to in subsection (2) are from Kroll Bond Rating Agency, Inc., its DRO affiliate, any successor credit rating organization of Kroll Bond Rating Agency, Inc. or any DRO affiliate of any successor credit rating organization of Kroll Bond Rating Agency, Inc., subsection (2) does not apply unless the distribution is of asset-backed securities.
5. Subsection 19.1(3) is amended by adding "Alberta and" before "Ontario".
6. This Instrument comes into force on June 12, 2018.
7. This Instrument may be cited as MSC Rule 2018-5.