| THE SECURITIES ACT | ) |
Order No. 3628 |
) |
||
| Section 20 | ) |
January 11, 2002 |
REVOCATION OF INSIDER REPORTING BLANKET RULINGS
OR THE IMPLEMENTATION OF THE SYSTEM FOR ELECTRONIC DISCLOSURE BY
INSIDER (SEDI)
WHEREAS:
(A) On August 15, 2001, The Manitoba Securities Commission ("Commission") published MSC Rule 2001-17 ("SEDI Rule"), to implement the System for Electronic Disclosure by Insiders ("SEDI") for the filing of insider reports. Under Part 8 of the SEDI Rule, certain provisions of the SEDI Rule became effective on specified dates;
(B) On October 29, 2001 the Commission issued order no. 3551 which extended various deadlines for issuer and insiders to complete their profiles on SEDI such that all insider reporting was to be done solely through SEDI effective December 17, 2001. The deadline for insiders and issuers to do all insider reporting solely through SEDI has been further extended to January 21, 2002 by Commission Order No. 3603 dated December 18, 2001;
(C) Previously the Commission issued various blanket rulings concerning insider reporting (the "Insider Blanket Orders");
(D) The Director has made application to the Commission to revoke the Insider Blanket Orders effective January 21, 2002 as they would result in the SEDI Rule not functioning as intended;
(E) The Commission is of the opinion that the Insider Blanket Orders are no longer in the public interest and there is no longer adequate justification in the circumstances for the orders to remain in effect;
IT IS ORDERED THAT:
1. The following orders are revoked: Commission Blanket Order 3/89, dated January 4, 1989; Commission Blanket Order 889, dated April 25, 1995; Commission Blanket Order 1638, dated January 13, 1997.
2. This order comes into effect as of January 21, 2002.
BY ORDER OF THE COMMISSION
DEPUTY DIRECTOR - LEGAL