THE MANITOBA SECURITIES COMMISSION
MSC RULE 2025-9
(Section 149.1, The Securities Act)
AMENDMENTS TO
NATIONAL INSTRUMENT 52-109 CERTIFICATION OF DISCLOSURE IN ISSUERS’ ANNUAL AND INTERIM FILINGS
1. National Instrument 52-109 Certification of Disclosure in Issuers’ Annual and Interim Filings is amended by this Instrument.
2. Section 1.1 is amended
(a) by adding the following definition:
“CSE senior tier” has the meaning ascribed to “senior tier” in section 1.3 of the listing rules of the Canadian Securities Exchange, as amended from time to time;, and
(b) by repealing the definition of “venture issuer” and replacing it with the following:
“venture issuer” means a reporting issuer that, as at the end of the period covered by the annual or interim filings, as the case may be,
(a) did not have any of its securities listed or quoted on any of the Toronto Stock Exchange, Cboe Canada Inc., a U.S. marketplace, or a marketplace outside of Canada and the United States of America other than the Alternative Investment Market of the London Stock Exchange or the AQSE Growth Market operated by Aquis Stock Exchange Limited, and
(b) was not a CSE senior tier issuer.
3.(1) This Instrument comes into force on September 19, 2025.
3.(2) In Saskatchewan, despite subsection (1), if this Instrument is filed with the Registrar of Regulations after September 19, 2025, this Instrument comes into force on the day on which it is filed with the Registrar of Regulations.
4. This Instrument may be cited as MSC Rule 2025-9.