THE MANITOBA SECURITIES COMMISSION MSC RULE 2009-1 (Section 149.1, The Securities Act) Amendments to Multilateral Instrument 11-102 Passport System 1. This Instrument amends Multilateral Instrument 11-102 Passport System. 2. Section 1.1 is amended (a) by adding the following definitions: "category" means a category of registration set out in NI 31-103; "firm" means a person or company that is registered, or is seeking registration, as a dealer, adviser or investment fund manager; "foreign firm" means a firm that has its head office outside Canada; "foreign individual" means an individual whose working office is outside Canada; "Form 33-109F2" means Form 33-109F2 Change or Surrender of Individual Categories under NI 33-109; "Form 33-109F4" means Form 33-109F4 Registration of Individuals and Review of Permitted Individuals under NI 33-109; "Form 33-109F5" means Form 33-109F5 Change of Registration Information under NI 33-109; "Form 33-109F6" means Form 33-109F6 Firm Registration under NI 33-109; "NI 31-103" means National Instrument 31-103 Registration Requirements and Exemptions; "NI 33-109" means National Instrument 33-109 Registration Information; "sponsoring firm" has the same meaning as in NI 33-109; "working office" means the office of the sponsoring firm where an individual does most of his or her business. (b) in the definition of "national prospectus instrument" by striking out "or"at the end of paragraph (d) and by adding the following paragraph: (d.1) National Instrument 71-101 The Multijurisdictional Disclosure System, or, and (c) in the definition of "principal regulator" by striking out "Part 3 or 4," and substituting "Part 3, 4 or 4A,". 3. Part 2 is repealed. 4. Section 3.4 is repealed.
- 2 -5. Section 4.4 is amended by striking out "Subject to section 4.5 and 4.6," and substituting "Subject to sections 4.4.1, 4.5 and 4.6,". 6. The following section is added: Principal regulator for discretionary exemption application made with an application for registration 4.4.1 Subject to sections 4.5 and 4.6, if a firm or individual makes an application for exemption from a requirement listed below in connection with an application for registration in the principal jurisdiction, the principal regulator for the application for exemption is the principal regulator as determined under section 4A.1: (a) a requirement in Parts 3 and 12 of NI 31-103; (b) a requirement in Part 2 of NI 33-109. 7. Section 4.5 is amended (a) in subsection (1), (i) by striking out "Subject to subsection (2)," and substituting "Subject to section 4.6 and subsection (2),", and (ii) by striking out "as determined under section 4.2, 4.3 or 4.4" and substituting "as determined under section 4.2, 4,3, 4.4 or 4.4.1", and (b) in subsection (2), (i) by striking out "If at any one time" and substituting "Subject to section 4.6, if at any one time", and (ii) by striking out "as determined under section 4.2, 4.3 or 4.4 or subsection (1), and substituting "as determined under section 4.2, 4.3, 4.4 or 4.4.1 or subsection (1)". 8. Section 4.7(1) is amended by adding "and the exemption is in effect" at the end of paragraph (b). 9. The following Part is added: PART 4A – REGISTRATION Principal regulator for registration 4A.1 (1) Subject to subsections (2) and (3) and section 4A.2, for the purposes of this Part, the principal regulator is the securities regulatory authority or regulator of the jurisdiction in which, (a) for a firm, the firm’s head office is located, or (b) for an individual, the individual’s working office is located. 4A.1(2) The principal regulator for a foreign firm is the securities regulatory authority or regulator in the jurisdiction of Canada the firm identified (a) in item 2.2(b) of its most recently submitted Form 33-109F6, or (b) in its most recently submitted Form 33-109F5, if the change noted in that form relates to item 2.2(b) of Form 33-109F6.
- 3 -4A.1(3) The principal regulator for a foreign individual is the principal regulator for the individual’s sponsoring firm. Discretionary change of principal regulator for registration 4A.2 If a securities regulatory authority or regulator gives written notice that specifies a principal regulator for the firm or individual, the securities regulatory authority or regulator specified in the notice is the principal regulator for the firm or individual as of the later of (a) the date the firm or individual receives the notice, and (b) the effective date specified in the notice, if any. Firm registration 4A.3(1) Subject to subsection (4), if a firm is registered in a category in its principal jurisdiction, the firm is registered in the same category in the local jurisdiction if (a) the firm has submitted a completed Form 33-109F6 in accordance with NI 33-109, and (b) in the case of a category for which securities legislation requires that the firm be a member of a self-regulatory organization, the firm is a member of the self-regulatory organization or is exempt from the requirement. 4A.3(2) A firm that makes a submission under subsection (1)(a) must pay the required fee at the time it makes the submission. 4A.3(3) For the purpose of subsection (1), the firm may make the submission by giving it to the principal regulator. 4A.3(4) Subsection (1) does not apply to a firm registered in the category of restricted dealer. Individual registration 4A.4(1) If an individual acting on behalf of a sponsoring firm is registered in a category in his or her principal jurisdiction, the individual is registered in the same category in the local jurisdiction if (a) the sponsoring firm is registered in the local jurisdiction in the same category as in the firm’s principal jurisdiction, (b) the individual has submitted a completed Form 33-109F2 or a completed Form 33-109F4 in accordance with NI 33-109, and (c) in the case of a category for which securities legislation requires that the individual be a member or an approved person of a self-regulatory organization, the individual is a member or approved person of the self-regulatory organization or is exempt from the requirement.
- 4 -4A.4(2) An individual who makes a submission under subsection (1)(b) must pay the required fee at the time the individual makes the submission. Terms and conditions of registration 4A.5 (1) If a firm or individual is registered in the same category in the principal jurisdiction and in the local jurisdiction, a term, condition, restriction or requirement imposed on the registration in the principal jurisdiction applies as if it were imposed in the local jurisdiction. 4A.5(2) A term, condition, restriction or requirement that applies in the local jurisdiction under subsection (1) continues to apply until the earlier of the date (a) the securities regulatory authority or regulator that imposed the term, condition, restriction or requirement cancels or revokes it, or (b) the term, condition, restriction or requirement expires. Suspension 4A.6 If a firm’s or individual’s registration in the principal jurisdiction is suspended, the firm’s or individual’s registration in the local jurisdiction is suspended. Termination 4A.7 If a firm’s or individual’s registration in the principal jurisdiction is cancelled, revoked or terminated, as applicable, the firm’s or individual’s registration in the local jurisdiction is cancelled, revoked or terminated, as applicable. Surrender 4A.8 If a firm or individual is registered in the same category in the local jurisdiction and the principal jurisdiction, and the firm or individual applies to surrender the registration in the principal jurisdiction, the firm’s or individual’s registration in that category in the local jurisdiction is cancelled, revoked or terminated, as applicable, if the principal regulator accepts the firm’s or individual’s surrender of registration in the principal jurisdiction. Transition – terms and conditions in non-principal jurisdictions 4A.9 (1) Subject to subsection (2), section 4A.5 does not apply to a firm or individual until October 28, 2009 if the firm or individual was registered in the local jurisdiction before September 28, 2009. 4A.9(2) Section 4A.5 does not apply to a firm or individual after October 28, 2009 if (a) on or before October 28, 2009, the firm or individual applies to the securities regulatory authority or regulator for an exemption from section 4A.5, and (b) the securities regulatory authority or regulator has not issued a decision rejecting the application and the application has not been withdrawn. 4A.9(3) Subject to subsection (4), if a firm or individual was registered in the same category in the principal jurisdiction and the local jurisdiction before September 28, 2009, a term, condition, restriction or requirement imposed on the registration in the local jurisdiction before October 28, 2009, if any, does not apply to the firm or individual on or after October 28, 2009 unless the term, condition, restriction or requirement was (a) agreed to under a settlement agreement between the firm or individual and the securities regulatory authority or regulator, or
- 5 - (b) imposed in a decision relating to the firm or individual made by the securities regulatory authority or regulator following a hearing. 4A.9(4) If a firm or individual applies for an exemption under subsection (2), subsection (3) does not apply unless (a) the securities regulatory authority or regulator has issued a decision rejecting the application, or (b) the application has been withdrawn. Notice of principal regulator for foreign firm 4A.10(1) If a foreign firm was registered in a category in the local jurisdiction and another jurisdiction of Canada before September 28, 2009, the firm must submit the information required in item 2.2(b) of Form 33-109F6 by submitting a Form 33-109F5 on or before October 28, 2009. 4A.10(2) For the purposes of subsection (1), the foreign firm may make the submission by giving it to the principal regulator. 10. Appendix A is repealed. 11. Appendix B is amended by (a) repealing the text opposite "Prince Edward Island" and substituting "sections 94 (Prospectus required) and 95 (Filing prospectus without distribution)", (b repealing the text opposite "Yukon" and substituting "sections 94 (Prospectus required) and 95 (Filing prospectus without distribution)", (c) repealing the text opposite "Northwest Territories" and substituting "sections 94 (Prospectus required) and 95 (Filing prospectus without distribution)", and (d) repealing the text opposite "Nunavut" and substituting "sections 94 (Prospectus required) and 95 (Filing prospectus without distribution)". 12. Appendix C is repealed. 13. Appendix D is repealed and Appendix D attached to this Instrument is substituted. 14. This Instrument comes into force on September 28, 2009. 15. This Instrument may be cited as MSC Rule 2009-1.
APPENDIX D Equivalent provisions All references are to provisions of the Securities Act of the relevant jurisdiction unless otherwise noted. All references to ‘NI’ are to ‘National Instruments”. All references to ‘MI’ are to ‘Multilateral Instruments’. Provision British Alberta Saskatchewan Manitoba Québec Nova Columbia Scotia SEDAR Marketplace operation (only Parts 6, 7 – 11, as they apply to an ATS, and 13) Trading rules (only Parts 4 and 8 – 11) Use of client brokerage commissions Institutional trade NI 24-101 matching and settlement National registration database (NRD) Registration requirements Dealing s.2.1(1)(a) of NI 31-103 representative category Advising s.2.1(1)(b) of NI 31-103 representative category Associate advising s.2.1(1)(c) of NI 31-103 representative category 1 New Prince Newfoundland Yukon Northwest Nunavut Ontario Brunswick Edward and Labrador Territories Island NI 13-101 NI 21-101 NI 23-101 NI 23-102 NI 31-102 NI 31-103 (except as noted below) s.25(1)(b) s.25(3)(b) s.25(3)(c)
Provision British Alberta Saskatchewan Manitoba Québec Nova Columbia Scotia Ultimate designated s.2.1(1)(d) of ss.75(2) s.27(3) of Securities Act and Paragraph s.2.1(1)(d) of NI 31-103 person registration NI 31-103 (c) and s.2.1(1)(d) of NI 31-103 2 of s.149 75.1 of of Securities Securities Act and Act and s.2.1(1) s. 2.1(1)(d) (d) of NI of NI 31-31-103 103 Chief compliance s.2.1(1) ss.75(2) s.27(3) of Securities Act and Paragraph s.2.1(1)(e) of NI 31-103 officer registration (e) of NI 31- (c) and s.2.1(1)(e) of NI 31-103 2 of s.149 103 75.1 of of Securities Securities Act and Act and s.2.1(1) s.2.1(1) (e) of NI (e) of NI 31-103 31-103 Dealing s.3.15(2) of NI 31-103 n/a representative of a mutual fund must be approved person Employment, s.6.1 of NI 31-103 partnership or agency relationship ends Suspension of s.6.2 of NI 31-103 IIROC approval for individual Suspension of s.6.3 of NI 31-103 n/a MFDA approval for individual Sponsoring firm s.6.4 of NI 31-103 suspended 2 New Prince Newfoundland Yukon Northwest Nunavut Ontario Brunswick Edward and Labrador Territories Island s.87 of ss.26(2)(c) and s.87 of s.87 of s.87 of s.25(5) Securities 26.1 of Securities Securities Securities Act Securities Act and Act and Act and and s.2.1(1) Act and s.2.(1) s.2.1(1)(d) of NI s.2.1(1) (d) of NI 31- s.21(1) (d) of NI 31-103 (d) of NI 103 (d) of NI 31-103 31-103 31-103 s.87 of ss.26(2)(c) and s.87 of s.87 of s.87 of s.25(6) Securities 26.1 of Securities Securities Securities Act Securities Act and Act and s.2.1(1)(e) Act and and s.2.1(1)(e) Act and s.2.1(1) of NI 31-103 s.2.1(1) of NI 31-103 s.2.1(1) (e) of NI (e) of NI (e) of NI 31-31-103 31-103 103 s.3.15(2) of NI 31-103 s.29(3) s.29(1), paragraph 3 s.6.3 of NI 31-103 s.29(1), paragraph 3 s.29(2)
Provision British Alberta Saskatchewan Manitoba Québec Nova New Prince Newfoundland Yukon Northwest Nunavut Ontario Columbia Scotia Brunswick Edward and Labrador Territories Island Revocation of a s.6.6 of NI 31-103 s.29(5) suspended registration – individual Exception for s.6.7 of NI 31-103 s.29(6) individuals involved in a hearing Dealer and s.7.1(1) of NI 31-103 s.26(2) underwriter categories Adviser categories s.7.2(1) of NI 31-103 s.26(6) Investment fund s.7.3 of NI 31-103 s.25(4) manager category MFDA membership s.9.2 of NI 31-103 n/a s.9.2 of NI 31-103 for mutual fund dealers Suspension or s.10.2 of NI 31-103 s.29(1) revocation of paragraph 2 IIROC membership Suspension of s.10.3 of NI 31-103 n/a s.10.3 of NI 31-103 s.29(1), MFDA firm paragraph 2 membership Revocation of a s.10.5 of NI 31-103 s.29(5) suspended registration – firm Exception for firms s.10.6 of NI 31-103 s.29(6) involved in a hearing Provide records to s.11.6(1)(c) of NI 31-103 s.19(3) regulator Insurance – s.12.3 of NI 31-103 n/a s.12.3 of NI 31-103 scholarship plan dealer only 3
Provision British Alberta Saskatchewan Manitoba Québec Nova New Prince Newfoundland Yukon Northwest Nunavut Ontario Columbia Scotia Brunswick Edward and Labrador Territories Island Complaint handling s.13.15 of NI 31-103 s.168.1.1 s.13.15 of NI 31-103 of Securities Act and s.13.15 of NI 31-103 Dispute resolution s.13.16 of NI 31-103 s.168.1.3 s.13.16 of NI 31-103 service of Securities Act and s.13.16 of NI 31-103 Underwriting NI 33-105 conflicts Registrant NI 33-109 information Prospectus NI 41-101 disclosure (except as noted below) requirements Certificate of issuer s.5.3(1) of NI 41-101 s.58 Certificate of s.5.4(1) of NI 41-101 s.58 corporate issuer Certificate of issuer s.5.8 of NI 41-101 n/a involved in reverse takeover Certificate of s.5.9(1) of NI 41-101 s.59(1) underwriter Certificate of s.5.11(1) of NI 41-101 s.58 promoter Delivery of s.6.4 of NI 41-101 s.57(3) amendments Amendment to a s.6.5(1) of NI 41-101 s.57(1) preliminary prospectus 4
Provision British Alberta Saskatchewan Manitoba Québec Nova Columbia Scotia Amendment to a s.6.6(1) of NI 41-101 final prospectus Amendment to a s.6.6(2) of NI 41-101 final prospectus Regulator must s.6.6(3) of NI 41-101 issue receipt Regulator must not s.6.6(4) of NI 41-101 refuse a receipt Prohibition against s.6.6(5) of NI 41-101 distribution Distribution of s.16.1 of NI 41-101 preliminary prospectus and distribution list Lapse date s.17.2 of NI 41-101 Statement of rights s.18.1 of NI 41-101 Disclosure standards for mineral projects Short form prospectus distribution requirements Shelf prospectus requirements Post receipt pricing Rights offering requirements Resale of securities Standards of disclosure for oil and gas activities 5 New Prince Newfoundland Yukon Northwest Nunavut Ontario Brunswick Edward and Labrador Territories Island s.57(1) s.57(2) s.57(2.1) ss.57(2.1) and 61(3) s.57(2.2) ss.66 and 67 s.62 s.60 NI 43-101 NI 44-101 NI 44-102 NI 44-103 NI 45-101 NI 45-102 NI 51-101
Provision British Alberta Saskatchewan Manitoba Québec Nova Columbia Scotia Continuous disclosure obligations Publication of s.7.1 of NI 51-102 material change Accounting principles, auditing standards and reporting currency requirements Acceptable s.3.1 of NI 52-107 accounting principles Auditor oversight Certification of disclosure in annual and interim filings Audit committees Communication with beneficial owners System for electronic disclosure by insiders (SEDI) 6 New Prince Newfoundland Yukon Northwest Nunavut Ontario Brunswick Edward and Labrador Territories Island NI 51-102 (except as noted below) s.75 of Securities Act and s.3(1.1) of Regulation 1015 (General) NI 52-107 (except as noted below) s.2(1) of Regulation 1015 (General) and s.3.1 of NI 52-107 NI 52-108 NI 52-109 NI 52-110 NI 54-101 NI 55-102
Provision British Alberta Saskatchewan Manitoba Québec Nova Columbia Scotia Insider reporting for ss.87(2), (5) certain derivative and (6) transactions (EM) - Reporting requirement EM – Existing s.87.1 agreements which continue in force EM – Existing s.87(2) and agreements entered (6) into prior to becoming insider EM – Form and s.87(2), (5) timing of report and (6) of Securities Act and s. 155.1(1), (2) and (3) of Securities Rules EM – Form and s.87.1 of timing of report for Securities existing agreements Act and s. 155.1(4) of Securities Rules EM – Form and s.87 (2) and timing of report for (6) of existing agreements Securities entered into prior to Act and s. becoming insider 155.1(1) and (3) of Securities Rules 7 New Prince Newfoundland Yukon Northwest Nunavut Ontario Brunswick Edward and Labrador Territories Island s.2.1 of MI 55-103 s.2.1 of MI 55-103 s.2.3 of MI 55-103 s.2.3 of MI 55-103 s.2.4 of MI 55-103 s.2.4 of MI 55-103 s.3.1 of MI 55-103 s.3.1 of MI 55-103 s.3.2 of MI 55-103 s.3.2 of MI 55-103 s.3.3 of MI 55-103 s.3.3 of MI 55-103
Provision British Alberta Saskatchewan Manitoba Québec Nova New Prince Newfoundland Yukon Northwest Nunavut Ontario Columbia Scotia Brunswick Edward and Labrador Territories Island Disclosure of NI 58-101 corporate governance practices Protection of n/a MI 61-101 n/a MI 61-101 minority security holders in special transactions Early warning NI 62-103 reports and other take-over bid and insider reporting requirements Take-over bids and s.2.2(1) of MI 62-104 s.93.1(1) issuer bid requirements (TOB/IB) – Restrictions on acquisitions during take-over bid TOB/IB – s.2.3(1) of MI 62-104 s.93.1(4) Restrictions on acquisitions during issuer bid TOB/IB – s.2.4(1) of MI 62-104 s.93.2(1) Restrictions on acquisitions before take-over bid TOB/IB – s.2.5 of MI 62-104 s.93.3(1) Restrictions on acquisitions after bid 8
Provision British Alberta Saskatchewan Manitoba Québec Nova Columbia Scotia TOB/IB – s.2.7(1) of MI 62-104 Restrictions on sales during formal bid TOB/IB – Duty to s.2.8 of MI 62-104 make bid to all security holders TOB/IB – s.2.9 of MI 62-104 Commencement of bid TOB/IB – Offeror’s s.2.10 of MI 62-104 circular TOB/IB – Change s.2.11(1) of MI 62-104 in information TOB/IB – Notice of s.2.11(4) of MI 62-104 change TOB/IB – Variation s.2.12(1) of MI 62-104 of terms TOB/IB – Notice of s.2.12(2) of MI 62-104 variation 9 New Prince Newfoundland Yukon Northwest Nunavut Ontario Brunswick Edward and Labrador Territories Island s.97.3(1) s.94 s.94.1(1) and (2) s.94.2(1) - (4) of Securities Act and s.3.1 of OSC Rule 62-504 s.94.3(1) s.94.3(4) of Securities Act and s.3.4 of OSC Rule 62-504 s.94.4(1) s.94.4(2) of Securities Act and s.3.4 of OSC Rule 62-504
Provision British Alberta Saskatchewan Manitoba Québec Nova Columbia Scotia TOB/IB – Expiry s.2.12(3) of MI 62-104 date of bid if notice of variation TOB/IB – No s.2.12(5) of MI 62-104 variation after expiry TOB/IB – Filing s.2.13 of MI 62-104 and sending notice of change or notice of variation TOB/IB – Change s.2.14(1) of MI 62-104 or variation in advertised take-over bid TOB/IB – Consent s.2.15(2) of MI 62-104 of expert – bid circular TOB/IB – Delivery s.2.16(1) of MI 62-104 and date of bid documents TOB/IB – Duty to s.2.17 of MI 62-104 prepare and send directors’ circular TOB/IB – Notice of s.2.18 of MI 62-104 change 10 New Prince Newfoundland Yukon Northwest Nunavut Ontario Brunswick Edward and Labrador Territories Island s.94.4(3) s.94.4(5) s.94.5 s.94.6(1) s.94.7(1) s.94.8(1) s.95(1) – (4) of Securities Act and s.3.2 of OSC Rule 62-504 s.95.1(1) and (2) of Securities Act and s.3.4 of OSC Rule 62-504
Provision British Alberta Saskatchewan Manitoba Québec Nova Columbia Scotia TOB/IB – Filing s.2.19 of MI 62-104 directors’ circular or notice of change TOB/IB – Change s.2.20(2) of MI 62-104 in information in director’s or officer’s circular or notice of change TOB/IB – Form of s.2.20(3) of MI 62-104 director’s or officer’s circular TOB/IB – Send s.2.20(5) of MI 62-104 director’s or officer’s circular or notice of change to securityholders TOB/IB – File and s.2.20(6) of MI 62-104 send to offeror director’s or officer’s circular or notice of change TOB/IB – Form of s.2.20(7) of MI 62-104 notice of change for director’s or officer’s circular TOB/IB – Consent s.2.21 of MI 62-104 of expert, directors’ circular, etc. 11 New Prince Newfoundland Yukon Northwest Nunavut Ontario Brunswick Edward and Labrador Territories Island s.95.2 s.96(2) s.96(3) of Securities Act and s.3.3 of OSC Rule 62-504 s.96(5) s.96(6) s.96(7) of Securities Act and s.3.4 of OSC Rule 62-504 s.96.1
Provision British Alberta Saskatchewan Manitoba Québec Nova New Prince Newfoundland Yukon Northwest Nunavut Ontario Columbia Scotia Brunswick Edward and Labrador Territories Island TOB/IB – Delivery s.2.22(1) of MI 62-104 s.96.2(1) and date of offeree issuer’s documents TOB/IB – s.2.23(1) of MI 62-104 s.97(1) Consideration TOB/IB – Variation s.2.23(3) of MI 62-104 s.97(3) of consideration TOB/IB – s.2.24 of MI 62-104 s.97.1(1) Prohibition against collateral agreements TOB/IB – s.2.26(1) of MI 62-104 s.97.2(1) Proportionate take up and payment TOB/IB – s.2.27(1) of MI 62-104 s.97.3(1) Financing arrangements TOB/IB – s.2.28 of MI 62-104 s.98(1) Minimum deposit period TOB/IB – s.2.29 of MI 62-104 s.98(2) Prohibition on take up TOB/IB – s.2.32 of MI 62-104 s.98.3 Obligation to take up and pay for deposited securities TOB/IB – Return of s.2.33 of MI 62-104 s.98.5 deposited securities TOB/IB – News s.2.34 of MI 62-104 s.98.6 release on expiry of bid TOB/IB – Language s.3.1 of MI 62-104 n/a of bid documents 12
Provision British Alberta Saskatchewan Manitoba Québec Nova Columbia Scotia TOB/IB – Filing of s.3.2(1) of MI 62-104 documents by offeror TOB/IB – Filing of s.3.2(2) of MI 62-104 documents by offeree issuer TOB/IB – Time s.3.2(3) of MI 62-104 period for filing TOB/IB – Filing of s.3.2(4) of MI 62-104 subsequent agreement TOB/IB – s.3.3(1) of MI 62-104 Certification of bid circulars TOB/IB – All s.3.3(2) of MI 62-104 directors and officers sign TOB/IB – s.3.3(3) of MI 62-104 Certification of directors’ circular TOB/IB – s.3.3(4) of MI 62-104 Certification of inidvidual director’s or officer’s circular TOB/IB – s.3.4(1) of MI 62-104 Obligation to provide security holder list 13 New Prince Newfoundland Yukon Northwest Nunavut Ontario Brunswick Edward and Labrador Territories Island s.98.7 of Securities Act and s.5.1(1) of OSC Rule 62-504 s.5.1(2) of OSC Rule 62-504 s.5.1(3) of OSC Rule 62-504 s.5.1(4) of OSC Rule 62-504 s.99(1) s.99(2) s.99(3) s.99(4) s.99.1(1)
Provision British Alberta Saskatchewan Manitoba Québec Nova Columbia Scotia TOB/IB – s.3.4(2) of MI 62-104 Application of Canada Business Corporations Act TOB/IB – Early s.5.2 of MI 62-104 Warning TOB/IB – s.5.3 of MI 62-104 Acquisitions during bid TOB/IB – Copies of s.5.5 of MI 62-104 news release and report Multi-jurisdictional disclosure system Mutual fund prospectus disclosure Amendment to a s.2.2.1(1) of NI 81-101 preliminary simplified prospectus Delivery of s.2.2.2 of NI 81-101 amendments 14 New Prince Newfoundland Yukon Northwest Nunavut Ontario Brunswick Edward and Labrador Territories Island s.99.1(2) s.102.1(1) – (4) of Securities Act and s.7.1 of OSC Rule 62-504 s.102.2(1) and (2) of Securities Act and s.7.2(1) of OSC Rule 62-504 s.7.2(3) of OSC Rule 62-504 NI 71-101 NI 81-101 (except as noted below) s.57(1) s.57(3)
Provision British Alberta Saskatchewan Manitoba Québec Nova Columbia Scotia Amendment to a s.2.2.3(1) of NI 81-101 simplified prospectus Amendment to a s.2.2.3(2) of NI 81-101 simplified prospectus Regulator must s.2.2.3(3) of NI 81-101 issue receipt Regulator must not s.2.2.3(4) of NI 81-101 refuse a receipt Lapse date s.2.5 of NI 81-101 Statement of rights s.2.8 of NI 81-101 Distribution of s.3.2(3) of NI 81-101 preliminary simplified prospectus and distribution list Certificate of s.5.1.3(1) of NI 81-101 mutual fund Certificate of s.5.1.6(1) of NI 81-101 promoter Certificate of s.5.1.7(1) of NI 81-101 corporate mutual fund Mutual fund requirements Commodity pools Mutual fund sales practices Investment fund continuous disclosure Independent review committee 15 New Prince Newfoundland Yukon Northwest Nunavut Ontario Brunswick Edward and Labrador Territories Island s.57(1) s.57(2) s.57(2.1) ss.57(2.1) and 61(3) s.62 s.60 ss.66 and 67 s.58 s.58 s.58 NI 81-102 NI 81-104 NI 81-105 NI 81-106 NI 81-107
Provision British Alberta Saskatchewan Manitoba Québec Nova Columbia Scotia Registration Dealer/ ss.34(1)(a) ss. s.27(2)(a) ss.6(1)(a) ss.148 and ss.31(1) underwriter and 34(1)(d) 75(1) (a) and 6(1)(d) 149 and 31(4) registration and requirement 75(2)(a) Adviser registration s.34(1)(b) ss. s.27(2)(b) ss.6(1)(b) ss.148 and ss.31(2) requirement 75(1) (b) 149 and 31(4) and 75(2)(b) Investment fund s.34(1)(c) s.75(1) (c) s.27(2)(c) s.6(1)(c) s.148 ss.31(3) manager registration and 31(4) requirement Compensation or s.23 of s.28 of s.23 of n/a s.196 of s.27 of contingency trust Securities ASC Regulations Securities General fund Rules Rules Regulation Securities (General) Rules Requirements when using registration exemptions Offering s.3.9(5) of NI 45-106 memorandum in required form Requirement to file s.3.9(14) of NI 45-106 offering memorandum within prescribed time Trading in Securities Generally Registered dealer s.51 n/a n/a s.70 n/a n/a acting as principal Disclosure of s.52 n/a investor relations activities 16 New Prince Newfoundland Yukon Northwest Nunavut Ontario Brunswick Edward and Labrador Territories Island ss.45(a) and ss.86(1) s.26(1)(a) ss. ss.486(1)(a) ss.486(1) sss.25(1) 45(d) (a) and 86(1) and 86(2) (a) and and (a2) 86(2) (a) 86(2) and 86(2) s.45(b) s.86(1) s.26(1)(cb) s.86(1) s.86(1)(b) 4 s.86(1) s.25(13)(c) (b) (b) (b) 4 s.45(c) s.86(3) s.26(1)(c) s.86(3) s.86(3) s.86(3) s.25(4) n/a s.98 of Regulation n/a s.110 of Regulation 1015 (General) n/a n/a n/a s.40 n/a s.39 s.62 n/a
Provision British Alberta Saskatchewan Manitoba Québec Nova Columbia Scotia Use of name of s.53 s.99 s.49 s.73 n/a s.49 another registrant Trading in Exchange Contracts Trading exchange s.58 s.106 & s.40 n/a contracts on an 107 exchange in jurisdiction Trading exchange s.59 s.108 & s.41 n/a contracts on an 109 exchange outside jurisdiction Prospectus Prospectus s.61 s.110 s.58 s.37 ss.11 and s.58 requirement 12 Contents of s.63 s.113 s.61 s.41 ss.13 and s.61 prospectus (full, 20 true & plain disclosure) Waiting period s.78 s.123 s.73 s.38 ss.21 & 22 s.70 communications Obligation to send s.83 s.129 s.79 s.64 ss.29, 30, s.76 prospectus 31 and 32 Requirements when using prospectus exemptions Offering 2.9(5) of NI 45-106 memorandum in required form Requirement to file s.2.9(14) of NI 45-106 offering memorandum within prescribed time 17 New Prince Newfoundland Yukon Northwest Nunavut Ontario Brunswick Edward and Labrador Territories Island s.63 n/a s.44 n/a s.43 s.70.1 n/a s.70.2 n/a s.71(1) s.94 s.54 s.94 s.94 s.94 s.53 s.74 s.99 s.57 s.99 s.99 s.99 s.56 s.82 s.97 s.66 s.97 s.97 s.97 s.65(2) s.88 s.101(1) s.72 s.101 s.101(1) s.101(1) s.71(1) (1) n/a n/a
Provision British Alberta Saskatchewan Manitoba Québec Nova Columbia Scotia Filing report of ss.6.1 and s.129.1 of ss.6.1 and 6.3 of s.7 of exempt distribution 6.3 of NI ASC Rules NI 45-106 Regulation 45-106 (General) and ss.6.1 and ss.6.1 and 6.3 of and 6.3 of NI 45-106 NI 45-106 Continuous Disclosure Voting if proxies s.118 s.157 s.96 s.105 n/a s.93 provided Shares in name of s.182 of s.104 s.55 s.79 ss.164 and s.55 registrant not to be Securities 165 voted Rules Insider Reporting Insider reports – s.87(2) s.182(1) s.116(1) s.109 s.96 ss.113(1) filing upon other than as of becoming an insider it applies to Securities of a reporting issuer a related Act and financial 172 of instrument General Securities Rules Insider reports – s.87 (5) s.182(2) s.116(2) s.109 s.97 s.113(2) filing upon other than as acquisition or it applies to change in securities a related financial instrument Insider reports – s.87 (6) s.182(3) s.116(3) s.109 s.98 s.113(4) filing upon being other than as deemed an insider it applies to a related financial instrument 18 New Prince Newfoundland Yukon Northwest Nunavut Ontario Brunswick Edward and Labrador Territories Island ss.6.1 and 6.3 of NI 45-106 ss.102 and n/a s.88 n/a s.87 103(2) s.103(3) – s.163 s.50 s.163 s.163 s.163 s.49 (7) s.135(1) s.1(1) of s.108(1) s.1(1) of s.2(1) of Local Rule s.107(1) Local Local Local Rule 55-501 Rule 55- Rule 55- 55-501 501 501 s.135(2) s.1(2) of s.108(2) s.1(2) of s.2(2) of Local Rule s.107(2) Local Local Local Rule 55-501 Rule 55- Rule 55- 55-501 501 501 s.135(3) s.1(3) of s.108(3) s.1(3) of s.2(3) of Local Rule s.107(3) Local Local Local Rule 55-501 Rule 55- Rule 55- 55-501 501 501
Provision British Alberta Saskatchewan Manitoba Québec Nova Columbia Scotia Time periods for s.155.1 of s.190 of s.165(1) of s.109 ss.171, s.113 filing insider reports Securities ASC Regulations 171.1, 172 Rules other Rules & 174 of than as it (General) Securities applies to a Regulation related financial instrument Transfer reports n/a s.182(2) s.117 n/a s.102 s.116 Nominee reports n/a s.183 s.118 n/a s.103 s.117 Take-Over Bids and Issuer Bids Directors must s.99(1) s.160 s.100 s.90 ss.113 & 97 make 114 recommendation on bid Investment Funds – Self Dealing Investments of s.121 s.185 s.120 n/a s.119 mutual funds Indirect investment s.122 s.186 s.121 n/a s.120 Fees on investment s.124 s.189 s.124 n/a s.123 for mutual fund 19 New Prince Newfoundland Yukon Northwest Nunavut Ontario Brunswick Edward and Labrador Territories Island s.5 of Local s.1 of s.108 s.1 of s.2 of Local Rule s.107 Rule 11-502 Local Local Local Rule 55-501 Rule 55- Rule 55- 55-501 501 501 s.136 n/a s.109 n/a s.2(4) of n/a s.108 of Local Rule Securities 55-501 Act and s.167 of Regulation 1015 (General) n/a s.110 n/a s.2(5) of n/a s.109 of Local Rule Securities 55-501 Act and s.168 of Regulation 1015 (General) s.124 s.108(1) s.92 s.108(1) s.108(1) s.108 (1) ss.95 and 96 s.137 n/a s.112 n/a s.111 s.138 n/a s.113 n/a s.112 s.141 n/a s.116 n/a s.115
Provision British Alberta Saskatchewan Manitoba Québec Nova Columbia Scotia Report of mutual s.126 s.191 s.126 n/a s.125 fund manager Restrictions on n/a s.126 transactions with responsible persons Principal Trading n/a s.193 s.128 n/a s.127 Prohibitions General Public inspection of s.169(3) s.221 s.152(2) s.134 n/a s.148 records (3) (1) 20 New Prince Newfoundland Yukon Northwest Nunavut Ontario Brunswick Edward and Labrador Territories Island s.143 n/a s.118 n/a s.117 n/a s.119 n/a n/a s.120 n/a s.119 s.198(3) s.26(1) s.140(1) s.26 s.26 s.26(1) s. 140(1) (1) (1)
You are being directed to the most recent version of the statute which may not be the version considered at the time of the judgment.