5 - Ongoing Requirements for Issuers and Insiders

51-102CP Continuous Disclosure Obligation [CP - Rescinded] - For financial years beginning on or after January 1, 2011
Published December 30, 2010
Effective January 1, 2011
Rescinded/Lapsed February 11, 2013
View PDF of 51-102CP Continuous Disclosure Obligation [CP] - For financial years beginning on or after January 1, 2011  PDF


Concurrently Published
This is an unofficial consolidation of Companion Policy 51-102CP Continuous Disclosure Obligations reflecting amendments made effective January 1, 2011 in connection with Canada’s changeover to IFRS. The amendments apply for financial periods relating to financial years beginning on or after January 1, 2011. This document is for reference purposes only and is not an official statement of the law. 


PART 1  INTRODUCTION AND DEFINITIONS
1.1 Introduction and Purpose
1.2 Filing Obligations
1.3 Corporate Law Requirements
1.4 Definitions
1.5 Plain Language Principles
1.6 Signature and Certificates
1.7 Audit Committees
1.8 Acceptable Accounting Principles and Auditing Standards
1.9 Ordinary Course of Business
1.10 Material Deficiencies

PART 2  FOREIGN ISSUERS AND INVESTMENT FUNDS
2.1 Foreign Issuers
2.2 Investment Funds

PART 3  FINANCIAL STATEMENTS
3.1 Financial Year
3.2 Audit of Comparative Annual Financial Statements
3.3 Filing Deadline for Annual Financial Statements and Auditor’s Report
3.4 Auditor Involvement with an Interim Financial Report
3.5 Delivery of Financial Statements
3.6 Comparative Interim Financial Information After Becoming a Reporting Issuer
3.7 Change in Year-End
3.8 Reverse Takeovers
3.9 Change in Corporate Structure
3.10 Change of Auditor

PART 4  DISCLOSURE AND PRESENTATION OF FINANCIAL INFORMATION
4.1 Disclosure of Financial Information
4.2 Non-GAAP Financial Measures
4.3 Presentation of Financial Information

PART 4A  FORWARD-LOOKING INFORMATION
4A.1 Application
4A.2 Reasonable Basis
4A.3 Material Forward-Looking Information
4A.4 Location of Disclosure
4A.5 Disclosure of Cautionary Language and Material Risk Factors
4A.6 Disclosure of Material Factors or Assumptions
4A.7 Date of Assumptions
4A.8 Time Period

PART 5  MD&A
5.1 Delivery of MD&A
5.2 Additional Information for Venture Issuers Without Significant Revenue
5.3 Disclosure of Outstanding Share Data
5.4 Additional Disclosure for Equity Investees
5.5 Previously Disclosed Material Forward-Looking Information

PART 6  AIF
6.1 Additional and Supporting Documentation
6.2 AIF Disclosure of Asset-backed Securities

PART 7  MATERIAL CHANGE REPORTS
7.1 Publication of News Release

PART 8  BUSINESS ACQUISITION REPORTS
8.1 Obligations to File a Business Acquisition Report
8.2 Significance Tests
8.3 Optional Significance Tests
8.4 Financial Statements of Related Businesses
8.5 Application of the Significance Tests for Multiple Investments in the Same Business
8.6 Preparation of Divisional and Carve-out Financial Statements
8.7 Preparation of Pro Forma Financial Statements Giving Effect to Significant Acquisitions
8.7.1 Financial Year End Changed
8.8 Relief from the Requirement to Audit Operating Statements of an Oil and Gas Property
8.9 Exemptions From Requirement for Financial Statements in a Business Acquisition Report
8.10 Audits and Auditor Review of Financial Statements of an Acquired Business

PART 9  PROXY SOLICITATION AND INFORMATION CIRCULARS
9.1  Beneficial Owners of Securities
9.2 Prospectus-level Disclosure in Certain Information Circulars
9.3 Proxy Solicitations Made to the Public by Broadcast, Speech or Publication

PART 10  ELECTRONIC DELIVERY OF DOCUMENTS
10.1 Electronic Delivery of Documents

PART 11  ADDITIONAL DISCLOSURE REQUIREMENTS
11.1 Additional Filing Requirements
11.2 Re-filing Documents or Re-stating Financial Information

PART 12  FILING OF CERTAIN DOCUMENTS
12.1 Statutory or Regulatory Instruments
12.2 Contracts that Affect the Rights or Obligations of Securityholders
12.3 Material Contracts

PART 13  EXEMPTIONS
13.1 Prior Exemptions and Waivers

PART 14  TRANSITION
14.1 Transition – Application of Amendments

APPENDIX A –
EXAMPLES OF FILING REQUIREMENTS FOR CHANGES IN THE YEAR END