NIN 95/31 - Form 12A and Form 14A Summary Prospectus Disclosure System Amendments to Local Policy Statement 3-02 [NIN - Rescinded]

Published Date:	1995-07-28
Effective Date:	1995-07-27

The Commission is publishing amendments to Local Policy Statement 3-02 - Prospectus Filing Requirements, together with Blanket Order #95/3 and Blanket Order #95/4, to permit the use of the Summary Prospectus Disclosure System by natural resource issuers that are permitted to use Form 14A - Information Required in Prospectus of a Natural Resource Issuer, effective August 1, 1995. This notice provides background to the LPS 3-02 amendment and the BORs.

Part 11 of LPS 3-02 sets out the rules for the use of the Form 12A Summary Prospectus Disclosure System by junior industrial issuers who are permitted to use Form 12A - Information Required in Prospectus of a Junior Industrial Issuer (see NIN#95/4). BOR#95/1 permits these issuers to use a Form 12A summary prospectus and base disclosure document prepared in accordance with Part 11 of LPS 3-02. In April 1995, the Superintendent of Brokers announced that the Summary Prospectus Disclosure System would be made available to natural resource issuers permitted to use Form 14A, at the time that Form 14A becomes effective (August 1, 1995, see NIN#95/17). Accordingly, the amendments to Part 11 of LPS 3-02 expand the system to natural resource issuers who are permitted to use Form 14A. The changes made to Part 11 of LPS 3-02 have been blacklined.

BOR#95/3 replaces BOR#95/1 (which is revoked by BOR#95/4). BOR#95/3 permits a junior industrial issuer that is permitted to file a Form 12A prospectus and a natural resource issuer that is permitted to file a Form 14A prospectus to use a summary prospectus and base disclosure document, in accordance with the requirements set out in Part 11 (as amended) of LPS 3-02.

The Summary Prospectus Disclosure System for Form 12A and Form 14A issuers consists of a summary prospectus prepared in accordance with the requirements set out in the Form 12A or Form 14A summary prospectus, respectively, and a base disclosure document prepared in accordance with the requirements set out in Form 12A or Form 14A, respectively. The base disclosure document is incorporated by reference into and deemed to form part of the summary prospectus.

DATED at Vancouver, British Columbia, on July 27, 1995.

Douglas M. Hyndman
Chair

References: LPS 3-02
BOR#95/1
BOR#95/3
BOR#95/4
NIN#95/4
NIN#95/17
Form 12A
Form 14A