BCN 2004/50 - Adoption of amendments to National Instrument 44-101 Short Form Prospectus Distributions and related documents [BCN - Lapsed]
- 44-101 - Short Form Prospectus Distributions [NI - Rescinded]
- 44-101CP - Short Form Prospectus Distributions [CP - Rescinded]
- 44-101F1 - Short Form Prospectus Distributions - AIF [F - Rescinded]
- 44-101F2 - Short Form Prospectus Distributions - MD&A [F - Rescinded]
- 44-101F3 - Short Form Prospectus [F - Rescinded]
Substance and purpose of the amendments
Effective January 4, 2005, the Canadian Securities Administrators are amending National Instrument 44-101 Short Form Prospectus Distributions (NI 44-101), Form 44-101F3 Short Form Prospectus, and Companion Policy 44-101CP.
NI 44-101 required all issuers to prepare their financial statements using Canadian generally accepted accounting principles and have them audited using Canadian generally accepted auditing standards. However, National Instrument 52-107 Acceptable Accounting Principles, Auditing Standards and Reporting Currency (NI 52-107), which came into force on March 30, 2004, permits issuers to prepare their financial statements using foreign generally accepted accounting principles and audit them using foreign generally accepted auditing standards, in certain circumstances.
The amendments to NI 44-101 are minor, technical amendments that make the financial statement requirements in NI 44-101 consistent with NI 52-107. We will be publishing a more significant proposal to replace NI 44-101 with a new version shortly.
We first published the proposed amendments on January 30, 2004. The comment period expired on April 29, 2004. On October 22, 2004 we published advance notice that, subject to government approval, we expected to adopt the amendments effective January 4, 2005 (BCN 2004/39).
You may refer questions to:
Senior Legal Counsel
Legal Services, Corporate Finance
British Columbia Securities Commission
(800) 373-6393 (in B.C. and Alberta)
December 31, 2004
Douglas M. Hyndman
- National Instrument 44-101 Short Form Prospectus Distributions
- Form 44-101F3 Short Form Prospectus
- Companion Policy 44-101CP Short Form Prospectus Distributions
- National Instrument 52-107 Acceptable Accounting Principles, Auditing Standards and Reporting Currency
This Notice may refer to other documents. These documents can be found at the B.C. Securities Commission public website at www.bcsc.bc.ca in the Policies & Instruments or Historical Policies & Instruments sections of the website.