Securities Law

BCN 2005/59 - Adoption of National Instrument 43-101Standards of Disclosure for Mineral Projects, Form 43-101F1, and Companion Policy 43-101CP [BCN - Lapsed]

Published Date: 2005-12-20
Rescinded Date: 2012-05-31
Related Document(s):

Concurrently Published:

Effective December 30, 2005, the British Columbia Securities Commission, together with the other Canadian Securities Administrators (CSA), are repealing the following instruments, which came into effect on February 1, 2001:

  • National Instrument 43-101 Standards of Disclosure for Mineral Projects (Previous NI 43-101) and
  • Form 43-101F1 Technical Report (Previous Form),

and replacing them with the following instruments, respectively:

  • National Instrument 43-101 Standards of Disclosure for Mineral Projects (New NI 43-101), and
  • Form 43-101F1 Technical Report (New Form).

In this Notice, New NI 43-101 and the New Form are collectively referred to as the Instrument. 

Also effective December 30, 2005, we are withdrawing the previous Companion Policy 43-101CP and replacing it with Companion Policy 43-101CP (the New Policy). The New Policy includes explanations, discussion and examples on how the CSA will interpret and apply the Instrument. At the same time, we are withdrawing CSA Staff Notice 43-302 Frequently Asked Questions - National Instrument 43-101 Standards of Disclosure for Mineral Projects.

Substance and purpose of the Instruments

We have been monitoring the operation of the Previous NI 43-101 and the Previous Form since adoption.  We identified some areas that were not operating as intended. We are making changes to:

  • reflect changes that have occurred in the mining industry,
  • correct errors,
  • simplify the drafting,
  • provide exemptions in specified circumstances, and
  • generally make the Instrument more user-friendly and practical. 

Prior publications
Details of the proposed changes were contained in a notice and request for comments published for a 90-day comment period on September 10, 2004. On October 7, 2005, we published advance notice that, subject to government approval, we expected to adopt the Instrument effective December 30, 2005 (BCN 2005/49). BCN 2005/49 also contained a summary of the comments and the CSA’s response to those comments.

Consequential amendments
Effective December 30, 2005, we will amend National Instrument 51-102 Continuous Disclosure Obligations by revising the definition of “mineral project” in that instrument so that it has the same meaning as in the New NI 43-101.

Questions

You may refer questions to:

Pamela Egger
Senior Legal Counsel
Corporate Finance
British Columbia Securities Commission
(604) 899-6867
(800) 373-6393 (in B.C. and Alberta)
pegger@bcsc.bc.ca

Gregory Gosson
Chief Mining Advisor
British Columbia Securities Commission
(604) 899-6867
(800) 373-6393 (in B.C. and Alberta)
pegger@bcsc.bc.ca

 

December 20, 2005

 

Douglas M. Hyndman
Chair

Ref:     BCN 2005/49 Advance Notice of Replacement of National Instrument 43-101 Standards of Disclosure for Mineral Projects, Form 43-101F1, and Company Policy 43-101CP
            
National Instrument 43-101 Standards of Disclosure for Mineral Projects
           
Form 43-101F1  
           
Companion Policy 43-101CP
            National Instrument 51-102 Continuous Disclosure Obligations

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 Commission Documents database or the Historical Documents database.