Securities Law

BCN 2006/20 - Advance Notice of Amendments to NI 51-102, Form 51-102F1, Form 51-102F2, Form 51-102F3, Form 51-102F4, Form 51-102F5, Form 51-102F6, and 51-102CP, NI 52-107, NI 71-102, 71-102CP, NI 44-101, and 44-101F1 [BCN - Lasped]

Published Date: 2006-10-13
Rescinded Date: 2012-05-30
Related Document(s):

Concurrently Published:

In the attached notice, the Canadian Securities Administrators announce the expected adoption of amendments to

  • National Instrument 51-102 Continuous Disclosure Obligations
  • Form 51-102F1, Form 51-102F2, Form 51-102F3, Form 51-102F4, Form 51-102F5, and Form 51-102F6
  • Companion Policy 51-102CP Continuous Disclosure Obligations
  • National Instrument 52-107 Acceptable Accounting Principles, Auditing Standards and Reporting Currency
  • National Instrument 71-102 Continuous Disclosure and Other Exemptions relating to Foreign Issuers (NI 71-102)
  • Companion Policy 71-102CP Continuous Disclosure and Other Exemptions relating to Foreign Issuers and
  • National Instrument 44-101 Short Form Prospectus Distributions and Form 44-101F1 Short Form Prospectus

When the Commission formally adopts the amendments to NI 51-102 and its related documents, we also intend to revoke the following local instruments that will become obsolete:

  • BC Instrument 51-507 Venture Issuers Traded on Certain Foreign Markets
  • BC Instrument 51-508 Exemption for Interim Periods in Non-standard Financial Years
  • BC Interpretation Note 52-703 Use of Currencies in Material filed with Securities Regulatory Authorities

 

When the amendments to NI 51-102 and its related documents come into force, we also plan to replace BC Instrument 51-801 Implementing National Instrument 51-102 Continuous Disclosure Obligations and National Instrument 52-107 Acceptable Accounting Principles, Auditing Standards and Reporting Currencywith a new, narrower implementing instrument that will exempt an issuer (other than an investment fund) from certain financial reporting requirements in the Securities Rules, provided the issuer complies with National Instrument 52-107 Acceptable Accounting Principles, Auditing Standards and Reporting Currency.

 

The Commission adopted National Instrument 71-102 Continuous Disclosure and Other Exemptions relating to Foreign Issuers as an exemption order rather than as a commission rule. Because of this, instead of adopting amendments to NI 71-102 as the rest of the CSA will do, we will revoke it and will replace it with a new NI 71-102 that reflects the amendments discussed in the CSA Advance Notice. We will similarly revoke and replace the companion policy to 71-102. 

October 13, 2006

Douglas M. Hyndman
Chair

 

Ref:      National Instrument 51-102 Continuous Disclosure Obligations
Form 51-102F1, Form 51-102F2, Form 51-102F3, Form 51-102F4, Form 51-102F5, Form 51-102F6
Companion Policy 51-102CP Continuous Disclosure Obligations
National Instrument 52-107 Acceptable Accounting Principles, Auditing Standards and Reporting Currency
National Instrument 71-102 Continuous Disclosure and Other Exemptions relating to Foreign Issuers 
Companion Policy 71-102CP Continuous Disclosure and Other Exemptions relating to Foreign Issuers
National Instrument 44-101 Short Form Prospectus Distributions
Form 44-101F1 Short Form Prospectus
BC Instrument 51-507 Venture Issuers Traded on Certain Foreign Markets
BC Instrument 51-508 Exemption for Interim Periods in Non-standard Financial Years, and
BC Interpretation Note 52-703 Use of Currencies in Material filed with Securities Regulatory Authorities
BC Instrument 51-801 Implementing National Instrument 51-102 Continuous Disclosure Obligations and 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.