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Securities Law

BCN 2007/41 - Adoption of amendments to National Instrument 51-102 Continuous Disclosure Obligations and related consequential amendments [BCN - Lapsed]

Published Date: 2007-12-21
Rescinded Date: 2012-05-30
Related Document(s):

Concurrently Published:

Effective December 31, 2007, the Commission, together with the other Canadian Securities Administrators (CSA), is adopting amendments to

  • National Instrument 51-102 Continuous Disclosure Obligations
  • Form 51-102F2 Annual Information Form
  • Form 51-102F5 Information Circular
  • Companion Policy 51-102CP
  • National Instrument 52-107 Acceptable Accounting Principles, Auditing Standards and Reporting Currency
  • Multilateral Instrument 52-109 Certification of Disclosure in Issuers’ Annual and Interim Filings
  • National Instrument 58-101 Disclosure of Corporate Governance Practices

Also effective December 31, 2007, we are revoking and replacing National Instrument 71-102 Continuous Disclosure and Other Exemptions Relating to Foreign Issuers (NI 71-102), which British Columbia adopted as a blanket order, rather than as a rule.  The replaced NI 71-102 will incorporate the amendments other CSA members are adopting.

Substance and purpose of the Instruments
The amendments to the instruments:

  • remove the requirement for significant shareholders to disclose cease trade orders and similar orders issued against companies they were involved with
  • make housekeeping changes to update some provisions in the instruments
  • clarify some provisions in the instruments and forms
  • clarify what information an issuer needs to include in an annual information form if that issuer is not required to send an information circular to any of its shareholders

 

Prior publications

We published the amendments to NI 51-102 and the related consequential amendments for comment on March 29, 2007. On October 12, 2007, we published advance notice that subject to government approval, we expected to adopt the amendments to NI 51-102 and the related changes.

 

Consequential amendments

We are making consequential amendments to the other instruments we listed above for consistency with the amendments to NI 51-102.

 

Questions

You may refer questions to:

 

 

 

Michael Moretto

Manager

British Columbia Securities Commission

(604) 899-6767

(800) 373-6393 (in B.C. and Alberta)
mmoretto@bcsc.bc.ca

 

Ami Iaria

Senior Legal Counsel

British Columbia Securities Commission

(604) 899-6867

(800) 373-6393 (in B.C. and Alberta)
aiaria@bcsc.bc.ca

 

December 21, 2007

 

 

 

 

Douglas M. Hyndman
Chair


 

 

Ref:

Form 51-102 F2 Annual Information Form
Form 51-102 F5 Information Circular
Companion Policy 51-102CP
National Instrument 52-107 Acceptable Accounting Principles, Auditing Standards and Reporting Currency
Multilateral Instrument 52-109 Certification of Disclosure in Issuers' Annual and Interim Filings
National Instrument 58-101 Disclosure of Corporate Governance Practices
National Instrument 71-102 Continuous Disclosure and Other Exemptions Relating to Foreign Issuers
BCN 2007/14 Request for Comment on Proposed repeal and substitution of Form 51-102F6 Statement of Executive Compensation and Proposed Amendments to National Instrument 51-102 Continuous Disclosure Obligations, Form 51-102F2 and Form 51-102F5 and proposed consequential amendments to Multilateral Instrument 52-110 Audit Committees and National Instrument 58-101 Disclosure of Corporate Governance Practices
BCN 2007/32 Advance Notice of Amendments to National Instrument 51-102 Continuous Disclosure Obligations, Form 51-102F2 Annual Information Form, Form 51-102F5 Information Circular

 

This Notice may refer to other documents. These documents can be found at the B.C. Securities Commission public website atwww.bcsc.bc.cain the section Securities Law & Policy: Policies & Instruments.