NIN 97/52 - Non-Payment of SEDAR Annual Filing Service Charges [NIN - Rescinded]

SEDAR is now mandatory for most reporting issuers in Canada. Over the past 10 months, thousands of reporting issuers have filed issuer profiles with SEDAR, either directly or through filing agents. A significant number of reporting issuers, however, have not paid the required SEDAR annual filing service charges in respect of those issuer profiles.

In an attempt to treat all reporting issuers equitably, the Canadian Securities Administrators ("CSA") have decided to take certain steps to enforce payment of SEDAR annual filing service charges.

The CSA have identified two distinct situations where there is a payment deficiency. The first is where

1. an issuer profile has been filed with SEDAR;

2. no other filings have been made against the issuer profile; and

3. payment of the issuer’s SEDAR annual filing service charges is delinquent by more than 90 days.

In these circumstances, the issuer profiles will be removed from SEDAR without further notice. It is believed that most of these profiles are duplicates or are otherwise not intended for use by the issuer.

The second situation is where:

1. an issuer profile has been filed with SEDAR;

2. other filings have been made against the issuer profile; and

3. payment of the issuer’s SEDAR annual filing service charges is delinquent by more than 90 days.

Issuers in this category will be placed on the list of defaulting issuers in those jurisdictions in which the issuer is a reporting issuer, provided the jurisdictions in question have mandated the use of SEDAR.

As noted above, these steps have been taken to try to ensure that SEDAR costs are distributed equitably among users of the system. Please direct any questions you may have to

Andrew Richardson
Manager, Statutory Filings
British Columbia Securities Commission
1100 - 865 Hornby Street
Vancouver, British Columbia
V6Z 2H4

Telephone: (604) 899-6730
Fax: (604) 899-6506

or

Jennifer Dahms
CDS INC. (SEDAR)
8th Floor, 609 Granville Street
Vancouver, British Columbia
V7Y 1J8

Telephone: (604) 631-6091
Fax: (604) 631-6066

DATED at Vancouver, British Columbia, on December 17, 1997

Douglas M. Hyndman
Chair