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Securities Law

NIN 98/04 - The Year 2000 Challenge - Disclosure Issues for Exchange Issuers [NIN - Rescinded]

Published Date: 1998-01-30
Effective Date: 1998-01-27

Canadian Securities Administrators ("CSA") Staff Notice 41-301 and 51-302 The Year 2000 Challenge (the "CSA Staff Notice") addresses matters that a reporting issuer should consider in assessing the nature and extent of its disclosure obligations concerning the implications of the "Year 2000 issue". Staff of the Commission are concurrently publishing this Notice in order to provide guidance regarding the application of the CSA Staff Notice to exchange issuers filing a Form 61 Quarterly Report ("Form 61").

Staff of the Commission expect exchange issuers to consider the direction given in the CSA Staff Notice with respect to addressing the Year 2000 issue when preparing Schedule C Management Discussion of Form 61 accompanying both annual and interim financial statements. The continuous disclosure considerations of reporting issuers required to file MD&A that are discussed in the CSA Staff Notice apply equally to exchange issuers.

Questions may be referred to

Carla-Marie Hait
Chief Accountant
British Columbia Securities Commission
200- 865 Hornby Street
Vancouver, BC V6Z 2H4
(604) 899-6726

DATED at Vancouver, British Columbia, on January 27, 1998.

Michael J. Watson
Acting Executive Director

Reference: CSA Staff Notice 41-301 and 51-302