Securities Law

44-101CP - Companion Policy 44-101CP to National Instrument 44-101 Short Form Prospectus Distributions [CP Proposed - Lapsed]

Published Date: 2005-01-07
Document(s):
Related Document(s):

Concurrently Published:

Companion Policy 44-101CP
to National Instrument 44-101
Short Form Prospectus Distributions

Table of Contents

 

Part 1    INTRODUCTION AND DEFINITIONS. 1

1.1        Introduction and Purpose. 1
1.2        Interrelationship With Local Securities Legislation. 2
1.3        Interrelationship with Continuous Disclosure (NI 51-102 and NI 81-106)2
1.4        Interrelationship with MRRS. 2
1.5        Interrelationship with Selective Review.. 2
1.6        Interrelationship with Shelf Distributions (NI 44-102)2
1.7        Interrelationship with PREP Procedures (NI 44-103)3
1.8        Definitions3

ALTERNATIVE A.7

Part 2    QUALIFICATION TO FILE A PROSPECTUS IN THE FORM OF A SHORT FORM PROSPECTUS. 7

2.1        Basic Qualification Criteria - Issuers that have been Reporting Issuers for 12 Months (Section 2.2 of NI 44-101)7
2.2        Alternative Eligibility Criteria - Issuers that have not been Reporting Issuers for 12 Months (Sections 2.3, 2.5, 2.6 and 2.7 of NI 44-101)7
2.3        Calculation of the Aggregate Market Value of an Issuer's Equity Securities (Section 2.8 of NI 44-101)8
2.4        Alternative Qualification Criteria - Issuers of Guaranteed Debt Securities, Preferred Shares and Cash Settled Derivatives (Sections 2.5 and 2.6 of NI 44-101)10
2.5        Alternative Qualification Criteria for Issuers of Asset-Backed Securities (Section 2.7 of NI 44-101)10
2.6        Reorganizations11
2.7        Notice Declaring Intention. 12

ALTERNATIVE B.12

Part 3    FILING AND RECEIPTING OF SHORT FORM PROSPECTUS. 16

3.1        Confidential Material Change Reports16
3.2        Supporting Documents16
3.3        Experts' Consent17
3.4        Amendments and Incorporation by Reference of Subsequently Filed Material Change Reports17
3.5        Short Form Prospectus Review.. 17
3.6        “Waiting Period”. 17
3.7        Registration Requirements17

Part 4    CONTENT OF SHORT FORM PROSPECTUS. 17

4.1        Prospectus Liability. 17
4.2        Style of Prospectus18
4.3        Firm Commitment Underwritings18
4.4        Minimum Distribution. 19
4.5        Distribution of Asset-backed Securities19
4.6        Distribution of Derivatives20
4.7        Underlying Securities20
4.8        Offerings of Convertible or Exchangeable Securities20
4.9        Restricted Securities21
4.10       Recent and Proposed Acquisitions21
4.11       General Financial Statement Requirements22
4.12       Credit Supporter Disclosure. 23
4.13       Exemptions for Certain Issues of Guaranteed Securities23

Part 5    CERTIFICATES. 25

5.1        Non-corporate Issuers25
5.2        Promoters of Issuers of Asset-backed Securities25