52-109 - Certification of Disclosure in Issuers’ Annual and Interim Filings [NI Amendment Proposed - Lapsed]

Concurrently Published:

• 52-109CP - Certification of Disclosure in Issuers’ Annual and Interim Filings [CP Amendment Proposed - Lapsed]
• BCN 2009/21 - Notice and Request for Comment Proposed Amendments to NI 52-109 Certification of Disclosure In Issuers' Annual and Interim Filings, Forms 51-109F1, 52-109FV1, 52-109F1 -IPO/RTO, 52-109F2, 52-109FV2, 52-109F2 - IPO/RTO, 52-109F2R, and Companion Policy 52-109CP [BCN - Lapsed]

Although this amendment instrument amends section headers in National Instrument 52-109, section headers do not form part of the instrument and are inserted for ease of reference only

1.         National Instrument 52-109 Certification of Disclosure in Issuers’ Annual and Interim Filings is amended by this instrument.

2.         Section 1.1 of National Instrument 52-109 is amended by

(a)        after the definition of “financial period”, adding the following definition:

“financial statements” has the same meaning as in section 1.1 of NI 51-102;,

(b)        in the definition of “internal control over financial reporting”, in paragraph (c), striking out “interim financial statements” and substituting “interim financial reports”, 

(c)        in the definition of “interim filings”, striking out “interim financial statements” and substituting “interim financial report”,

(d)        repealing the definition of “interim financial statements” and substituting the following:

“interim financial report” means the interim financial report required to be filed under NI 51-102;,

(e)        in the definition of “material weakness”, striking out “annual or interim financial statements” and substituting “annual financial statements or interim financial report”,

(f)        in the definition of “NI 52-107”, striking out “Acceptable Accounting Principles, Auditing Standards and Reporting Currency” and substituting “Acceptable Accounting Principles and Auditing Standards”, 

(g)        in the definition of “proportionately consolidated entity”, striking out “revenues” and substituting “revenue”,

(h)       after the definition of “Sarbanes-Oxley Act”, adding the following definition:

“special purpose entity” has, in respect of an issuer, the meaning ascribed to that term in the issuer’s GAAP;,

(i)        in the definition of “U.S. marketplace”, adding “and” after “NI 51-102;”,

(j)         repealing the definition of “variable interest entity”.

3.         Section 3.3 of National Instrument 52-109 is amended by striking out “variable interest entity” wherever it occurs and substituting “special purpose entity”.

4.         Section 5.6 of National Instrument 52-109 is amended by striking out “interim financial statements” wherever it occurs and substituting “interim financial reports”.

5.         Section 6.2 of National Instrument 52-109 is amended by

(a)        in the title, striking out “interim financial statements” and substituting “interim financial report”, and

(b)        striking out “interim financial statements” wherever it occurs and substituting “interim financial report”.

6.         Subsection 8.2(3) of National Instrument 52-109 is amended by striking out “interim financial statements” wherever it occurs and substituting “interim financial report”.

7.         Part 9 of National Instrument 52-109 is amended by adding the following after section 9.2:

9.3       Transition - Application of Amendments - The amendments to this Instrument that came into force on January 1, 2011 only apply to periods relating to financial years beginning on or after January 1, 2011.

8.         Section 3 of Form 52-109F1 Certification of annual filings - full certificate is amended by striking out “results of operations” and substituting “financial performance”.

9.         Section 5.3 of Form 52-109F1 Certification of annual filings - full certificate is amended by striking out “variable interest entity” wherever it occurs and substituting “special purpose entity”.

10.       Section 3 of Form 52-109FV1 Certification of annual filings - venture issuer basic certificate is amended by striking out “results of operations” and substituting “financial performance”.

11.       Section 3 of Form 52-109F1 - IPO/RTO Certification of annual filings following an initial public offering, reverse takeover or becoming a non-venture issuer is amended by striking out “results of operations” and substituting “financial performance”.

12.       Section 1 of Form 52-109F2 Certification of interim filings - full certificate is amended by striking out “interim financial statements” and substituting “interim financial report”.

13.       Section 3 of Form 52-109F2 Certification of interim filings - full certificate is amended by

(a)        striking out “interim financial statements” and substituting “interim financial report”, and

(b)        striking out “results of operations” and substituting “financial performance”.

14.       Section 5.3 of Form 52-109F2 Certification of interim filings - full certificate is amended by striking out “variable interest entity” wherever it occurs and substituting “special purpose entity”.

15.       Section 1 of Form 52-109FV2 Certification of interim filings - venture issuer basic certificate is amended by striking out “interim financial statements” and substituting “interim financial report”.

16.       Section 3 of Form 52-109FV2 Certification of interim filings - venture issuer basic certificate is amended by

(a)        striking out “interim financial statements” and substituting “interim financial report”, and

(b)        striking out “results of operations” and substituting “financial performance”.

17.       Section 1 of Form 52-109F2 - IPO/RTO Certification of interim filings following an initial public offering, reverse takeover or becoming a non-venture issuer is amended by striking out “interim financial statements” and substituting “interim financial report”.

18.       Section 3 Form 52-109F2 - IPO/RTO Certification of interim filings following an initial public offering, reverse takeover or becoming a non-venture issuer is amended by

(a)        striking out “interim financial statements” and substituting “interim financial report”, and

(b)        striking out “results of operations” and substituting “financial performance”.

19.       Section 1 of Form 52-109F2R Certification of refiled interim filings is amended by striking out “interim financial statements” and substituting “interim financial report”.

20.       This instrument only applies to periods relating to financial years beginning on or after January 1, 2011.