81-101CP - Mutual Fund Prospectus Disclosure [CP Amendment Proposed - Lapsed]

Concurrently Published:

• BCN 2006/30 - Publication for Comment of National Instrument 41-101 General Prospectus Requirements Related Instruments and Proposed Consequential Amendments [BCN - Lapsed]

1 Companion Policy 81-101CP - To National Instrument 81-101 Mutual Fund Prospectus Disclosure is amended by adding the following subsection in section 2.7:

 "(5) Securities legislation provides that no person or company shall distribute securities, unless a preliminary prospectus and a prospectus have been filed and receipts have been issued by the securities regulatory authority or regulator. We interpret this requirement to also apply to mutual funds.  If a mutual fund adds a new class or series of securities to a simplified prospectus that is referable to a new separate portfolio of assets, a preliminary simplified prospectus must be filed.  However, if the new class or series of securities is referable to an existing portfolio of assets, the new class or series may be added by way of amendment."