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

PART 1 AMENDMENTS

1.1 Amendment

(1) Companion Policy 81-101CP is amended by the substitution of the reference to “section 2.2” in section 2.5 with a reference to “section 2.3”.

(2) Companion Policy 81-101CP is amended by the deletion of section 2.6 and the substitution of the following:

“(1) Section 2.3 of the Instrument and other Canadian securities legislation require supporting documents to be filed with a simplified prospectus and annual information form and amendments. A list of documents required is set out in an Appendix to National Policy 43-201 Mutual Reliance System for Prospectus and Initial AIFs.

(2) Subsection 2.3(6) of the Instrument permits the filing of versions of certain material contracts from which certain commercial or financial information has been deleted in order to be kept confidential. The Canadian securities regulatory authorities are of the view that information such as fees and expenses and non-competition clauses is the type of information that could be kept confidential under this provision. In these cases, the benefits of disclosing that information to the public are outweighed by the potentially adverse consequences of disclosure for mutual fund managers and portfolio advisers. However, the basic terms of these agreements must be included in the versions that are filed. These terms would include the provisions relating to the term and termination of the agreements and the rights and responsibilities of the parties to the agreements.”.