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REVISED OSC STAFF NOTICE 11-737 SECURITIES ADVISORY COMMITTEE - VACANCIES

(PREVIOUS VERSION PUBLISHED SEPTEMBER 17, 2004)

The Commission formally established the Securities Advisory Committee to the Commission ("SAC") many years ago. SAC meets on a regular basis, at least monthly, and provides advice to the Commission and staff on a variety of legal matters, including amendments to the Act and Regulations, formulation of rules, Commission policies and staff notices, and other operational or transactional matters currently before the Commission and staff. SAC is also expected to provide general advisory services to the Commission and staff on an informal basis relating to emerging trends in the marketplace. SAC is asked to report to the Commission at least annually on its work over the previous year and identify issues that SAC considers should be addressed by the Commission.

The Commission is now looking for prospective candidates to serve on SAC for a three-year term beginning in October 2005. Prospective candidates are encouraged to review OSC Policy 11-601 for further information about SAC.

Those who make a commitment to serve on SAC must be in a position to devote the time necessary to attend meetings, be an active participant, and undertake the work involved, which sometimes must be dealt with on an urgent basis. SAC members must have an excellent knowledge of the legislation and policies for which the Commission is responsible, and have significant practice experience in the securities area. Expertise in an area of special interest to the Commission at the time an appointment is made will also be a factor in selection. SAC members are expected to have excellent technical abilities and a strong interest in the development of securities regulatory policy. SAC members will be selected in part to ensure that SAC is reasonably representative of the full spectrum of securities law practice.

Individual practitioners, with the support of their firms, are invited to apply in writing for membership on SAC to the Office of the General Counsel of the Commission, indicating areas of practice and relevant experience.

SAC's membership currently consists of thirteen Ontario solicitors practising in the area of securities law plus one U.S. securities lawyer. The SAC membership is changed in rotation. In October, half of the current SAC members will be replaced with the successful new applicants. The present members of SAC are:

The Commission is very grateful to SAC members for their able assistance and valuable input.

Applications for SAC membership will be considered if received on or before August 26, 2005. Applications should be submitted in writing to:

July 15, 2005