NOTICE OF RULE/REGULATION

NATIONAL INSTRUMENT 31-101 NATIONAL REGISTRATION SYSTEM,

NATIONAL POLICY 31-201 NATIONAL REGISTRATION SYSTEM

The Commission is publishing in today's Bulletin National Instrument 31-101 National Registration System and National Policy 31-201 National Registration System with a Notice respecting the National Instrument and the National Policy.

The National Instrument and the materials required by the Securities Act, Ontario (the Act) to be delivered to the Minister responsible for the administration of the Act were delivered on December 21, 2004. If the Minister approves the National Instrument, does not reject the National Instrument or return it to the Commission for further consideration, it will come into force on April 4, 2005.

The Notice and text of the National Instrument and National Policy are published in Chapter 5 of this Bulletin.