Securities Law & Instruments

NOTICE OF AMENDMENTS TO THE SECURITIES ACT AND REGULATION 1015 MADE UNDER THE SECURITIES ACT RELATING TO TAKE-OVER AND ISSUER BIDS


On March 21, 2001 the Lieutenant Governor issued a proclamation naming March 31, 2001 as the date for the coming into force of sections 211, 212 and 213 and subsection 220(6) of the More Tax Cuts for Jobs, Growth and Prosperity Act, 1999 (the "Prosperity Act"). These sections of the Prosperity Act amended certain provisions of the Securities Act relating to the timing and delivery of take-over bids and issuer bids. These amendments were enacted on December 14, 1999 but their proclamation had been deferred pending legislative change in other Canadian jurisdictions. The text of the amendments was previously published in the Bulletin on December 24, 1999 (1999) 22 OSCB 8395 and can be viewed on the Commission's web site by clicking here.


Concurrently with proclaiming these sections of the Prosperity Act, the Lieutenant Governor made a regulation (the "Regulation") to amend Regulation 1015 of the Revised Regulations of Ontario, 1990 made under the Securities Act, which was filed as O. Reg. 67/01 on March 22, 2001, and will be published in the Ontario Gazette on April 7, 2001. The Regulation came into force on March 31, 2001, and is published in Chapter 9 of this Bulletin.