CSA Staff Notice: 58-302 - Implementation of Corporate Governance Policy and Related Disclosure Instrument

CSA STAFF NOTICE 58-302

IMPLEMENTATION OF CORPORATE GOVERNANCE

POLICY AND RELATED DISCLOSURE INSTRUMENT

Proposed National Policy 58-201 Corporate Governance Guidelines (the Proposed Policy) and proposed National Instrument 58-101 Disclosure of Corporate Governance Practices (the Proposed Instrument) were published for comment on October 29, 2004. The comment period expired on December 13, 2004 (December 28, 2004 in Manitoba).

Staff are currently considering the comments received and incorporating changes as appropriate. Subject to receiving all necessary Commission and ministerial approvals, staff anticipate that the Proposed Policy and the Proposed Instrument will apply to information circulars or AIFs, as the case may be, which are filed following financial years ending on or after June 30, 2005. For example, an issuer with a June 30^th year end would include the disclosure required by the Proposed Instrument in its information circulars commencing with the first information circular it files after June 30, 2005. Similarly, an issuer with a July 31^st year end would include the required disclosure in its information circulars commencing with the first information circular it files after July 31, 2005.

Questions may be referred to the following people: