Securities Law & Instruments

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AMENDMENTS TO
NATIONAL INSTRUMENT 51-102 CONTINUOUS DISCLOSURE OBLIGATIONS



1. National Instrument 51-102 Continuous Disclosure Obligations is amended by this Instrument.

2. Section 1.1 is amended in the definition of "executive officer", by adding the following paragraph "(a.1) a chief executive officer or chief financial officer;" after "(a) a chair, vice-chair or president;".

3. Paragraph 8.10(1)(b) is amended by adding the following after "that is not of securities of another issuer":

", unless the vendor transferred the business referenced in paragraph (1)(a) to the other issuer and that other issuer

(i) was created for the sole purpose of facilitating the acquisition; and

(ii) other than assets or operations relating to the transferred business, has no

(A) substantial assets; or

(B) operating history"

4. Paragraph 8.10(4)(a) is amended by

(a) replacing "gross revenue" with "gross sales", and

(b) replacing "royalty expenses" with "royalties".

5. This Instrument comes into force on May 14, 2013.