Securities Law & Instruments

 

NOTICE OF COMMISSION APPROVAL OF
AMENDMENTS TO RULES EXTENDING THE
EXPIRATION DATE FROM DECEMBER 31, 1998 TO DECEMBER 31, 1999

The Commission is publishing in today's Bulletin amendments to the following rules andnotices respecting the amendments for the purpose of extending the expiration date fromDecember 31, 1998 to December 31, 1999:

1. In the Matter of the Limitations on a Registrant Underwriting Securities of a RelatedIssuer or Connected Issuer of the Registrant (1997), 20 OSCB 1217;

2. In the Matter of Certain Advisers (1997), 20 OSCB 1217;

3. In the Matter of the Prompt Offering Qualification System [including National PolicyStatement No.47] (1997), 20 OSCB 1217;

4. In the Matter of National Policy Statement No. 47 and the Solicitation of Expressions ofInterest [including National Policy Statement No. 47] (1997), 20 OSCB 1217;

5. In the Matter of Certain Reporting Issuers (1997), 20 OSCB 1219;

6. In the Matter of Certain Reporting Issuers (1997), 20 OSCB 1218;

7. In the Matter of Certain Reporting Issuers (1997), 20 OSCB 1219;

8. In the Matter of Certain Reporting Issuers (1997), 20 OSCB 1219; and

9. In the Matter of Certain Reporting Issuers [including National Policy Statement No.41](1997), 20 OSCB 1219.

The notices and the amendments to the rules are published in Chapter 5 of the Bulletin.

Reference:
Randee B. Pavalow
Policy Coordinator/Advisor
Ontario Securities Commission
(416) 593-8257

Susan Greenglass
Legal Counsel, Policy Coordination
Ontario Securities Commission
(416) 593-8140



NOTICE OF AMENDMENT TO RULES UNDER
THE SECURITIES ACT
IN THE MATTER OF CERTAIN REPORTING ISSUERS

Notice of Amendments

The Commission has, under section 143 of the Securities Act (the "Act"), amendedthree rules, each entitled In the Matter of Certain Reporting Issuers (1997),20 OSCB 1218 and 1219 (the "Rules"). The amendments extend the expiration date ofeach of the Rules from December 31, 1998 to December 31, 1999. Theseamendments, however, do not materially change the Rules and, accordingly, undersection 143.2 of the Act, the Commission has not published the amendments forcomment.

The amendments and the material required by the Act to be delivered to the Minister ofFinance were delivered on October 7, 1998. If the Minister does not approve theamendments, reject the amendments or return them to the Commission for furtherconsideration, the amendments will come into force on December 21, 1998. If theMinister does approve the amendments, the amendments will come into force 15 daysafter they are approved.

Substance and Purpose of Amendments

The Rules replaced the deemed rules entitled In the Matter of Certain ReportingIssuers, [1980] OSCB 166, In the Matter of Certain Reporting Issuers (1984),7 OSCB 1913 and In the Matter of Certain Reporting Issuers (1984), 7 OSCB 3247.

Each of the Rules provides that it will expire on the earlier of the date on which a newrule intended to replace it comes into force and December 31, 1998. ProposedRule 51-502 Continuous Disclosure and Other Exemptions for Foreign ReportingIssuers, which is intended to replace the Rules, will be published for comment shortly.The purpose of the amendments is to extend the expiration date of each of the Rulesfrom December 31, 1998 to December 31, 1999 in order to permit the statutorily-required publication for comment of proposed Rule 51-502, the subsequentconsideration of those comments by the Commission and its staff and the review ofproposed Rule 51-502 by the Minister.

Text of Amendment

The text of the amendments follows.

 

AMENDMENT TO ONTARIO SECURITIES COMMISSION RULES
IN THE MATTER OF CERTAIN REPORTING ISSUERS

1.1 Amendment - The three Rules, each entitled In the Matter of Certain ReportingIssuers (1997), 20 OSCB 1218 and 1219, (the "Rules") are each amended bydeleting "December 31, 1998" in the last sentence of each and replacing it with"December 31, 1999."