Revoked by Rule 45-801: OSC Rule - 45-503 - Trades to Employees, Executives and Consultants

Revocation of Rule 45-503 - Ontario Securities Commission Rule 45-503 Trades to Employees, Executives and Consultants is revoked.

Removal of Exemption for Trades under Paragraph 35(1)19 and Clause 72(1)(n) of the Act - The exemptions contained in paragraph 35(1)19 and clause 72(1)(n) of the Securities Act (Ontario) are not available for a trade.

Removal of Certain Exemptions for Trades of Securities of Certain Companies - The exemption contained in section 2.1 of Ontario Securities Commission Rule 45-501 Exempt Distributions is not available for a trade in a security of a subsidiary company of an employee or an executive, or a consultant company, if the company has acquired securities under an exemption contained in Mulitlateral Instrument 45-105 Trades to Employees, Senior Officers, Directors, and Consultants and at the time of the trade holds the securities, unless a trade of the securities acquired by the company to the purchaser would have been permitted under section 9.1 of Rule 45-501.

Effective Date - This rule comes into force on August 15, 2003.