NOTICE OF COMMISSION APPROVAL
NATIONAL INSTRUMENT 58-101 DISCLOSURE OF
CORPORATE GOVERNANCE PRACTICES,
NATIONAL POLICY 58-201 CORPORATE GOVERNANCE
GUIDELINES, AND AMENDMENTS TO MULTILATERAL INSTRUMENT 52-110 AUDIT COMMITTEES
The Commission is publishing the following materials in Chapter 5 of today's Bulletin:
• National Instrument 58-101 Disclosure of Corporate Governance Practices, Form 58-101F1 and Form 58-101F2 (collectively, the Disclosure Rule);
• National Policy 58-201 Corporate Governance Guidelines (the Governance Policy);
• Amendments to Multilateral Instrument 52-110 Audit Committees, Form 52-110F1 and Form 52-110F2 (collectively, the Audit Committee Amendments); and
• Amendments to Companion Policy 52-110CP Audit Committees (the Audit Committee CP Amendments).
The materials were previously published for comment on October 29, 2004 at (2004) 27 OSCB 8825.
On February 22, 2005, the Commission made the Disclosure Rule as a rule under the Securities Act (Ontario) (the Act) and adopted the Governance Policy as a policy. On March 22, 2005, the Commission made the Audit Committee Amendments as a rule under the Act and adopted the Audit Committee CP Amendments as a policy.
The Disclosure Rule and the Audit Committee Amendments were delivered to the Chair of the Management Board of Cabinet on April 15, 2005. The Minister may approve or reject the Disclosure Rule and the Audit Committee Amendments or return them for further consideration. If the Minister approves the Disclosure Rule and Audit Committee Amendments or does not take any further action by June 14, 2005, they will come into force on June 30, 2005.
The Governance Policy and the Audit Committee CP Amendments will come into force when the Disclosure Rule and Audit Committee Amendments come into force.