Securities Law & Instruments

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NOTICE OF MINISTERIAL APPROVAL

NI 58-101 DISCLOSURE OF CORPORATE GOVERNANCE PRACTICES

AND AMENDMENTS TO MI 52-110 AUDIT COMMITTEES

On May 31, 2005, the Chair of the Management Board of Cabinet approved the following pursuant to subsection 143.3(3) of the Securities Act (Ontario) (the Act) as a rule under the Act:

    • National Instrument 58-101 Disclosure of Corporate Governance Practices, Form 58-101F1 and Form 58-101F2 (collectively, the Disclosure Rule), and

    • Amendments to Multilateral Instrument 52-110 Audit Committees, Form 52-110F1 and Form 52-110F2 (collectively, the Audit Committee Amendments).

The Disclosure Rule, together with National Policy 58-201 Corporate Governance Guidelines (the Governance Policy), was previously published in the Bulletin on April 15, 2005. The Audit Committee Amendments, together with amendments to Companion Policy 52-110CP Audit Committees (the Audit Committee CP Amendments), were also published in that Bulletin. The Disclosure Rule, Governance Policy, Audit Committee Amendments, and Audit Committee CP Amendments are published in Chapter 5 of this Bulletin.

The Disclosure Rule, Governance Policy, Audit Committee Amendments and Audit Committee CP Amendments will come into force in Ontario on June 30, 2005.