Securities Law & Instruments

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NATIONAL INSTRUMENT 45-106

PROSPECTUS AND REGISTRATION EXEMPTIONS

ONTARIO AMENDMENT INSTRUMENT

1. Section 2.2 of National Instrument 45-106 Prospectus and Registration Exemptions is amended in Ontario by adding the following after subsection (1):

(1.1) In Ontario, paragraphs (a) and (b) of subsection (1) are to be read as follows:

(a) a trade in a security of the issuer's own issue if dividends or distributions out of earnings, surplus, capital or other sources payable in respect of the issuer's securities are applied to the purchase of the security, and

(b) subject to subsection (2), a trade in a security of the issuer's own issue if the security holder makes optional cash payments to purchase the security of the issuer that trades on a marketplace.