Securities Law & Instruments

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AMENDMENTS TO NATIONAL INSTRUMENT 55-102

SYSTEM FOR ELECTRONIC DISCLOSURE BY INSIDERS

(SEDI)

1.1 Paragraph 2.3(3)(a) of National Instrument 55-102 System for Electronic Disclosure by Insiders (SEDI) is repealed and the following substituted:

(a) the SEDI issuer issues any security or class of securities to any insider of the SEDI issuer, unless that issuance has already been disclosed in its issuer profile supplement;

1.2 (a) Section 4.1 of the National Instrument is amended by repealing subsection (3) and substituting the following:

(3) The requirements of securities legislation relating to paper format filings of insider reports apply to a filing under subsection (1) except that signatures to the paper format document may be in typed form rather than manual format and an agent may sign the paper format document on behalf of an insider who is an individual without filing a completed power of attorney.

(b) Section 4.1 of the National Instrument is amended by adding the following subsection:

(6) Despite sub-section 2.1(3) and sections 2.3 and 2.4, if unanticipated technical difficulties prevent a SEDI filer from filing an issuer profile supplement, an amended issuer profile supplement, an issuer event report or an amended insider profile within the specified time, the SEDI filer shall file such document as soon as practicable after the unanticipated technical difficulties have been resolved.

1.3 The National Instrument is amended by adding the following Part:

PART 9 - FILING OF ISSUER PROFILE SUPPLEMENT

9.1 Filing of Issuer Profile Supplement

(1) A SEDI issuer that filed an issuer profile supplement in SEDI format on or before January 31, 2002 shall file a new and current issuer profile supplement in SEDI format not later than the date specified by the regulator under subsection (2).

(2) For the purposes of subsection (1), the regulator may specify a period and that period must

(a) begin no earlier than the date that the notice is published under subsection (3), and

(b) be at least 18 days in length.

(3) After specifying a period under subsection (2), the regulator shall

(a) publish a notice specifying the date the period ends and the filing requirement under subsection (1), and

(b) issue a press release summarizing the notice given under paragraph (a).

1.4 (a) Form 55-102F1 Insider Profile of the National Instrument is amended by striking out the title of item 11 and substituting: "Date the insider became an insider or date of opening balance".

(b) Form 55-102F1 Insider Profile of the National Instrument is amended by striking out in item 11 "Alternatively, if the insider has previously filed an insider report in paper format in respect of the reporting issuer, provide the date of the insider's last paper filing in respect of the reporting issuer" and substituting: "Otherwise, provide an opening balance date. This opening balance date will be used as the date for all opening balances of securities of this reporting issuer. The opening balance date should be a date prior to the date of any transactions that will be reported for this reporting issuer in SEDI".

(c) Form 55-102F1 Insider Profile of the National Instrument is amended in the part titled Notice -- Collection and Use of Personal Information by striking out "Saskatchewan Securities Commission" and "800-1920 Broad Street" in the address for the Saskatchewan Securities Commission and substituting "Saskatchewan Financial Services Commission, Securities Division, 6th Floor, 1919 Saskatchewan Drive".

1.5 (a) Form 55-102F2 Insider Report of the National Instrument is amended by striking out in item 8 "The "date of the transaction" will be the date the insider became an insider or the date of the previous filing, whichever has been reported in the insider profile." and substituting "The "Opening/initial balance date" will be the date the insider became an insider or the date the insider entered for all opening balances for securities of this issuer.".

(b) Form 55-102F2 Insider Report of the National Instrument is amended in the part titled Notice -- Collection and Use of Personal Information by striking out "Saskatchewan Securities Commission" and "800-1920 Broad Street" in the address for the Saskatchewan Securities Commission and substituting "Saskatchewan Financial Services Commission, Securities Division, 6th Floor, 1919 Saskatchewan Drive".

1.6 (a) Form 55-102F3 Issuer Profile Supplement of the National Instrument is amended by striking out in item 7 "being profiled" and substituting: "that is held by an insider of the reporting issuer who has direct or indirect beneficial ownership of, or control or direction over, that security or class of security".

(b) Form 55-102F3 Issuer Profile Supplement of the National Instrument is amended in the part titled Notice -- Collection and Use of Personal Information by striking out "Saskatchewan Securities Commission" and "800-1920 Broad Street" in the address for the Saskatchewan Securities Commission and substituting "Saskatchewan Financial Services Commission, Securities Division, 6th Floor, 1919 Saskatchewan Drive".

1.7 (a) Form 55-102F6 Insider Report of the National Instrument is amended by adding the following nature of transaction code to the List of Codes -- Issuer Derivatives:

Exercise for cash
59

(b) Form 55-102F6 Insider Report of the National Instrument is amended by adding the following nature of transaction code to the List of Codes -- Miscellaneous:

Correction of information
99

(c) Form 55-102F6 Insider Report of the National Instrument is amended by striking out "Saskatchewan Securities Commission" and "800-1920 Broad Street" in the address for the Saskatchewan Securities Commission and substituting "Saskatchewan Financial Services Commission, Securities Division, 6th Floor, 1919 Saskatchewan Drive".

Effective Date: April 29, 2003