Changes to National Policy 11-202 Process for Prospectus Reviews in Multiple Jurisdictions

CHANGES TO NATIONAL POLICY 11-202 PROCESS FOR PROSPECTUS REVIEWS IN MULTIPLE JURISDICTIONS

1. National Policy 11-202 Process for Prospectus Reviews in Multiple Jurisdictions is changed by this Document.

2. Part 2 is changed by adding "AND INTERPRETATION" to its title.

3. Section 2.1 is changed by deleting the definition of "NI 13-101".

4. Section 2.2 is changed by replacing "NI 13-101" with "National Instrument 13-103 System for Electronic Data Analysis and Retrieval + (SEDAR+)".

5. Part 2 is changed by adding the following section:

2.3 Electronic transmission -- National Instrument 13-103 System for Electronic Data Analysis and Retrieval + (SEDAR+) prescribes that each document that is required or permitted to be provided to a securities regulatory authority or regulator must be transmitted to the securities regulatory authority or regulator electronically through the System for Electronic Data Analysis and Retrieval + (SEDAR+).

The reference to a document includes any report, form, application, information, material and notice, as well as a copy thereof, and applies to documents that are required or permitted to be filed or deposited with, or delivered, furnished, sent, provided, submitted or otherwise transmitted to, a securities regulatory authority or regulator.

To reflect the phased implementation of SEDAR+, the Appendix of National Instrument 13-103 System for Electronic Data Analysis and Retrieval + (SEDAR+) sets out securities legislation under which documents are excluded from being filed or delivered in SEDAR+.

National Instrument 13-103 System for Electronic Data Analysis and Retrieval + (SEDAR+) should be consulted when providing any document to a securities regulatory authority or regulator under MI 11-102 and this policy..

6. Section 4.1 is changed by

(a) deleting "electronic",

(b) deleting "on SEDAR", and

(c) deleting the sentence "If the filer files a prospectus in paper format under NI 13-101, the filer should include this information in the cover letter for the prospectus.".

7. Section 4.3 is changed by deleting "on SEDAR".

8. Section 5.4 is changed by

(a) replacing "a first comment letter" with "initial comments", and

(b) replacing "SEDAR" with "SEDAR+".

9. Section 5.5 is changed by

(a) replacing "a first comment letter" with "initial comments", and

(b) replacing "SEDAR" with "SEDAR+".

10. Section 5.7 is changed by replacing "comment letter" with "comments".

11. The following provisions are changed by replacing "SEDAR" with "SEDAR+":

(a) subsection 6.1(1);

(b) subsection 7.1(2).

12. Subsection 7.2(2) is changed by replacing "the filer provides a letter to the principal regulator with the materials confirming the following" with "at the same time as filing the materials, the filer confirms to the principal regulator that".

13. Section 7.3 is changed by

(a) replacing "SEDAR" with "SEDAR+", and

(b) replacing "the filer provides a letter to the principal regulator with the materials confirming the following" with "at the same time as filing the materials, the filer confirms to the principal regulator that".

14. Subsection 8.1(1.1) is deleted.

15. Subsection 8.2(1) is changed by deleting "by letter".

16. The following provisions are changed by replacing "SEDAR" with "SEDAR+":

(a) subsection 8.3(1);

(b) subsection 8.4(3);

(c) section 9.3.

17. Subsection 10.1(2) is changed by replacing "the filer provides a letter to the principal regulator with the materials confirming the following" with "at the same time as filing the materials, the filer confirms to the principal regulator that".

18. Section 10.3 is changed

(a) in subsection (1) by:

(i) replacing "issues its comment letter" with "provides its comments", and

(ii) replacing "issue its comment letter" wherever the expression occurs with "provide its comments".

(b) in paragraph (1)(a) by replacing "comment letter" with "comments",

(c) in paragraph (1)(b) by replacing "comment letter" with "comments",

(d) in subsection (2) by replacing "issued its comment letter" with "provided its comments",

(e) in paragraph (2)(a) by replacing "issue a comment letter" with "provide comments",

(f) in subsection (3) by replacing "issued its comment letter" with "provided its comments", and

(g) in paragraph (3)(a) by replacing "issue a comment letter" with "provide comments".

19. Section 10.4 is changed by replacing "issue a comment letter" wherever the expression occurs with "provide comments".

20. Section 10.5 is changed by

(a) replacing "SEDAR" with "SEDAR+", and

(b) replacing "the filer provides a letter to the principal regulator with the materials confirming the following" with "at the same time as filing the materials, the filer confirms to the principal regulator that".

21. Subsection 10.6(2) is changed by replacing "SEDAR" with "SEDAR+".

22. Part 12 is changed by deleting "AND TRANSITION" in its title.

23. Section 12.2 is deleted.

Effective Date

24. These changes become effective on June 9, 2023.