Notice of Commission Approval - Technical Amendments to CDS Rules - Procedures for Participating in CDS Services
THE CANADIAN DEPOSITORY FOR SECURITIES LIMITED (CDS)
TECHNICAL AMENDMENTS TO CDS PROCEDURES --
SPECIAL REQUESTS FOR OUTSTANDING ISSUES
NOTICE OF EFFECTIVE DATE
A. DESCRIPTION OF THE RULE AMENDMENT
Background
The proposed amendments to the procedures for requesting eligibility of physical securities for outstanding issues are the result of CDS's ongoing internal evaluation of its services and the efficiency with which those services are provided.
The Procedures marked for the amendments may be accessed at the CDS website at:
http://www.cds.ca/cdshome.nsf/Pages/-EN-Documentation?Open
Description of Proposed Amendments
The proposed amendments are twofold:
1. CDS has made grammatical changes to Section 3.2.2 (Requesting issues be made eligible in CDSX); these changes are of a housekeeping/stylistic nature only.
2. Section 3.2.3 (Special requests for outstanding issues), a new section, has been added; this addition has the effect of formalizing and streamlining the requirements and process for Participant communication with CDS regarding the submission of physical securities for eligible deposit in CDSX. The new section does not impose new criteria for eligibility, and specifies that new issues do not qualify for this service.
B. REASONS FOR TECHNICAL CLASSIFICATION
The amendments in section 3.2.2 proposed pursuant to this notice are considered technical amendments as they are matters involving only the correction of spelling, punctuation, typographical or grammatical mistakes or inaccurate cross-referencing (OSC Rule Protocol, section 3(a)(iii)).
The amendments in section 3.2.3 proposed pursuant to this Notice are considered technical amendments as they are matters of a technical nature in routine operating procedures and administrative practices relating to CDS services. (OSC Rule Protocol, section 3(a)(i)).
C. EFFECTIVE DATE OF THE RULE
Pursuant to Appendix A ("Rule Protocol Regarding The Review And Approval Of CDS Rules By The OSC") of the Recognition and Designation Order, as varied and restated on July 12, 2005, these amendments will be effective on 17 April, 2006.
D. QUESTIONS
Questions regarding this notice may be directed to:
Tony Hoffmann
Legal Counsel
The Canadian Depository for Securities Limited
85 Richmond Street West
Toronto, Ontario M5H 2C9
Telephone: 416-365-3768
Fax: 416-365-1984
e-mail: [email protected]