Regulatory Alerts2023-01-31
CSA Staff Notice: CSA Coordinated Blanket Order 51-930 Exempting CBCA Reporting Issuers from Director Election Form of Proxy Requirement
The Canadian Securities Administrators issued Blanket Orders exempting reporting issuers incorporated under the Canada Business Corporations Act from the director election form of proxy requirement in Regulation 51-102. This relief addresses discrepancies arising from Majority Voting Amendments that require 'for' or 'against' voting options instead of the previously mandated 'voted' or 'withheld' options. The notice outlines the staff's views on these harmonized local orders while noting potential future rule-making amendments to the underlying regulation.
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