Regulatory Alerts2021-05-20
Regulation to amend Regulation 43-101 respecting Standards of Disclosure for Mineral Projects
The Quebec securities regulator amends Regulation 43-101 to align mineral project disclosure requirements with the continuous disclosure obligations under Regulation 51-102. The amendment introduces a definition for annual disclosure statement and replaces references to annual information forms with annual disclosure statements in relevant sections. Issuers are subject to these changes only after their effective date, which is determined by their first required filing or the date of an initial filing under Regulation 51-102.
REGULATION TO AMEND REGULATION 43-101 RESPECTING STANDARDS OF DISCLOSURE FOR MINERAL PROJECTS Securities Act (chapter V-1.1, s. 331.1, par. (1), (20) and (34))
- Section 1.1 of Regulation 43-101 respecting Standards of Disclosure for Mineral Projects (chapter V-1.1, r.15) is amended by inserting, after the definition of the expression “advanced property”, the following: ““annual disclosure statement” has the same meaning as in Regulation 51-102 respecting Continuous Disclosure Obligations (chapter V-1.1, r. 24);”.
- Section 4.2 of the Regulation is amended: (1) by replacing, in paragraph (1), subparagraph (f) with the following: “(f) an annual disclosure statement or an annual information form;”; (2) by replacing, wherever they appear in paragraph (6), the words “annual information form” with the words “annual disclosure statement”.
- Transition (1) In this section, the expression “issuer’s effective date” means, in relation to an issuer, the earlier of (a) the date the issuer is required to file an annual disclosure statement for its first financial year ending on or after (indicate here the date of coming into force of this Regulation), and (b) the date, on or after (indicate here the date of coming into force of this Regulation), the issuer files an annual disclosure statement or an interim disclosure statement under Regulation 51-102 respecting Continuous Disclosure Obligations (chapter V-1.1, r. 24). (2) The provisions of the Regulation, as amended by this Regulation, do not apply to an issuer until the issuer’s effective date. (3) Until the issuer’s effective date, an issuer must comply with the Regulation as it read on (indicate here the date preceding the date of coming into force of this Regulation).
- Effective date This Regulation comes into force on (indicate here the date of coming into force of this Regulation).
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