Region

Jurisdiction

Regulator

2023-03-23

Regulation to Amend National Policy 46-201: Escrow for Initial Public Offerings

The securities regulator amends National Policy 46-201 to require electronic transmission of documents to regulators outside Québec via the System for Electronic Data Analysis and Retrieval + (SEDAR+). This amendment aligns the policy with Regulation 13-103, ensuring that all reports, forms, and notices are filed through the designated electronic system. The regulation comes into force on June 9, 2023, with a specific provision allowing Saskatchewan to set its own effective date if filed after that deadline.

Canada

Autorite des marches financiers Quebec

REGULATION TO AMEND NATIONAL POLICY 46-201: ESCROW FOR INITIAL PUBLIC OFFERINGS Securities Act (chapter V-1.1, s. 331.1, par. (1), (2) and (34))

Section 1.2 of National Policy 46-201: Escrow for Initial Public Offerings (chapter V-1.1, r. 22) is amended by inserting, after paragraph (3), the following: “(4) Regulation 13-103 respecting System for Electronic Data Analysis and Retrieval + (SEDAR+) (insert reference) prescribes that each document that is required or permitted to be provided to a regulator, except in Québec, or securities regulatory authority must be transmitted to the regulator, except in Québec, or securities regulatory authority 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 regulator, except in Québec, or securities regulatory authority. To reflect the phased implementation of SEDAR+, the Appendix of Regulation 13-103 respecting System for Electronic Data Analysis and Retrieval + (SEDAR+) sets out securities legislation under which documents are excluded from being filed or delivered in SEDAR+. Regulation 13-103 respecting System for Electronic Data Analysis and Retrieval + (SEDAR+) should be consulted when providing any document to a regulator, except in Québec, or securities regulatory authority under this Policy.”.
Effective Date (1) This Regulation comes into force on 9 June 2023. (2) In Saskatchewan, despite paragraph (1), if this Regulation is filed with the Registrar of Regulations after 9 June 2023, this Regulation comes into force on the day on which it is filed with the Registrar of Regulations.