2020-11-12

Draft Amendments to Policy Statement to Regulation 41-101 Respecting General Prospectus Requirements

The securities regulators issued draft amendments to Policy Statement to Regulation 41-101 respecting General Prospectus Requirements. These changes specifically modify Section 5.9 to clarify the treatment of indirect acquisitions in Business Acquisition Reports. The amendment requires issuers to consider whether an indirect acquisition would be significant under Form 41-101F1 based on their proportionate interest in the business.

Canada

Autorite des marches financiers Quebec

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AMENDMENTS TO POLICY STATEMENT TO REGULATION 41-101 RESPECTING GENERAL PROSPECTUS REQUIREMENTS

1. Section 5.9 of Policy Statement to Regulation 41-101 General Prospectus Requirements is amended by replacing, in paragraph (5), the text of the first hyphen with: “· if the indirect acquisition would be considered a significant acquisition under subsection 35.1(4) of Form 41-101F1 if the issuer applied those provisions to its proportionate interest in the indirect acquisition of the business;”.