2023-06-01

Amendments to Policy Statement to Regulation 54-101 respecting Communication with Beneficial Owners of Securities of a Reporting Issuer

Canadian securities regulators amended the Policy Statement to Regulation 54-101 to align communication requirements with the phased implementation of the System for Electronic Data Analysis and Retrieval + (SEDAR+). The amendments insert a new section mandating that documents required or permitted to be provided to regulators, except in Québec, must be transmitted electronically through SEDAR+. Additionally, existing references to the legacy SEDAR system were replaced with SEDAR+ throughout sections 5.1 and 5.4 of the Policy Statement.

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AMENDMENTS TO POLICY STATEMENT TO REGULATION 54-101 RESPECTING COMMUNICATION WITH BENEFICIAL OWNERS OF SECURITIES OF A REPORTING ISSUER

  1. Policy Statement to Regulation 54-101 respecting Communication with Beneficial Owners of Securities of a Reporting Issuer is amended by inserting, after section 2.7, the following: “2.8. Electronic Transmission 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 the Regulation and this Policy Statement.”.
  2. Sections 5.1 and 5.4 of the Policy Statement are amended by replacing “SEDAR”, wherever it appears, by “SEDAR+”.