Regulatory Alerts2019-05-02
Draft Amendment to Policy Statement 12-202 Respecting Revocations of Certain Cease Trade Orders
Securities regulators amend Policy Statement 12-202 to replace references to the SEDAR system with the [Renewed System] and update related definitions. The amendments mandate that documents required or permitted to be filed with regulators, except in Québec, must be transmitted electronically through the [Renewed System] as prescribed by Regulation 13-103. Additionally, minor textual corrections are made to align terminology regarding annual meeting requirements and system references throughout the policy.
AMENDMENTS TO POLICY STATEMENT 12-202 RESPECTING REVOCATION OF CERTAIN CEASE TRADE ORDERS
- Section 2 of Policy Statement 12-202 respecting Revocation of Certain Cease Trade Orders is amended: (1) by deleting the definition of the expression “SEDAR”; (2) by inserting, after the definition of the expression “partial revocation order”, the following: ““[Renewed System]” means [full name of new system];”.
- The Policy Statement is amended by inserting, after section 4, the following: “Electronic transmission 4.1. Regulation 13-103 respecting System Replacement (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 [Renewed System]. 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 the [Renewed System], the Appendix of Regulation 13-103 respecting System Replacement sets out securities legislation under which documents are excluded from being filed or delivered in the [Renewed System]. Reference to Regulation 13-103 respecting System Replacement should be made when providing any document to a regulator, except in Québec, or securities regulatory authority under this policy statement.”.
- Section 9 of the Policy Statement is amended by replacing the words “to hold an annual meeting requirement” with the words “to hold an annual meeting”.
- Section 14 of the Policy Statement is amended by replacing, in subparagraph (f) of paragraph (2), the word “SEDAR” with the words “[Renewed System]”.
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