Regulatory Alerts2021-10-07
Draft Regulation to amend Regulation 45-106 respecting Prospectus Exemptions
The regulator issued a draft regulation to amend Regulation 45-106 respecting Prospectus Exemptions by replacing the definition of "designated rating" with a reference to Regulation 81-102 respecting Investment Funds. This change aligns the terminology across securities regulations to ensure consistency in how credit ratings are defined for prospectus exemption purposes. The amendment is scheduled to come into force on January 5, 2022, with a specific provision allowing Saskatchewan to delay implementation until the regulation is filed with the Registrar of Regulations if that occurs after the initial date.
REGULATION TO AMEND REGULATION 45-106 RESPECTING PROSPECTUS EXEMPTIONS Securities Act (chapter V-1.1, s. 331.1, par. (34))
- Section 1.1 of Regulation 45-106 respecting Prospectus Exemptions (chapter V-1.1, r. 21) is amended by replacing the definition of the expression “designated rating” with the following: ““designated rating” has the same meaning as in Regulation 81-102 respecting Investment Funds (chapter V-1.1, r. 39);”.
- Effective Date (1) This Regulation comes into force on 5 January 2022. (2) In Saskatchewan, despite paragraph (1), if this Regulation is filed with the Registrar of Regulations after 5 January 2022, this Regulation comes into force on the day on which it is filed with the Registrar of Regulations.
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