Region

Jurisdiction

Regulator

2021-10-07

Regulation to Amend Regulation 41-101 Respecting General Prospectus Requirements

The regulator amends Regulation 41-101 to define the statutory right of action for prospectus liability in British Columbia and Saskatchewan. The amendment specifies that section 135 of the British Columbia Securities Act applies in that province, while section 141 of The Securities Act, 1988 applies in Saskatchewan. These changes come into force on January 5, 2022, with a delayed effective date for Saskatchewan if filed after that date.

Canada

Autorite des marches financiers Quebec

REGULATION TO AMEND REGULATION 41-101 RESPECTING GENERAL PROSPECTUS REQUIREMENTS Securities Act (chapter V-1.1, s. 331.1, par. (4.1) and (14))

Section 3C.7 of Regulation 41-101 respecting General Prospectus Requirements (chapter V-1.1, r. 14) is amended by adding, after paragraph (6), the following: “(7) In British Columbia, for the purpose of subsection (1), “statutory right of action” means section 135 of the Securities Act (R.S.B.C. 1996, c. 418). “(8) In Saskatchewan, instead of subsection (1), section 141 of The Securities Act, 1988 (SS 1988-89, c S-42.2) applies.”.
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.