Regulatory Alerts2023-06-09
Policy Statement to Regulation 61-101 Respecting Protection of Minority Security Holders in Special Transactions
The Autorité des marchés financiers and the Ontario Securities Commission issued this policy statement to clarify the interpretation and application of Regulation 61-101 regarding the protection of minority security holders in special transactions. The document provides detailed guidance on the equal treatment of security holders, the definition of connected transactions, and the requirements for minority approval and formal valuations in insider bids and business combinations. It further specifies disclosure obligations for information circulars and outlines the electronic transmission requirements via SEDAR+ for regulatory filings.
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