Regulatory Alerts2021-05-20
Draft Amendment to Policy Statement 12-202 Respecting Revocations of Certain Cease Trade Orders
The regulator amends Policy Statement 12-202 to update the definitions of annual and interim disclosure statements by aligning them with Regulation 51-102. The changes modify Section 6 to require the submission of annual disclosure statements and interim disclosure statements alongside audited annual financial statements for revocation applications. A minor textual correction is also made to the French version of Section 15 to ensure accurate reference to the applicant.
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 inserting, before the definition of the expression “application”, the following: ““annual disclosure statement” has the same meaning as in Regulation 51-102 respecting Continuous Disclosure Obligations (chapter V-1.1, r. 24);”; (2) by inserting, after the definition of the expression “cease trade order”, the following: ““interim disclosure statement” has the same meaning as in Regulation 51-102 respecting Continuous Disclosure Obligations;”.
- Section 6 of the Policy Statement is amended: (1) by inserting, in the text preceding paragraph (a) and after the word “outstanding”, the words “interim disclosure statements,”; (2) by replacing, in paragraph (a), the words “audited annual financial statements” with the words “annual disclosure statements, audited annual financial statements,”; (3) by inserting, in paragraph (c) and after the words “current fiscal year,”, the words “interim disclosure statements,”.
- Section 15 of the Policy Statement is amended by replacing, in the French text of subparagraph (i) of subparagraph (d) of paragraph (1), the words “par elles” with the words “par la partie”.
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