2021-05-20

Draft Amendments to Policy Statement to Regulation 51-101 respecting Standards of Disclosure for Oil and Gas Activities

The Canadian securities regulators issued amendments to the Policy Statement accompanying National Instrument 51-101 regarding standards of disclosure for oil and gas activities. The changes specifically modify Section 2.4 by deleting a sentence in paragraph (1) and replacing specific phrasing in paragraph (2) to clarify that a reporting issuer can include required information in its Annual Information Form. These adjustments streamline the regulatory language governing how issuers disclose information under Regulation 51-101.

Canada

Autorite des marches financiers Quebec

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AMENDMENTS TO POLICY STATEMENT TO REGULATION 51-101 RESPECTING STANDARDS OF DISCLOSURE FOR OIL AND GAS ACTIVITIES

1. Section 2.4 of Policy Statement to Regulation 51-101 respecting Standards of Disclosure for Oil and Gas Activities is amended: (1) by deleting, in paragraph (1), the second sentence; (2) by replacing, in paragraph (2), “Form 51-102F2 Annual Information Form allows the information required by section 2.1 of Regulation 51-101 to be included in the” with “A reporting issuer can include the information required by section 2.1 of Regulation 51-101 in its”.