2020-11-12

Order approving the Regulation to amend Regulation 51-102 respecting Continuous Disclosure Obligations

The Minister of Finance approved the Autorité des marchés financiers' Regulation to amend Regulation 51-102 respecting Continuous Disclosure Obligations. The amendment modifies the significance tests for business acquisitions by raising the percentage thresholds from 20% to 30% for most reporting issuers and from 30% to 100% for venture issuers. The regulation came into force on November 18, 2020, with a delayed effective date for Saskatchewan if filed after that date.

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Part 2 GAZETTE OFFICIELLE DU QUÉBEC, November 11, 2020, Vol. 152, No. 46 3099 M.O., 2020 Order of the Minister of Agriculture, Fisheries and Food, dated 27 October 2020 Animal Health Protection Act (chapter P-42) Regulation to amend the Regulation to designate con￾tagious or parasitic diseases, infectious agents and syndromes Minister of Agriculture, Fisheries and Food, Considering subparagraph e of paragraph 1 of sec￾tion 3 of the Animal Health Protection Act (chapter P-42), which provides that the Minister of Agriculture, Fisheries and Food may make regulations to designate the conta￾gious or parasitic diseases and the infectious agents or the syndromes for the purposes of the provisions of section 9 relating to the health certification of imported animals; Considering the publication in Part 2 of the Gazette officielle du Québec of 29 April 2020, in accordance with sections 10 and 11 of the Regulations Act (chapter R-18.1), of the Regulation to amend the Regulation to designate contagious or parasitic diseases, infectious agents and syndromes with a notice that it could be made by the Minister on the expiry of 45 days following that publica￾tion and that any interested person could make comments before the expiry of the 45-day period; Considering that it is expedient to make the Regulation without amendment; Orders as follows: The Regulation to amend the Regulation to designate contagious or parasitic diseases, infectious agents and syndromes, attached to this Order, is hereby made. Québec, 27 October 2020 André Lamontagne, Minister of Agriculture, Fisheries and Food Regulation to amend the Regulation to designate contagious or parasitic diseases, infectious agents and syndromes Animal Health Protection Act (chapter P-42, s. 3)

  1. The Regulation to designate contagious or parasitic diseases, infectious agents and syndromes (chapter P-42, r. 4.2) is amended in section 7 by inserting the following after paragraph 3: “(4) varroa mite (Varroa destructor) resistant to acaricides.”.
  2. This Regulation comes into force on the fifteenth day following the date of its publication in the Gazette officielle du Québec. 104692 M.O., 2020-20 Order number V-1.1-2020-20 of the Minister of Finance dated 22 October 2020 Securities Act (chapter V-1.1) Concerning the Regulation to amend Regula￾tion 51-102 respecting Continuous Disclosure Obligations Whereas paragraphs 1, 8 and 20 of section 331.1 of the Securities Act (chapter V-1.1) provide that the Autorité des marchés financiers may make regulations concerning the matters referred to in those paragraphs; Whereas the third and fourth paragraphs of sec￾tion 331.2 of the said Act provide that a draft regulation shall be published in the Bulletin de l’Autorité des marchés financiers, accompanied with the notice required under section 10 of the Regulations Act (chapter R-18.1) and may not be submitted for approval or be made before 30 days have elapsed since its publication; Whereas the first and fifth paragraphs of the said section provide that every regulation made under sec￾tion 331.1 must be approved, with or without amendment, by the Minister of Finance and comes into force on the date of its publication in the Gazette officielle du Québec or on any later date specified in the regulation;

3100 GAZETTE OFFICIELLE DU QUÉBEC, November 11, 2020, Vol. 152, No. 46 Part 2 Whereas the Regulation 51-102 respecting Continuous Disclosure Obligations was made by ministerial order no. 2005-03 dated 19 May 2005 (2005, G.O. 2, 1507); Whereas there is cause to amend this Regulation; Whereas the draft Regulation to amend Regula￾tion 51-102 respecting Continuous Disclosure Obligations was published in the Bulletin de l’Autorité des marchés financiers, vol. 16, no. 35 of 5 September 2019; Whereas the revised text of the draft Regulation to amend Regulation 51-102 respecting Continuous Disclosure Obligations was published in the Bulletin de l’Autorité des marchés financiers, vol. 17, no. 33 of 20 August 2020; Whereas the Autorité des marchés financiers made, on 29 September 2020, by the decision no. 2020-PDG￾0060, Regulation to amend Regulation 51-102 respecting Continuous Disclosure Obligations; Whereas there is cause to approve this Regulation without amendment; Consequently, the Minister of Finance approves without amendment the Regulation to amend Regulation 51-102 respecting Continuous Disclosure Obligations appended hereto. 22 October 2020 Eric Girard, Minister of Finance Regulation to amend Regulation 51-102 respecting continuous disclosure obligations Securities Act (chapter V-1.1, s. 331.1, par. (1), (8) and (20))

  1. Section 8.3 of Regulation 51-102 respecting Continuous Disclosure Obligations (chapter V-1.1, r. 24) is amended: (1) by replacing paragraph (1) with the following: “(1) An acquisition of a business or related businesses is a significant acquisition, (a) for a reporting issuer that is not a venture issuer, if the acquisition satisfies 2 or more of the significance tests set out in subsection (2); and (b) for a venture issuer, if the acquisition satisfies either of the significance tests set out in paragraphs (2)(a) or (b) if “30%” is read as “100%”.”; (2) by replacing, in subparagraphs (a), (b) and (c) of paragraph (2), “20%” with “30%”; (3) in paragraph (3): (a) by replacing, in the text preceding subparagraph (a), “Despite subsection (1), if” with “If”; (b) by replacing, in subparagraph (b), “20%” with “30%”; (4) by replacing, in subparagraphs (a), (b) and (c) of paragraph (4), “20%” with “30%”; (5) by replacing paragraph (5) with the following: “(5) Despite subsection (1) and for the purposes of subsection (3), an acquisition of a business or related businesses is not a significant acquisition, (a) for a reporting issuer that is not a venture issuer, if the acquisition does not satisfy at least 2 of the optional significance tests under subsection (4); or (b) for a venture issuer, if the acquisition would not satisfy the optional significance tests set out in para￾graphs (4) (a) and (b) if “30%” were read as “100%”.”.
  2. (1) This Regulation comes into force on 18 November 2020. (2) In Saskatchewan, despite subsection (1), if this Regulation is filed with the Registrar of Regulations after 18 November 2020, this Regulation comes into force on the day on which it is filed with the Registrar of Regulations. 104683