2023-06-01

Amendments to Policy Statement to Regulation 61-101 Respecting Protection of Minority Security Holders in Special Transactions

Canadian securities regulators amended the Policy Statement to Regulation 61-101 to mandate electronic transmission of documents to regulators outside Québec via the System for Electronic Data Analysis and Retrieval (SEDAR+). The amendment inserts a new section defining electronic transmission requirements and clarifying that the term 'document' encompasses all reports, forms, applications, and notices required or permitted to be filed. Market participants must consult Regulation 13-103 to understand the phased implementation and specific exclusions applicable to SEDAR+ filings.

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AMENDMENTS TO POLICY STATEMENT TO REGULATION 61-101 RESPECTING PROTECTION OF MINORITY SECURITY HOLDERS IN SPECIAL TRANSACTIONS

  1. Policy Statement to Regulation 61-101 respecting Protection of Minority Security Holders in Special Transactions is amended by inserting, after section 1.1, the following: “1.2. Electronic Transmission Regulation 13-103 respecting System for Electronic Data Analysis and Retrieval + (SEDAR+) (insert reference) prescribes that each document that is required or permitted to be provided to a regulator, except in Québec, or securities regulatory authority must be transmitted to the regulator, except in Québec, or securities regulatory authority electronically through the System for Electronic Data Analysis and Retrieval + (SEDAR+). The reference to a document includes any report, form, application, information, material and notice, as well as a copy thereof, and applies to documents that are required or permitted to be filed or deposited with, or delivered, furnished, sent, provided, submitted or otherwise transmitted to, a regulator, except in Québec, or securities regulatory authority. To reflect the phased implementation of SEDAR+, the Appendix of Regulation 13-103 respecting System for Electronic Data Analysis and Retrieval + (SEDAR+) sets out securities legislation under which documents are excluded from being filed or delivered in SEDAR+. Regulation 13-103 respecting System for Electronic Data Analysis and Retrieval + (SEDAR+) should be consulted when providing any document to a regulator, except in Québec, or securities regulatory authority under the Regulation and this Policy Statement.”.