Amendments to
National Instrument 55-101 Insider Reporting Exemptions came into force on
September 10, 2007.
The Securities
Commission (Adoption of National Instruments) Amendment
Regulations, 2007 (No.4) came into
force on September 10, 2007. The regulations adopt amendments to
National Instrument 55-101 Insider Reporting Exemptions.
The amendments
clarify some of the provisions in
National
Instrument 55-101 Insider Reporting Exemptions (NI 55-101)
and streamline some of the requirements in NI 55-101.
The definition of "normal course
issuer bid" has been revised to include a bid conducted in
accordance with the rules or policies of the Toronto Stock
Exchange, the TSX Venture Exchange or a recognized exchange as
defined in National Instrument 21-101 Marketplace Operation.
The definition of "senior officer" has been added and will
apply in jurisdictions that currently do not have a definition of
"senior officer". The limitation in section 5.2(3) now
requires a reporting issuer to file a notice on SEDAR rather than
a news release.
Changes to Companion Policy 55-101
Insider
Reporting Exemptions
include revisions to the guidance relating to recommended
record-keeping practices and reflect the change made to section
5.2(3) referred to above.
September 10, 2007
Contact:
Patti Pacholek
Legal Counsel
(306) 787 5871
