Provisions of
The Securities Amendment Act, 2007 come into force on
February 15, 2008
The following
provisions of The
Securities Amendments Act, 2007 come into
force on February 15, 2008:
Take-over
bids
-
Section 39
- Repeals and substitutes new Part XVI "Take-over Bids and
Issuer Bids"
-
Section 40
- Repeals section 115 "Interpretation of Part"
-
Section 41
- Repeals 116 and substitutes new section 116 "Reports of
insiders" and new section 116.1 "Early warning"
Civil
liability
Section 51 of the amendment act adds Part XVIII.1 "Civil Liability
for Secondary Market Disclosure". New Part XVIII.1 contains
provisions that make reporting issuers civilly liable to investors
in the secondary market for misrepresentations in their public
disclosure, subject to reasonable limitations.
The following
amendments harmonize the wording of these current provisions with
the new provisions in Part XVIII.1:
February 15,
2008
Contact:
Barbara Shourounis
Director, Securities Division
(306) 787-5842
