Notice Of National Instrument 54-101 Communication With Beneficial Owners Of Securities Of A Reporting Issuer And Companion Policy
On June 6, 2002 the Saskatchewan Securities Commission adopted as a Commission regulation, National Instrument 54-101 Communication with Beneficial Owners of Securities of a Reporting Issuer (including related forms)
(the "Instrument") and related Companion Policy NI 54-101CP Communication with Beneficial Owners of Securities of a Reporting Issuer (the "Policy") to deal with communication with beneficial owners of
securities of a reporting issuer.
The Instrument is expected to be also implemented as a rule in each of British Columbia, Alberta, Manitoba, Ontario, Newfoundland, Nova Scotia and Quebec, and as a policy in all other jurisdictions represented by the Canadian Securities Administrators
("CSA").
The forms related to the Instrument are: Forms 54-101F1, 54-101F2, 54-101F3, 54-101F4, 54-101F5,
54-101F6, 54-101F7, 54-101F8 and 54-101F9 (the "Forms").
Through the Instrument, the CSA seek to continue, with some changes, the regulatory regime concerning communications with beneficial owners of securities of a reporting issuers currently embodied in National Policy Statement No. 41 Shareholder Communication
("NP41"), which the Instrument will, together with National Instrument 54-102, replace.
Effective Dates
On June 6, 2002, the Commission adopted the Instrument as a Commission regulation under subsection 154(2) of The Securities Act, 1988 (Saskatchewan) (the "Act"). On June 19, 2002, the Instrument was approved by the Minister of Justice. It will come
into force on July 1, 2002. The transitional provisions in the Instrument provide that Non-Objecting Beneficial Owners ("NOBO") lists will not be required to be furnished before September 1, 2002, and the sending of proxy-related materials for meetings to be
held before September 1, 2004 may only be sent under the Instrument to NOBOs indirectly through the intermediaries holding on behalf of the NOBOs.
The Commission has adopted the Policy under section 154.1 of the Act. The Policy will come into force on the date that the Instrument comes into force.
Contact:
Barbara Shourounis
Director
787-5842
