Suspension of
Local Instrument 32-501 Deposit Agents extended until
October 1, 2006
On December 5,
2006 the Director issued General Ruling Order 32-801 Suspension
of Local Instrument 32-501 Deposit Agents (“GRO 32-801”)
suspending the implementation on Local Instrument 32-501
Deposit Agents from January 1 to April 1, 2006.
On February 13,
2006 the Director amended
GRO 32-801
further extending the implementation of LI 32-501 until October 1,
2006. The further extension is necessary to work out issues
related to the financial institution bond required under section
11 of LI 32-501.
We will inform
deposit agents of the outcome of this initiative.
In the meantime,
you should review your agreements with financial institutions to
ensure that you will be complying with LI 32-501 when it comes
into force. LI 32-501 is based on the current Deposit Agent
Rules, and in most cases no changes to these agreements will be
required. But you should review them just to be sure.
Dated February
13, 2005
Contact:
Dean Murrison
Deputy Director, Legal and Registration
Phone: (306) 787-5879
E-mail:
dmurrison@sfsc.gov.sk.ca
