General
Ruling/Order 45-917 Filing Requirements for Amended Offering
Memoranda
On September 29,
2006 the Director of the Commission’s Securities Division issued
General
Ruling/Order Filing Requirements for Amended Offering Memoranda
(GRO 45-917) exempting issuers from the requirement in
clause 80.1(3)(b) of The Securities Act,
1988 (the Act) to file an
amended offering memorandum on or before the tenth day of the
amendment, provided that they file the amended offering memorandum
within 10 days of the date of the distribution of the securities
pursuant to the amended offering memorandum.
Clause
80.1(1)(b) of the Act requires an offering
memorandum to be filed on or before the tenth day after the
distribution of securities pursuant to the offering memorandum.
Clause 80.1(3)(b) of the Act requires an amended offering
memorandum to be filed on or before the tenth day after the
offering memorandum was amended. There is no rationale for the
difference in filing requirements. GRO 45-917 has the
effect of making the filing requirements the same for offering
memoranda and amended offering memoranda.
Dated October 3,
2006
Contact:
Barbara Shourounis
Director, Securities Division
Phone: (306) 787-5842
E-mail:
bshourounis@sfsc.gov.sk.ca
