Amendments to Act and Regulations in force December 15, 2001
The
Securities Amendment Act, 2001 will be proclaimed in force on
December 15, 2001. This summary
outlines the amendments.
However, the part of section 11 of amendment act that repeals section
37 of The Securities Act, 1988 will not come into force. Section
37 of the act requires registrants to give notice of certain changes.
Section 37 will stay in place until Multilateral Instrument 33-109 Registration
Information Requirements comes into force. MLI 33-109 will consolidate
and harmonize the information that registrants must provide the regulators.
The Securities
Amendment Regulations, 2001 will also be proclaimed in force on
December 15, 2001. This summary
outlines the amendments.
The Securities
Commission (Disclosure of Personal Information) Regulations will
come into force on December 15, 2001. These regulations prescribe the
conditions on which the Commission may disclose personal information pursuant
to new subsection 152.1(4) of The Securities Act, 1988.
Subsection 152.1(4) permits the Commission to disclose personal information
to other regulators and law enforcement agencies despite the privacy provisions
of The Freedom of Information and Protection of Privacy Act. However,
the disclosure must be for the purposes of The Securities Act, 1988
specified in section 3.1 which are to provide protection to investors
and to foster fair, efficient capital markets and confidence in capital
markets.
December 14, 2001
Contact:
Barbara Shourounis
Director
(306) 787-5842
