Notice

Commission Regulations Amending Local Instruments Came Into Force on December 31, 2004

On December 31, 2004 The Securities Commission (Local Instruments) Amendment Regulations, 2004 (No. 2) came into force.  The regulations:

• amend Local Instrument 33-502 Requirements for Sale of Certain Securities so that the requirements of Part 4 relating to the sale of securities of Labour Sponsored Venture Capital Corporation securities do not apply to investment dealers.  GRO 33-902 Exemption from Part 4 of Local Instrument 33-502 Requirements for Sale of Certain Securities currently provides the same exemption.  GRO 33-902 has been repealed effective December 31, 2004.
  
  
• amends Local Instrument 33-503 Permanent Registration System to reflect the exemptions granted in GRO 33-903 and GRO 33-904.  GRO 33-903 Permanent Registration System was issued on December 9, 2002 and granted exemptions to extend a firm's grace period when it fails to file annual fees by December 15 of any year.  GRO 33-904 Permanent Registration System and the National Registration Database was issued on November 24, 2003 and granted exemptions necessary to implement the National Registration Database by extending the filing deadlines in 33-503.  GRO 33-903 and GRO 33-904 have been repealed effective December 31, 2004. 
  
  
• Repeal Local Instrument 51-501 Annual Information Form and Management's Discussion and Analysis  because it has been replaced by the provisions in National Instrument 52-102 Continuous Disclosure Requirements.

January 3, 2005

Contact:

Barbara Shourounis
Director, Securities Division
Saskatchewan Financial Services Commission
306-787-5842
bshourounis@sfsc.gov.sk.ca