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Notice

Vol. 140, No. 36 — September 9, 2006

Insider Reports (Banks and Bank Holding Companies) Regulations

Statutory authority

Bank Act

Sponsoring department

Department of Finance

REGULATORY IMPACT ANALYSIS STATEMENT

For the Regulatory Impact Analysis Statement, see the Civil Remedies (Banks and Bank Holding Companies) Regulations.

PROPOSED REGULATORY TEXT

Notice is hereby given that the Governor in Council, pursuant to section 268 (see footnote 1) of the Bank Act (see footnote 2), proposes to make the annexed Insider Reports (Banks and Bank Holding Companies) Regulations.

Interested persons may make representations with respect to the proposed Regulations within 30 days after the date of publication of this notice. All such representations must cite the Canada Gazette, Part I, and the date of this notice and be addressed to Mr. Gerry Salembier, Financial Sector Policy Branch, Department of Finance, L'Esplanade Laurier, 15th floor, East Tower, 140 O'Connor Street, Ottawa, Ontario K1A 0G5.

Ottawa, August 25, 2006

MARY O'NEILL
Assistant Clerk of the Privy Council

INSIDER REPORTS (BANKS AND BANK HOLDING COMPANIES) REGULATIONS

INTERPRETATION

1. In these Regulations, Act means the Bank Act.

INSIDER REPORTS

2. (1) For the purpose of paragraph 268(a) of the Act, an insider means an insider as it is defined, for the purpose of insider reports, under any legislation set out in column 2 of the schedule.

(2) For the purpose of paragraph 268(b) of the Act, the required form and content of an insider report are to be the form and content required for insider reports under any legislation set out in column 2 of the schedule.

(3) For the purpose of paragraph 268(c) of the Act, the procedure for the submission and publication of insider reports is to be the procedure required for the submission and publication of insider reports under any legislation set out in column 2 of the schedule.

3. An insider required to submit an insider report under any legislation set out in column 2 of the schedule is to comply with the requirements set out in that legislation.

EXEMPTION

4. (1) A person that is subject to an exemption under any legislation set out in column 2 of the schedule, or an order of the relevant provincial securities regulator, that provides that the person is not an insider for the purposes of the applicable legislation, is not an insider for the purpose of subsection 2(1).

(2) A person that is subject to an exemption from any or all insider reporting requirements under any legislation set out in column 2 of the schedule, or an order of the relevant provincial securities regulator, is also exempt from those requirements for the purposes of these Regulations.

REPEAL

5. The Insider Reports Regulations (see footnote 3) are repealed.

6. The Insider Reports Exemptions (Banks) Regulations (see footnote 4) are repealed.

COMING INTO FORCE

7. These Regulations come into force on the day on which they are registered.

SCHEDULE
(Sections 2 to 4)

PROVINCIAL LEGISLATION

Item	Column 1 Jurisdiction	Column 2 Legislation
1.	Ontario	Securities Act, R.S.O. 1990, c. S.5, as amended from time to time
2.	Quebec	Securities Act, R.S.Q., c. V-1.1, as amended from time to time
3.	Nova Scotia	Securities Act, R.S.N.S. 1989, c. 418, as amended from time to time
4.	New Brunswick	Securities Act, S.N.B. 2004, c. S-5.5, as amended from time to time
5.	Manitoba	The Securities Act, C.C.S.M., c. S50, as amended from time to time
6.	British Columbia	Securities Act, R.S.B.C. 1996, c. 418, as amended from time to time
7.	Saskatchewan	The Securities Act, 1988, S.S. 1988-89, c. S-42.2, as amended from time to time
8.	Alberta	Securities Act, R.S.A. 2000, c. S-4, as amended from time to time
9.	Newfoundland and Labrador	Securities Act, R.S.N.L. 1990, c. S-13, as amended from time to time

[36-1-o]

Footnote 1

S.C. 2005, c. 54, s. 56

Footnote 2

S.C. 1991, c. 46

Footnote 3

SOR/82-207

Footnote 4

SOR/2000-113

NOTICE:
The format of the electronic version of this issue of the Canada Gazette was modified in order to be compatible with hypertext language (HTML). Its content is very similar except for the footnotes, the symbols and the tables.


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Updated: 2006-11-23