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Notice

Vol. 140, No. 36 — September 9, 2006

Distributing Trust and Loan Company Regulations

Statutory authority

Trust and Loan Companies 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 subsection 2.3(1) (see footnote 1) of the Trust and Loan Companies Act (see footnote 2), proposes to make the annexed Distributing Trust and Loan Company 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

DISTRIBUTING TRUST AND LOAN COMPANY REGULATIONS

INTERPRETATION

1. In these Regulations, "Act" means the Trust and Loan Companies Act.

DISTRIBUTING

2. (1) For the purpose of subsection 2.3(1) of the Act and subject to subsections 2.3(2) and (3) of the Act and subsection (2) of this section, the following constitutes a distributing company:

(a) a company that is a reporting issuer under any legislation that is set out in column 2 of the schedule; or

(b) in the case of a company that is not a reporting issuer referred to in paragraph (a), a company

(i) that has filed a prospectus or registration statement under provincial or foreign legislation,

(ii) any of the securities of which are listed and posted for trading on a stock exchange in or outside Canada, or

(iii) that is involved in, is formed for, results from or is continued after an amalgamation, a reorganization, an arrangement or a statutory procedure, if one of the participating bodies corporate is an entity referred to in subparagraph (i) or (ii).

(2) A company that is subject to an exemption under provincial securities legislation, or to an order of the relevant provincial securities regulator that provides that the company is not a reporting issuer for the purposes of the applicable legislation, is not a distributing company for the purpose of subsection (1).

COMING INTO FORCE

3. These regulations come into force on the day on which they are registered.

SCHEDULE
(Paragraph 2(1)(a))

REPORTING ISSUER

Item	Column 1 Jurisdiction	Column 2 Legislation
1.	Ontario	the definition "reporting issuer" in subsection 1(1) of the Securities Act, R.S.O. 1990, c. S.5, as amended from time to time
2.	Quebec	the definition "reporting issuer" in sections 5 and 68 of the Securities Act, R.S.Q., c. V-1.1, as amended from time to time
3.	Nova Scotia	the definition "reporting issuer" in paragraph 2(1)(ao) of the Securities Act, R.S.N.S. 1989, c. 418, as amended from time to time
4.	New Brunswick	the definition "reporting issuer" in subsection 1(1) of the Securities Act, S.N.B. 2004, c. S-5.5, as amended from time to time
5.	Manitoba	the definition "reporting issuer" in subsection 80(1) of The Securities Act, C.C.S.M., c. S50, as amended from time to time
6.	British Columbia	the definition "reporting issuer" in subsection 1(1) of the Securities Act, R.S.B.C. 1996, c. 418, as amended from time to time
7.	Saskatchewan	the definition "reporting issuer" in paragraph 2(1)(qq) of The Securities Act, 1988, S.S. 1988-89, c. S-42.2, as amended from time to time
8.	Alberta	the definition "reporting issuer" in paragraph 1(ccc) and section 145 of the Securities Act, R.S.A. 2000, c. S-4, as amended from time to time
9.	Newfoundland and Labrador	the definition "reporting issuer" in paragraph 2(1)(oo) of the 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. 369

Footnote 2

S.C. 1991, c. 45

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