Changes to National Policy 11-203 Process for Exemptive Relief Applications In Multiple Jurisdictions
Changes to National Policy 11-203 Process for Exemptive Relief Applications In Multiple Jurisdictions
CHANGES TO NATIONAL POLICY 11-203 PROCESS FOR EXEMPTIVE RELIEF APPLICATIONS IN MULTIPLE JURISDICTIONS
1. National Policy 11-203 Process for Exemptive Relief Applications in Multiple Jurisdictions is changed by this Document.
2. Part 2 is changed by adding "AND INTERPRETATION" at the end of its title.
3. The Policy is changed by adding the following section:
2.3 Electronic transmission -- National Instrument 13-103 System for Electronic Data Analysis and Retrieval + (SEDAR+) prescribes that each document that is required or permitted to be provided to a securities regulatory authority or regulator must be transmitted to the securities regulatory authority or regulator electronically through the System for Electronic Data Analysis and Retrieval + (SEDAR+).
The reference to a document includes any report, form, application, information, material and notice, as well as a copy thereof, and applies to documents that are required or permitted to be filed or deposited with, or delivered, furnished, sent, provided, submitted or otherwise transmitted to, a securities regulatory authority or regulator.
To reflect the phased implementation of SEDAR+, the Appendix of National Instrument 13-103 System for Electronic Data Analysis and Retrieval + (SEDAR+) sets out securities legislation under which documents are excluded from being filed or delivered in SEDAR+.
National Instrument 13-103 System for Electronic Data Analysis and Retrieval + (SEDAR+) should be consulted when providing any document to a securities regulatory authority or regulator under MI 11-102 and this policy..
4. Subsection 3.8(5) is deleted.
5. Section 4.2 is changed by
(a) deleting "by letter", and
(b) deleting "in the pre-filing".
6. Subsections 4.3(1) and 4.4(1) are changed by deleting "in the pre-filing".
7. Section 5.1 is changed by replacing "In its application, the" with "The".
8. Section 5.3 is changed
(a) in its heading by replacing "sections 4.7 and 4.8" with "section 4.7",
(b) by deleting subsection (2),
(c) in subsection (3) by deleting "or 4.8" and "and 4.8",
(d) in paragraph (4)(a) by deleting "or 4.8(1)",
(e) by replacing paragraph (4)(b) with the following:
(b) include the date of the decision of the principal regulator for the initial application if the notice is given under section 4.7(1)(c) of MI 11-102,, and
(f) in subsection (6) by deleting "or (2)".
9. Section 5.5 is replaced with the following:
5.5 Filing
(1) As indicated in section 2.3 of this policy, National Instrument 13-103 System for Electronic Data Analysis and Retrieval + (SEDAR+) should be consulted when providing any document to a securities regulatory authority or regulator under MI 11-102 or this policy. A filer should consult the Appendix of National Instrument 13-103 System for Electronic Data Analysis and Retrieval + (SEDAR+) to determine whether pre-filing or application materials are excluded from being filed or delivered in the System for Electronic Data Analysis and Retrieval + (SEDAR+).
(2) When pre-filing or application materials are to be transmitted through the System for Electronic Data Analysis and Retrieval + (SEDAR+), a filer should send the application materials together with the fees to
(a) the principal regulator, in the case of a passport application,
(b) the principal regulator and the OSC, in the case of a dual application, or
(c) each regulator from which the filer seeks exemptive relief, in the case of a coordinated review application.
(3) When pre-filing or application materials are excluded from being transmitted through the System for Electronic Data Analysis and Retrieval + (SEDAR+), a filer should send the application materials together with the fees to
(a) the principal regulator, in the case of a passport application,
(b) the principal regulator and the OSC, in the case of a dual application, or
(c) each regulator from which the filer seeks exemptive relief, in the case of a coordinated review application.
Filing the application concurrently in all required jurisdictions will make it easier for the principal regulator and non-principal regulators, if applicable, to process the application expeditiously.
When pre-filing or application materials are excluded from being transmitted through the System for Electronic Data Analysis and Retrieval + (SEDAR+), filers should send pre-filing or application materials using the relevant e-mail address or addresses listed below or by following the instructions at the linked web page below:
British Columbia
www.bcsc.bc.ca (click on BCSC e-services and follow the steps)
Alberta
Saskatchewan
Manitoba
Ontario
https://www.osc.ca/en/filing-documents-online
Québec
New Brunswick
Nova Scotia
Prince Edward Island
Newfoundland and Labrador
Yukon
Northwest Territories
Nunavut
10. Section 5.7 is changed by
(a) deleting ", fax number", and
(b) replacing "tell the filer, in the acknowledgement," with "notify the filer of".
11. Subsection 5.8(2) is changed by replacing "mark" with "treat".
12. Subsection 7.2(1) is changed by replacing "circulate" with "provide".
13. Subsection 8.1(2) is changed by deleting "or 4.8(l)(c)".
14. Part 9 is changed by deleting sections 9.2 and 9.3.
Effective Date
15. These changes become effective on June 9, 2023.