Table of Concordance: OSC Rule - 41-501 - General Prospectus Requirements and Forms (Repealed by 41-801 on March 17, 2008)

Table of Concordance: OSC Rule - 41-501 - General Prospectus Requirements and Forms (Repealed by 41-801 on March 17, 2008)

OSC Rule



RULE 41-501 GENERAL PROSPECTUS REQUIREMENTS,
COMPANION POLICY TO GENERAL
PROSPECTUS REQUIREMENTS 41-501CP AND
FORM 41-501F1 INFORMATION REQUIRED IN A PROSPECTUS

 

TABLE OF CONCORDANCE WITH OSC POLICY NOS 5.1 AND 5.7,
UNIFORM ACT POLICIES 2-01, 2-02, 2-03 AND 2-04
AND CERTAIN PROVISIONS OF PART III OF THE REGULATION TO
THE SECURITIES ACT RSO 1990 c S5, AS AMENDED

Item EXISTING PROVISION Treatment(1)
1. Part III, Regulation 1015, as amended, sections 33-66 and 79-82  
  Section 33 To be revoked (summary statements no longer used)
  Section 34 (1) Rule 41-501, s. 2.3(1) and 6.5(1)
  (2) To be revoked as covered in general exemption authority in Rule 41-501, Part 8.
  (3) Rule 41-501, s. 6.5(2)
  (4) Rule 41-501, s. 2.3(1) and Form 41-501F1, Item 28.3
  (5) Rule 41-501, s. 2.3(2) and Form 41-501F1, Item 28.3
  Section 35 Rule 41-501, s. 6.8(7)
  Section 36 Rule 41-501, s. 6.1(8)
  Section 37 (1) To be revoked (definitions of "trustee", "trust indenture" and "underwriter" no longer required as section 39 of the Regulation to be revoked)
  (2) To be revoked. New definition of these terms will be included in National Instrument 43-101 and 43-102 which will be the successor instruments to National Policy Nos. 2.A and 2.B, respectively
  Section 38 (1) 1 Rule 41-501, s. 7.1(1)
  (1) 2 Rule 41-501, s. 7.1(2)
  (1) 3 To be revoked (the escrow requirements will be reformulated in a rule, which will replace existing Policy 5.9)
  (1) 4 Rule 41-501, s. 7.1(3)
  (1) 5 Form 41-501F1, Item 1.9(3) and Rule 41-501, s. 7.1(4)
  (1) 6 Form 41-501F1, Item 1.7(5)
  (1) 7 Form 41-501F1, Items 1.4(5) and 19.5
Rule 41-501, s.7.1(5)
60 day period extended to 90 days.
  (2) To be revoked
  Section 39 To be revoked
  Section 40 To be revoked (Form 41-501F1 will replace Form 12)
  Section 41 To be revoked (Form 41-501F1 will replace Form 13)
  Section 42 To be revoked (Form 41-501F1 will replace Form 14)
  Section 43 To be revoked (to be covered in Rule 54-501)
  Section 44 (1) To be included in Rule 41-502 - Mutual Funds
  (2) To be revoked (summary statements no longer used)
  Section 45 To be revoked (no longer useful as Form 41-501F1 consolidates the three principal prospectus forms)
  Section 46 Rule 41-501, s. 2.4 and Companion Policy 41-501CP s.1.3
  Section 47 Form 41-501F1 General Instruction 5
  Section 48 To be revoked (not required as forms do not create the suggested inference)
  Section 49 (1) Rule 41-501 S. 2.2(1), Companion Policy 41-501CP, s.1.2 and Form 41-501F1 General Instructions
  (2) Rule 41-501, s. 2.2(1)
  (3) To be revoked
  (4) Rule 41-501, s. 2.2(2)
  (5) Rule 41-501, s. 2.2(3) and Form 41-501F1, Item 2
  (6) Rule 41-501, s. 2.2(4)
  Section 50 National Instrument 41-101, s. 2.2 and Form 41-501F, Item 1.2
  Section 51 Form 41-501F1, Item 1.1 and National Instrument 41-101,s. 2.1
  Section 52 (1) Rule 41-501 s. 1.2
  (2) Rule 41-501 S. 3.4(4) and 5.4
  Section 53 (1) Rule 41-501, s. 3.1(1) (five year requirement reduced to three years)
  (2) Rule 41-501, s. 3.1(2)
  (3) Rule 41-501, s. 3.1(4)
  (4) Rule 41-501, s. 3.1(5)
  (5) Rule 41-501, s. 3.1(6)
  (6) To be revoked
  Section 54 To be included in proposed Rule 41-502 - Mutual Funds
  Section 55 Companion Policy 41-501CP, s. 2.4
  Section 56 (1) Rule 41-501, s. 3.3
  (2) Rule 41-501, s. 3.4(3)
  Section 57 Rule 41-501, s. 3.2 and Companion Policy 41-501CP s.2.3
  Section 58 To be revoked.
  Section 59 Form 41-501F, Item 9
Requirement to provide asset coverage deleted.
  Section 60 (1) To be revoked. To be included in proposed National Instrument 52-101 Future Oriented Financial Information.
  (2) To be revoked. To be included in proposed National Instrument 52-101 Future Oriented Financial Information.
  (3) To be revoked. To be included in proposed National Instrument 52-101 Future Oriented Financial Information.
  Section 61 To be revoked. Rule 41-501 s. 3.3
  Section 62 Companion Policy 41-501CP, s. 2.5
  Section 63 To be revoked (see Part 8 of Rule 41-501).
  Section 64 Rule 41-501, s. 5.1(1) and (2)
  Section 65 (1) Rule 41-501, s. 3.4(1), (2)
  (2) Rule 41-501, s. 3.4(2)
  (3) Rule 41-501, s. 6.6(3)
  Section 66 (1) Rule 41-501, s. 6.6(1)
  (2) To be revoked. Replaced by s. 6.6 of Rule 41-501.
  Section 79 To be revoked. The escrow requirements are to be reformulated in a separate rule.
  Section 80 (1) To be revoked
  (2) To be revoked
  Section 81 (1) To be revoked. Replaced by s. 1.1 of Rule 41-501.
  (2) To be revoked. Authority to permit variations covered in general exempting authority in Rule 41-501, Part 8.
  Section 82 (1) To be revoked
  (2) To be revoked
2. Uniform Act Policy 2-01-"Undertakings" -- Extra-provincial Companies To be revoked in Ontario(see introductory note to UAP 2-01)
3. Uniform Act Policy 2-02- Prospectuses -- Annual Re-filings To be revoked in Ontario (this policy is superseded by s 62 of the Act)
4. OSC Policy 5.1 - Prospectuses--General Guidelines  
  Section 1 - Purpose of Issue - Experience of Officers and Directors - Other Resources Companion Policy 41-501CP, s. 1.1
  Section 2 - Good Standing of "Experts" To be revoked
  Section 3 - "Best Efforts" Offering - Minimum Subscriptions - Depository - Length of Offering Rule 41-501, s. 7.1(5)(b)
  Section 4 - Feasibility depending on Registration or Licensing Rule 41-501, s. 7.2 and Form 41-501F1, Item 19.6
  Section 5 - Disclosure of Market Stabilization during Distribution Form 41-501F1, Item 1.7(4) and 19.4 Conformed with Appendix B, Item 7(3) of proposed National Instrument 44-101 [National Policy 47].
  Section 6 - Right to Redemption or Repurchase - Disclosure Form 41-501F1, Item 10.1(5)
  Section 7 - Representations as to Listing on a Stock Exchange Paragraph (b) included in Form 4100F, Item 1.7(3)
  Section 8 - Natural Resource Issuers - Property in "Cautioned" Townships To be revoked
  Section 9 - Natural Resource Issuers - Escrowed Shares To be revoked
  Section 10 - Green Shoe Options, Warrants and Convertible Securities Part A - Moved to proposed Rule 48-502 Underwriters Options and new disclosure requirement added in Item 1.4(2) of Form 41-501F
Part B - Moved to Rule 41-501, s. 6.13, disclosure requirement added in Form 4100F, Item 11.1(6) and explanation in Companion Policy 41-501CP, s. 4.5
  Section 11 - Extension of 75 day period for Issuance of Final Receipt Companion Policy 41-501CP, s. 5.1
  Section 12 - Certificate of Underwriter in Prospectus Companion Policy 41-501CP, s. 1.5
  Section 13 - Apartment Conversions To be revoked
  Section 14 - Delivery of Comment Letters To be revoked
  Section 15 - Documents and Information to be Filed Rule 41-501, s. 6.1 and 6.2
  Section 16 - Project Financings Companion Policy 41-501CP s. 5.2
  Section 17 - Sale by a Constrained Share Corporation of Shares held by Non-Canadians Form 41-501F1, Item 10.3(1)
  Section 18 - Offerings in Which Trust Companies are Involved To be revoked
  Section 19 - Deposit-Taking Issuers Replaced by MD&A requirement
  Section 20 - Extended Distribution Period for Real Estate-based Securities To be revoked
  Section 21 - Dilution To be revoked
  Section 22 - Offerings of Approved Rating Debt Securities and Approved Rating Preferred Shares at Non-Fixed Prices Form 41-501F1, Item 1.5
Rule 41-501, s. 4.1
  Section 23 - Acquisitions Rule 41-501, s. 3.3(1), and Companion Policy 41-501CP, s. 2.4.
  Section 24 - Prospectus Disclosure in Information Circulars; Amalgamation, Arrangements, Mergers and Reorganizations To be included in proposed Rule 54-501
  Section 25 - International Offerings Paragraph (a) in 41-501, s. 6.7; paragraphs (b), (c), (d) and (e) to be revoked and paragraph (d) included as new Item 1.10 of Form 41-501F1. Paragraph (e) not required in view of reorganization of Commission.
  Section 26 - Trading by Issuers, Selling Security Holders, Underwriters, Dealers and Their Affiliates and Joint Actors During a Distribution by Prospectus of TSE-listed Securities To be included in proposed Rule 48-501 Market Stabilization
  Appendix A - Issuer Form of Submission to Jurisdiction and Appointment of Agent for Service of Process Form 41-501F3
  Appendix B - Non Issuer Form of Submission to Jurisdiction and Appointment of Agent for Service of Process Form 41-501F4
5. OSC Policy 5.7 - Preliminary Prospectuses -- Preparation, Filing and Frequently Occurring Deficiencies  
A Section 1 -General Rule 41-501, s. 6.1
  Section 1a - General -- Mutual Funds To be included in proposed Rule 41-502 Mutual Funds
  Section 1b - Freedom of Information and Protection of Privacy Act, 1987 Rule 41-501, s. 6.1
  Section 2 - Other Regulatory Authorities Rule 41-501, s. 6.8
  Section 3 - Secondary Offerings Rule 41-501, s. 4.2
  Section 4 - Opinions Form 41-501F1, Item 28.1 (paragraph 4(b) to be revoked)
  Section 5 - Layman's Terms To be revoked (covered by subsection 56(1) of the Act)
  Section 6 - Certificates Rule 41-501, s. 5.3
  Section 7 - Final Material Rule 41-501, s. 3.1(3)
  Section 8 - Directors' Resolutions To be revoked
  Section 9 - Project Financing and Limited Partnership Offering To be revoked
  Section 10 - Marked-up Copies Companion Policy 41-501CP, s. 4.2
B Frequently Occurring Deficiencies

Section 1 - Concurrent Applications

 To be revoked
  Section 2 - Face Page Disclosure Item 1 of Form 41-501F1 - Information Required in a Prospectus
  Section 3 - Certificates To be revoked
  Section 4 - Final Material To be revoked
  Section 5 - Applicable Policies To be revoked
  Schedule "A" - Collection of Personal Information Pursuant to the Freedom of Information and Protection of Privacy Act, 1987 Form 41-501F2
6. OSC Policy Notice #6 To be revoked
7. Blanket Ruling 36 To be revoked
8. OSCN - Disclosure of Investigations (1990), 13 OSCB 598
 Companion Policy 41-501CP, s. 4.3
9. OSCN-Prospectus Disclosure of Ratings (A30-9) To be revoked (mandatory disclosure of ratings now provided for in Form 41-501F1, Item 10.4)
10. OSCN - Interpretation Note 2 (1983)

OSCB 4536

 Companion Policy 41-501CP, s. 1.4
11. UAP 2-03 - Prospectuses and Amendments -- Certification (Section 52) Supporting Documentation To be revoked in Ontario
12. UAP 2-04 - Consent of Solicitors -- Disclosure of Interest Companion Policy 41-501CP, s. 4.1
13. OSCN - Auditors' Consent and Comfort Letters (A30-6) To be revoked
14. OSCN - OSC Notice re Issuance of receipts on a specific day 02/04/94 Rule 41-701
15. Filing of Prospectuses with the Commission (A30-281) To be revoked

1. 1. A statement that an existing provision is "to be revoked" means that it will be revoked and not reformulated in a new instrument. All other provisions are tobe included in the new instrument indicated.