Staff Notice: OSC Staff Notice - 41-701 - Issuance of Receipts for Preliminary Prospectus and Prospectuses

ONTARIO SECURITIES COMMISSION STAFF NOTICE 41-701
ISSUANCE OF RECEIPTS FOR PRELIMINARY PROSPECTUSES AND PROSPECTUSES⁽¹⁾

 

This notice is being issued to remind issuers and their advisors wishing to receivea receipt for either a preliminary prospectus or a prospectus on a specific day that the preliminaryprospectus or prospectus and all accompanying material should be received by staff in acceptableform on or before 12:00 noon on the day that the receipt is required. If material is filed after12:00 noon, the receipt will normally be issued before noon on the next business day and datedas of that day. Issuers that anticipate filing a prospectus and the accompanying material after12:00 noon and that would like to obtain a receipt on the day of filing should make specialarrangements in advance with the Market Operations staff who have been assigned to review theprospectus.

Special accommodation will be made for the issuance of receipts for certainpreliminary short form prospectuses. Issuers that have entered into bought deals in whichmarketing efforts have been made in reliance on [the blanket ruling, dated June 9, 1993, In theMatter of National Policy Statement No. 47 and the Solicitation of Expressions of Interest] mustfile a preliminary short form prospectus and obtain a receipt dated within two business days of thedate the underwriting agreement is entered into. In this situation, provided that the covering letterthat accompanies the short form preliminary prospectus refers to the Rule and that acceptablematerial is filed before 3:00 p.m. on a business day, every effort will be made to ensure that areceipt for the preliminary short form prospectus is dated and issued on the day of filing, eventhough the receipt may not be available to be picked up until the following business day. Receiptsfor short form prospectuses filed in reliance on Ontario Securities Commission Notice 44-702 -Expedited Review of Short Form Prospectuses and Renewal AIFs will be issued in the mannerdescribed in the Notice.

For further information please contact:

Paul DeSousza
Manager
Market Operations
(416) 593-8313

Merle Shiwbhajan
Review Officer
Administration/Document Management
(416) 593-8239

May 2, 1997

1. This Notice replaces a staff notice published March 4, 1994.