Notice of Ministerial Approval of IFRS-Related Amendments to Securities Rules and Regulation 1015 under the Securities Act

 

 

 

On November 23, 2010, the Minister of Finance approved National Instrument 52-107 Acceptable Accounting Principles and Auditing Standards (NI 52-107) and amendments to additional rules set out in Appendix A. NI 52-107 and the approved amendments implement the changeover in Canada to International Financial Reporting Standards (IFRS) for financial years beginning on or after January 1, 2011. The amendments were made by the Commission in September 2010 and come into force on January 1, 2011, generally in relation to financial years beginning on or after January 1, 2011. The amendments were published in Supplement 3 of the October 1, 2010 Bulletin.

 

 

On November 23, 2010, the Minister of Finance also approved amendments to Regulation 1015 under the Securities Act in connection with NI 52-107, which amendments were filed as O. Reg. 437/10 on November 29, 2010. These amendments come into force on January 1, 2011. They are consistent with the description given in Appendix K of the notice relating to NI 52-107 in Supplement 3 of the October 1, 2010 Bulletin.

Related to the Commission’s approval of NI 52-107 and the other IFRS-related amendments, the Commission also approved a new Companion Policy to NI 52-107, as well as amendments to other policies set out in Appendix B.

Staff Notices withdrawn effective on the coming-into-force of NI 52-107 are set out in Appendix C.

IFRS-related rule and policy amendments covered by Supplement 3 of the October 1, 2010 Bulletin are being republished in the Bulletin today in Supplement 5. There are no changes from the October 1, 2010 publication, with the following exceptions:

1. The Commission has corrected the first sentence of section 2.9 of the Companion Policy to NI 52-107 by replacing the words “less that nine” with the words “less than nine”.
2. The Commission has corrected the first sentence of section 2.20 of the Companion Policy to NI 52-107 by deleting the words “prepared financial statements”.
3. The Commission has corrected the wording of section 3.5 of the Companion Policy to OSC Rule 13-502 Fees by replacing the words “less the current portion” in that section by the words “including the current portion”.

The text of the IFRS-related amendments to Regulation 1015 under the Securities Act is published in Chapter 9.

Other IFRS-related amendments to National Policy 41-201 Income Trusts and Indirect Offerings and CSA Staff Notice 52-306 Non-GAAP Financial Measures were published in the Bulletin on November 12, 2010. They are not reproduced today, but may be accessed on the OSC website.

As referred to in CSA Staff Notice 81-320 published on October 8, 2010, IFRS-related amendments to National Instrument 81-106 Investment Fund Continuous Disclosure have been deferred.

December 10, 2010

 

 

 

 

 

OSC Rule 13-502 Fees

OSC Rule 13-503 (Commodity Futures Act) Fees

National Instrument 13-101 System for Electronic Document Analysis and Retrieval (SEDAR)

National Instrument 14-101 Definitions

National Instrument 21-101 Marketplace Operation

National Instrument 31-103 Registration Requirements and Exemptions

National Instrument 33-109 Registration Information

National Instrument 41-101 General Prospectus Requirements

National Instrument 44-101 Short Form Prospectus Distributions

National Instrument 44-102 Shelf Distributions

National Instrument 45-106 Prospectus and Registration Exemptions

National Instrument 51-102 Continuous Disclosure Obligations

OSC Rule 51-801 Implementing National Instrument 51-102 Continuous Disclosure Obligations

National Instrument 52-109 Certification of Disclosure in Issuers’ Annual and Interim Filings

National Instrument 52-110 Audit Committees

National Instrument 54-101 Communication with Beneficial Owners of Securities of a Reporting Issuer

OSC Rule 62-504 Take-Over Bids and Issuer Bids

National Instrument 71-102 Continuous Disclosure and Other Exemptions Relating to Foreign Issuers

OSC Rule 71-802 Implementing National Instrument 71-102 Continuous Disclosure and Other Exemptions Relating to Foreign Issuers

 

 

 

 

 

National Policy 12-202 Revocation of a Compliance-related Cease Trade Order

National Policy 12-203 Cease Trade Orders for Continuous Disclosure Defaults

Companion Policy to OSC Rule 13-502 Fees

Companion Policy to National Instrument 31-103 Registration Requirements and Exemptions

Companion Policy to National Instrument 41-101 General Prospectus Requirements

Companion Policy to National Instrument 44-101 Short Form Prospectus Distributions

Companion Policy to National Instrument 45-106 Prospectus and Registration Exemptions

OSC Policy 51-601 Reporting Issuer Defaults

OSC Policy 51-604 Defence for Misrepresentations in Forward-Looking Information

Companion Policy to National Instrument 51-102 Continuous Disclosure Obligations

Companion Policy to National Instrument 52-109 Certification of Disclosure in Issuers’ Annual and Interim Filings

Companion Policy to National Instrument 71-102 Continuous Disclosure and Other Exemptions Relating to Foreign Issuers

 

 

 

 

 

OSC Staff Accounting Communiqué 52-706 No Requirement to Provide Management Report under CICA

OSC Staff Accounting Notice 52-709 Income Statement Presentation of Goodwill Charges

OSC Staff Accounting Communiqué 52-711 Income Statement Presentation

OSC Staff Accounting Communiqué 52-712 Accounting Basis in an Initial Public Offering (“IPO”)

OSC Staff Notice 52-713 Report on Staff’s Review of Interim Financial Statements and Interim Management’s Discussion and Analysis – February 2002

OSC Staff Accounting Communiqué 52-714 Restructuring and Similar Charges (Including Write-downs of Goodwill)