Notice: NI - 55-101 - Insider Reporting Exemptions

On April 11, 2001, the Minister of Finance approved National Instrument 55-101 Exemption from Certain Insider Reporting Requirements (the "National Instrument") as a rule under the Act. The purpose of the National Instrument is to provide certain insiders of a reporting issuer with certain exemptions from the obligation to file insider reports under Canadian securities legislation.

Previously, materials related to the National Instrument and Companion Policy 55-101 CP Exemption from Certain Insider Reporting Requirements (the "Companion Policy") were published in the Bulletin on August 20, 1999 at (1999) 22 OSCB 5161, June 16, 2000 at (2000) 23 OSCB 4212, and February 23, 2001 at (2001) 24 OSCB 1283.

The National Instrument and the Companion Policy will come into effect on May 15, 2001.

In connection with the implementation of the National Instrument, section 172 of Regulation 1015 of the Revised Regulations of Ontario, 1990 is revoked, effective May 15, 2001. Relief in respect of the same subject matter is being provided by Parts 5 and 7 of the National Instrument.

Ontario Securities Commission Policy 10.1 Applications for Exemption from Insider Reporting Obligations for Insiders of Subsidiaries and Affiliated Issuers is similarly rescinded effective May 15, 2001.

The final National Instrument and Companion Policy are being published in Chapter 5 of this issue of the Bulletin. The National Instrument together with the Regulation amending Regulation 1015 will also be published in the Ontario Gazette on May 12, 2001.