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O. Reg. 632/00: GENERAL

filed December 8, 2000 under Securities Act, R.S.O. 1990, c. S.5

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ONTARIO regulation 632/00

made under the

securities act

Made: September 12, 2000
Filed: December 8, 2000

Amending Reg. 1015 of R.R.O. 1990

(General)

1. Subsection 1 (4) of Regulation 1015 of the Revised Regulations of Ontario, 1990 is amended by striking out “Subject to section 58” and substituting “Subject to Ontario Securities Commission Rule 41-501 General Prospectus Requirements and to National Instrument 44-101 Short Form Prospectus Distributions and”.

2. (1) Subsection 2 (3) of the Regulation is revoked and the following substituted:

(3) If the issuer is a bank listed in Schedule 1 or II to the Bank Act (Canada) or is a company undertaking and transacting life insurance that is licensed under the Insurance Act, the issuer’s financial statements are not required to comply with the following provisions if the financial statements are prepared in accordance with a statute incorporating, continuing or governing the issuer and in accordance with any applicable generally accepted accounting principles:

1. Subsection (1).

2. Subsection 9.1 (1) of Ontario Securities Commission Rule 41-501 General Prospectus Requirements.

3. Subsection 7.1 (1) of National Instrument 44-101 Short Form Prospectus Distributions.

(2) Subsection 2 (5) of the Regulation is amended by striking out “sections 9, 52, 65, 91 and 94” and substituting “sections 9, 91 and 94”.

3. Sections 34, 35, 36 and 37 of the Regulation are revoked.

4. Paragraphs 1, 2, 4, 5, 6 and 7 of subsection 38 (1) of the regulation are revoked.

5. Sections 39, 40, 41 and 42 of the Regulation are revoked.

6. Sections 45, 46, 47, 48 and 49 of the Regulation are revoked.

7. Sections 52, 53, 55, 56, 57, 58 and 59 of the Regulation are revoked.

8. Sections 61, 62, 63, 64, 65 and 66 of the Regulation are revoked.

9. Section 72 of the Regulation is revoked and the following substituted:

72. The following provisions apply with necessary modifications to a statement of material facts:

1. Section 60.

2. Subsection 3.2 (4), section 4.9, Part 9, section 10.1, paragraphs 2 and 3 of subsection 13.2 (1), paragraph 6 of subsection 13.2 (2), paragraphs 7 and 8 of subsection 13.3 (1), paragraph 1 of subsection 13.3 (2), section 13.4 and clause 13.7 (3) (d) of Ontario Securities Commission Rule 41-501 General Prospectus Requirements.

3. Item 9 of Form 41-501F1 Information Required in a Prospectus.

10. Sections 80, 81 and 82 of the Regulation are revoked.

11. Forms 12, 13 and 14 of the Regulation are revoked.

12. This Regulation comes into force on the day that the rule made by the Ontario Securities Commission on September 12, 2000 entitled “Ontario Securities Commission Rule 41-501 General Prospectus Requirements” comes into force.

Ontario Securities Commission:

J.A. Geller

Vice-Chair

Stephen N. Adams

Commissioner

Dated on September 12, 2000.

Note: The rule made by the Ontario Securities Commission on September 12, 2000 entitled “Ontario Securities Commission Rule 52/00