CDS CLEARING AND DEPOSITORY SERVICES INC. (CDS®)
TECHNICAL AMENDMENTS TO CDS RULES
ONGOING DOCUMENTATION REQUIREMENTS FOR DORMANT PARTICIPANTS
NOTICE OF EFFECTIVE DATE
A. DESCRIPTION OF THE PROPOSED AMENDMENTS
The proposed amendments are consequential amendments to the material Rule amendments published for comment on June 27, 2008 and subsequent technical CDS procedures amendments to be effective on November 1, 2008. The proposed amendments clarify the ongoing documentation requirements for dormant participants that elect to continue as dormant participants (as opposed to dormant participants that elect to be designated as an active participant). A new Rule 2.7.10(e) is proposed by extracting from Rule 2.7.10(d) the documentation requirements for dormant participants electing to continue in dormant status.
B. REASONS FOR TECHNICAL CLASSIFICATION
The amendments proposed pursuant to this Notice are considered technical amendments as they are consequential amendments intended to implement a material rule that has been published for comment pursuant to this protocol which only contain material aspects already contained in the material rule or disclosed in the notice accompanying the material rule.
C. EFFECTIVE DATE OF THE RULE
Pursuant to Appendix A ("Rule Protocol Regarding The Review And Approval Of CDS Rules By The OSC") of the Recognition and Designation Order, as amended on November 1, 2006, and Annexe A ("Protocole d'examen et d'approbation des Règles de Services de Dépot et de Compensation CDS Inc. par l'Autorité des marchés financiers") of AMF Decision 2006-PDG-0180, made effective on November 1, 2006, CDS has determined that these amendments will become effective on a date subsequently determined by CDS, and as stipulated in the related CDS Bulletin.
Pursuant to the unanimous shareholder agreement between The Canadian Depository for Securities Limited ("CDS Ltd.") and CDS, effective as of November 01, 2006 whereby CDS Ltd., which acts under the supervision of its Board of Directors, assumes all rights, powers, and duties of the CDS Board of Directors, these amendments were reviewed and approved by the Board of Directors of CDS Ltd. on October 8, 2008.
Questions regarding this notice may be directed to:
Managing Director, Legal
CDS Clearing and Depository Services Inc.
85 Richmond Street West
Toronto, Ontario M5H 2C9