Securities Law & Instruments

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REVISED NOTICE OF RULE

NATIONAL INSTRUMENT 31-101 NATIONAL REGISTRATION SYSTEM,

NATIONAL POLICY 31-201 NATIONAL REGISTRATION SYSTEM

The Commission is publishing in today's Bulletin a revised version of the Notice that accompanied the publication of National Instrument 31-101 National Registration System and National Policy 31-201 National Registration System in the January 7, 2005 edition of the Bulletin. We are not re-publishing the appendices to the Notice or the National Instrument or the National Policy as there are no changes to them.

The material revisions to the Notice clarify certain procedural matters in Québec and British Columbia. A black-lined version of the Notice showing all changes made to the previously published version of the Notice accompanies the revised version.

As stated when the Notice was first published, the National Instrument and the materials required by the Securities Act, Ontario to be delivered to the Minister responsible for the administration of the Act were delivered on December 21, 2004. If the Minister approves the National Instrument, does not reject the National Instrument or return it to the Commission for further consideration, it will come into force on April 4, 2005.