NOTICE OF MINISTERIAL APPROVAL OF AMENDMENTS TO
NATIONAL INSTRUMENT 31-103
REGISTRATION REQUIREMENTS, EXEMPTIONS AND ONGOING REGISTRANT OBLIGATIONS
NOTICE OF MINISTERIAL APPROVAL OF AMENDMENTS TO NATIONAL INSTRUMENT 31-103 REGISTRATION REQUIREMENTS, EXEMPTIONS AND ONGOING REGISTRANT OBLIGATIONS
On November 26, 2019, the Minister of Finance approved, pursuant to section 143.3 of the Securities Act (Ontario), amendments made by the Ontario Securities Commission (OSC or the Commission) to National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations (NI 31-103) (the Amendments).
The Amendments, as well as corresponding changes to commentaries and Companion Policy, were published on the OSC website at http://www.osc.gov.on.ca and in the OSC Bulletin in (2019) 42 OSCB Supp-1 on October 4, 2019. Except as noted below, the same material is being published today in Chapter 5 of this Bulletin.
The Amendments now also reflect the elimination of unnecessary changes by the Commission to subsections 9.3(1), 9.3(2), 9.4(1) and 9.4(2) of NI 31-103. The Amendments also now reflect revisions to subsections 9.4(1.2) and (1.3) of NI 31-103, which apply only in the province of Quebec and duplicate identical changes made by the Autorité des marchés financiers. Today's Chapter 5 incorporates these additional amendments and corresponding changes to the Companion Policy for NI 31-103.
The Amendments relating to conflicts of interest and the associated relationship disclosure information provisions come into force on December 31, 2020. The remaining Amendments come into force on December 31, 2021.