Securities Law & Instruments



ONTARIO SECURITIES COMMISSION STAFF NOTICE 33-701

CALCULATION OF REGULATORY CAPITAL(1)

Registrants required to maintain specified levels of working capital are reminded that they arenot permitted under generally accepted accounting principles to include deposits withcontingency funds as part of working capital because amounts deposited with contingencyfunds are not available in the normal course of business to satisfy requirements for operatingfunds.

June 27, 1997

1. This Notice replaces a staff notice published on September 9, 1988.