Log in or register
Share on LinkedInShare on LinkedIn

ARTICLE · 30 JANUARY 2008

Canadian Regulators Adopt Harmonized Rules For Takeover Bids, Issuer Bids And Special Transactions Affecting Minority Shareholders

Torys
Torys
Contributor
Torys

Torys

Torys LLP is an international business law firm that works with clients who expect the best advice...

View firm profile
Explore more from Torys

Canadian securities regulators have adopted new rules and a national policy on takeover bids and issuer bids that harmonize the bid requirements across the country.

CanadaCorporate/Commercial Law
Leslie McCallum
Leslie McCallum
Author LinkedIn connections

Canadian securities regulators have adopted new rules and a national policy on takeover bids and issuer bids that harmonize the bid requirements across the country. The changes are expected to be effective on February 1, 2008. Bids commenced before that date will be governed by the old rules. The OSC and Quebec's regulator have also adopted harmonized requirements for enhanced disclosure, independent valuations and majority-of-minority approval for special transactions affecting minority shareholders.

Changes to the Existing Bid Regime

Ontario's new takeover bid and issuer bid regime will consist of amended Part XX of the Securities Act, Takeover Bids and Issuer Bids, as well as new OSC Rule 62-504 and related rules and forms. Equivalent changes to the bid regimes of the other jurisdictions have been adopted in Multilateral Instrument 62-104.1 In addition, new National Policy 62-203 outlines how

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

Related Comparative Guides

See more popular content from

Article

The Compliance Judges’ Scorecard: OSC RIE Division 2026 Annual Report

Cybersecurity, artificial intelligence, fee practices and the quality of regulatory filings feature prominently in the Ontario Securities Commission’s (OSC) latest account of its registration and examination work. OSC Staff Notice 33-762, released on October 7, 2026, reports on the Registration, Inspections and Examinations Division’s (RIE) activities for the fiscal year ended March 31, 2026 (Staff Notice).
CanadaCorporate/Commercial Law
Borden Ladner Gervais LLP
Borden Ladner Gervais LLP
Article

October 2026 Amendments To Chambers Practice In British Columbia: What To Know

The amendments were developed with the input of stakeholders, including members of the judiciary, the legal profession, government ministries and the public, in response to ongoing concerns regarding chambers delays, scheduling inefficiencies, inaccurate time estimates, and matters that are set down for hearing but ultimately do not proceed as scheduled
CanadaCorporate/Commercial Law
Singleton Urquhart Reynolds Vogel LLP
Singleton Urquhart Reynolds Vogel LLP
Article

AUM Law Regulatory Update Newsletter: Brief News (October 2026)

The Canadian Investment Regulatory Organization (CIRO) is developing a series of three targeted compliance bulletins to help Dealer Members and Approved Persons apply the Client Focused Reforms (CFRs) in practice. The bulletins build on Joint CSA/CIRO Staff Notice 31-368 Client Focused Reforms: Review of Registrants’ Know Your Client, Know Your Product and Suitability Determination Practices and Additional Guidance, and respond to recurring deficiencies and areas of uncertainty identified through compliance examinations.
CanadaCorporate/Commercial Law
Borden Ladner Gervais LLP
Borden Ladner Gervais LLP
Article

Government Of Canada Makes Significant Changes To Energy Project Approvals Process

On September 3, the Government of Canada published amendments removing seven types of energy projects from the Physical Activities Regulations (the Project List) under the Impact Assessment Act (IAA). As a result, these types of projects will no longer be subject to the IAA but will continue to be regulated by the Canada Energy Regulator Act (CER Act) or applicable provincial environmental assessment regimes.
CanadaEnergy and Natural Resources
Torys
Torys
Article

Ontario Invites Expressions Of Interest For Licences Under The Geologic Carbon Storage Act

Ontario has launched its first call for expressions of interest in carbon capture and storage licences under the new Geologic Carbon Storage Act, targeting Crown-owned pore space beneath lakebeds surrounding the Ontario Peninsula. The detailed submission requirements reveal expectations that proponents have advanced well beyond initial planning stages, with the process serving as a critical test of Ontario's emerging CCS framework and its attractiveness to industry.
CanadaEnvironment
Torys
Torys
Article

New Flight Path: Canada Seeks Private Investment In Airports Through Long-term Concession Arrangements

Canada has announced plans to attract private investment through long-term concessions to operate its four largest airports: Toronto-Pearson, Vancouver International, Montréal-Trudeau, and Calgary International. The federal government will retain ownership of the underlying airport land and assets while seeking tens of billions of dollars in private capital to be reinvested in regional airports and local transport infrastructure. Key details regarding the scope of private operational involvement, award
CanadaGovernment, Public Sector
Torys
Torys
Article

Landmark SCC Ruling Provides Clarity On Privative Clauses

The Supreme Court of Canada has delivered a landmark ruling declaring section 66 of the Conflict of Interest Act unconstitutional, fundamentally reshaping the boundaries between legislative authority and judicial oversight of administrative decisions. This unanimous decision addresses longstanding questions about the validity of privative clauses that restrict courts' ability to review findings by Parliament's ethics commissioner.
CanadaLitigation, Mediation & Arbitration
Torys
Torys