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ARTICLE · 11 APRIL 2013

Proposal For Enhanced Early Warning System

On March 14, 2013, the Canadian Securities Administration (CSA) issued for comment new proposed rules enhancing the reporting requirements relating to the early warning reporting system.

CanadaCorporate/Commercial Law

On March 14, 2013, the Canadian Securities Administration (CSA) issued for comment new proposed rules enhancing the reporting requirements relating to the early warning reporting system.

You will find below a link to the CSA proposal, as well as the various questions it raises for comments, and the proposed amendments.

http://www.osc.gov.on.ca/en/SecuritiesLaw_mi_20130313_62-104_take-over-bids.htm

Nature and Purpose of Changes

The proposal would amend the early warning reporting requirements of Multilateral Instrument 62-104 Take-Over Bids and Issuer Bids (MI 62-104), National Policy 62-203 Take Over Bids and Issuer Bids (NP 62-203) and National Instrument 62-103 Early Warning System and Related Take-Over Bid and Insider Reporting Issues (NI 62-103). These amendments, together with expected changes to the Ontario Securities Act and OSC Rule 62‑504 Take-Over Bids and Issuer Bids (OSC Rule 62-504),  will apply in all Canadian provinces and territories.

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