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ARTICLE · 29 APRIL 2015

Proposed Amendments To The Passport System

Miller Thomson
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On April 16, 2015, the Canadian Securities Administrators (the "CSA"), except for the Ontario Securities Commission (the "OSC"), published for a 60 day comment period proposed amendments (the "Proposed Amendments") to Multilateral Instrument 11-102 Passport System ("MI 11-102") and Companion Policy 11-102CP Passport System ("CP 11-102").

CanadaCorporate/Commercial Law
Rina Jaswal
Rina Jaswal
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Amendments to Multilateral Instrument 11-102 Passport System

On April 16, 2015, the Canadian Securities Administrators (the "CSA"), except for the Ontario Securities Commission (the "OSC"), published for a 60 day comment period proposed amendments (the "Proposed Amendments") to Multilateral Instrument 11-102 Passport System ("MI 11-102") and Companion Policy 11-102CP Passport System ("CP 11-102"). The amendments expand the passport system to include applications to cease to be a reporting issuer and the issuance and revocation (including a variation) of failure-to-file cease trade orders.

Currently, an application to cease to be a reporting issuer is filed with and reviewed by each provincial or territorial securities regulator by following the coordinated review system provided in National Policy 11-203 Process for Exemptive Relief Applications in Multiple Jurisdictions. The amendments to MI 11-102 will generally allow an issuer to be able to deal only with its

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