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ARTICLE · 26 MAY 2015

TSX Begins Public Consultation On Changes To Customized Share Certificate Requirements

Stikeman Elliott LLP
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The TSX is seeking comments with respect to the possible elimination of the special requirements for security certificates that currently apply only to "Exempt Industrial Companies".

CanadaCorporate/Commercial Law
Stikeman Elliott LLP
Stikeman Elliott LLP
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The TSX is seeking comments with respect to the possible elimination of the special requirements for security certificates that currently apply only to "Exempt Industrial Companies". The high cost of printing these customized "Exempt Certificates" has been brought to the attention of the TSX by a number of bank note companies. The Securities Transfer Association of Canada has also indicated its support for the universal use of the more generic "Non-Exempt Certificates" that are currently issued by all listed issuers other than Exempt Industrial Companies. With this announcement, the TSX is appealing to interested parties, including industry participants and law enforcement agencies, for comments on technical issues that might arise were the Non-Exempt Certificate Requirements to be applied to all listed issuers.

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