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ARTICLE · 01 DECEMBER 2005

Changes to Short Form Prospectus System: New National Instrument 44-101

Borden Ladner Gervais LLP
Borden Ladner Gervais LLP
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On October 21, 2005, the Canadian Securities Administrators decided to modify the qualification, disclosure and other requirements of the short form prospectus system and published new National Instrument 44-101 Short Form Prospectus Distributions, along with a new Companion Policy and a new short form prospectus form

CanadaFinance and Banking

On October 21, 2005, the Canadian Securities Administrators decided to modify the qualification, disclosure and other requirements of the short form prospectus system and published new National Instrument 44-101 Short Form Prospectus Distributions, along with a new Companion Policy and a new short form prospectus form.1 Assuming all required ministerial and other approvals are obtained, the new Instrument and related documents will be effective December 30, 2005.

Currently, the basic qualifications an issuer is required to meet in order to use a short form prospectus include having a 12-month reporting history prior to the filing of the initial annual information form (.AIF.) and an aggregate market value of $75,000,000 for the issuer.s equity securities.

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