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OSC Amends Rule on Insider Bids, Issuer Bids, Business Combinations and Related Party Transactions

June-29-2004

Area Corporate and Commercial, Corporate Finance and Securities

Summary


Amendments to Ontario Securities Commission Rule 61-501 (the “Rule”) and its companion policy came into force on June 29, 2004.  The substance of the Rule is to regulate issuers involved in insider bids, issuer bids, business combinations and related party transactions and to provide securityholders with the benefit of enhanced disclosure in these circumstances.  The amendments to the Rule are designed to make the Rule more clear, easier to use and to reduce the necessity for applications for exemptive relief.

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