Securities Legislation

Under the securities act (or equivalent) in each province and territory, there are regulations and rules and instruments promulgated thereunder. Each securities commission (or equivalent) also sets out policies and make orders that will be applicable in the local jurisdiction.

To the extent that an instrument or policy has emanated from the cooperation of the securities regulatory authorities under the CSA, the instruments are referred to as national instruments (if applicable in all thirteen jurisdictions) or multilateral instruments (if applicable in more than one jurisdiction but less than all jurisdictions) and, in the case of policies, the policies are referred to as national policies (if applicable in all thirteen jurisdictions) or multilateral policies (if applicable in more than one jurisdiction but less than all jurisdictions).

(See Prospectus Requirement)

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