Province of Alberta SECURITIES ACT SECURITIES REGULATION Alberta Regulation 115/1995 With amendments up to and including Alberta Regulation 155/2016 Office Consolidation Published by Alberta Queen s Printer Alberta Queen s Printer 7 th Floor, Park Plaza 10611-98 Avenue Edmonton, AB T5K 2P7 Phone: 780-427-4952 Fax: 780-452-0668 E-mail: qp@gov.ab.ca Shop on-line at www.qp.alberta.ca
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(Consolidated up to 155/2016) ALBERTA REGULATION 115/95 Securities Act SECURITIES REGULATION Table of Contents 1 Definition 2 Prior publication of proposed rule 3 Exemption 4 Sunset clause 5 Amendment or variation 6 Time period for making representations 10 Return of material 12 Coming into force 13 Review Definition 1(1) In this Regulation, Act means the Securities Act. (2) Where words and expressions that are defined in the Act are used in this Regulation, those words and expressions have the same meaning as those in the Act. Prior publication of proposed rule 2 Subject to section 3, before making a rule the Commission shall (a) publish a notice of the proposed rule and (i) on a publicly accessible website maintained by the Commission, or (ii) in such other manner as the Commission considers to be appropriate, (b) within the period of time allowed under section 6, give an opportunity for interested persons and companies to make written representations to the Commission with respect to the proposed rule. AR 115/95 s2;240/2009
Section 3 SECURITIES REGULATION AR 115/95 Exemption 3 The Commission does not need to comply with the requirements of section 2, (a) where (i) all of the persons and companies who would be subject to the proposed rule are named in the proposed rule, (ii) the proposed rule is sent to each of those persons and companies, and to any other person or company that the Commission considers might reasonably be affected by the proposed rule, and (iii) within the period of time allowed under section 6, an opportunity is given to each of those persons and companies to make written representations to the Commission; (b) where (i) the proposed rule grants an exemption or removes a restriction, and (ii) the Commission considers that the proposed rule is not likely to have a substantial effect on the interests of persons or companies other than those who benefit under the proposed rule; (c) where the proposed rule is an amendment or variation that the Commission considers does not materially change an existing rule; (d) where the Commission considers that it is in the public interest to enact the proposed rule without delay because (i) there is an urgent need for the proposed rule, and (ii) without the proposed rule being made, there is a substantial risk of material harm to investors or to the integrity of the capital markets. Sunset clause 4(1) A rule made under section 3(d) ceases to have effect on the expiration of the 275th day from the day that the rule came into force. (2) Notwithstanding subsection (1), if prior to the expiration of the 275-day period referred to in subsection (1) the Commission 2
Section 5 SECURITIES REGULATION AR 115/95 publishes a notice of the rule under section 2 in the same manner as if the rule were a proposed rule, that rule shall remain in force. Amendment or variation 5 If, after a notice of a proposed rule has been published under section 2, the Commission proposes to make an amendment to the proposed rule that the Commission considers to be a material change to the proposed rule, the Commission shall (a) publish a notice of the proposed rule as amended and (i) on a publicly accessible website maintained by the Commission, or (ii) in such other manner as the Commission considers appropriate, (b) within the period of time allowed under section 6, give an opportunity to interested persons and companies to make written representations to the Commission with respect to the proposed rule as amended. AR 115/95 s5;240/2009 Time period for making representations 6(1) The Commission may set the period of time within which an interested person or company may make written representations to the Commission in respect of a proposed rule. (2) For the purposes of making written representations to the Commission under section 2 or 5 with respect to a proposed rule, (a) the period of time set by the Commission under subsection (1) must be at least 30 days from the day that the notice of the proposed rule is published, or (b) if a period of time for making written representations to the Commission is not set under subsection (1), the period of time within which written representations may be made to the Commission is 30 days from the day that the notice of the proposed rule is published. 7 Repealed AR 240/2009 s4. 8, 9 Repealed AR 155/2016 s2. 3
Section 10 SECURITIES REGULATION AR 115/95 Return of material 10(1) Material that is filed but is not completed in accordance with the Act or the Alberta Securities Commission Rules may be returned. (2) If any material is returned under subsection (1), the fee paid on the filing of the material shall not be refunded without the consent of the Executive Director. AR 115/95 s10;155/2016 11 Repealed AR 240/2009 s5. Coming into force 12 This Regulation comes into force immediately following the coming into force of section 74 of the Securities Amendment Act, 1995. Review 13 In compliance with the Government s regulatory review initiative, this Regulation must be reviewed on or before June 30, 2019 and not less frequently than every 10 years after that date. AR 204/2003 s3;240/2009 Schedule Repealed AR 155/2016 s4. 4
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