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. Assuming all required ministerial and other approvals are obtained, the new Instrument and related documents will be effective December 30, 2005. The highlights of the changes are outlined in this article.

type Securities and Capital Markets Bulletin - November 2005 - Changes to Short Form Prospectus System: New National Instrument 44-101