THE MANITOBA SECURITIES COMMISSION
MSC RULE 2021-29
(Section 149.1, The Securities Act)
Amendments to National Instrument 41-101 General Prospectus Requirements
1. National Instrument 41-101 General Prospectus Requirements is amended by this Instrument.
2. Section 3C.6 is replaced with the following:
Dealer as agent
3C.6(1) For the purpose of this Part, a dealer acts as agent of the purchaser if the dealer is acting solely as agent of the purchaser with respect to the purchase and sale in question and has not received and has no agreement to receive compensation from or on behalf of the vendor with respect to the purchase and sale.
3C.6(2) Subsection (1) does not apply in Ontario.
3C.6(3) Subsection (1) does not apply in Québec.
3C.6(4) Subsection (1) does not apply in British Columbia.
3. Section 3C.7 is replaced with the following:
Purchaser’s right of action for failure to deliver or send
3C.7(1) A purchaser has a right of action if an ETF facts document is not delivered or sent as required by subsection 3C.2(2), as the purchaser would otherwise have when a prospectus is not delivered or sent as required under securities legislation and, for that purpose, an ETF facts document is a prescribed document under the statutory right of action.
3C.7(2) In Alberta, instead of subsection (1), section 206 of the Securities Act (Alberta) applies.
3C.7(3) In Manitoba, instead of subsection (1), section 141.2 of the Securities Act (Manitoba) applies and the ETF facts document is a prescribed document for the purposes of section 141.2.
3C.7(4) In Nova Scotia, instead of subsection (1), section 141 of the Securities Act (Nova Scotia) applies.
3C.7(5) In Ontario, instead of subsection (1), section 133 of the Securities Act (Ontario) applies.
3C.7(6) In Québec, instead of subsection (1), section 214.1 of the Securities Act (Québec) applies.
3C.7(7) In British Columbia, for the purpose of subsection (1), “statutory right of action” means section 135 of the Securities Act (British Columbia).
3C.7(8) In Saskatchewan, instead of subsection (1), section 141 of The Securities Act, 1988 applies.
Effective Date
4.(1) This Instrument comes into force on January 5, 2022.
4.(2) In Saskatchewan, despite subsection (1), if this Instrument is filed with the Registrar of Regulations after January 5, 2022, this Instrument comes into force on the day on which it is filed with the Registrar of Regulations.
4.(3) This Instrument may be cited as MSC Rule 2021-29.