Assemblée Législative de la Nouvelle-Écosse

Les travaux de la Chambre ont repris le
21 septembre 2017

Projet de loi no 79

Securities Act (amended)

An Act to Amend Chapter 418 of the Revised Statutes, 1989, the Securities Act

Déposé par :
L'honorable Graham Steele
Minister of Finance

Première lecture
Débats en deuxième lecture
Adoption en deuxième lecture
Comité des modifications des lois
    Date(s) de réunion 16 novembre 2010
    Rapport à la Chambre
Comité plénier
Débats de la troisième lecture
Débats de la troisième lecture
Sanction royale
Prise d'effet 11 janvier 2011; except s.15(2) in force April 20, 2012
2010 Statutes, Chapter 73

Note explicative (en anglais seulement)

Clause 1 amends the definitions of “contractual plan”, “forward-looking information”, “mutual fund” and “security”, adds definitions of “credit rating”, “credit rating organization”, “designated rating” and “designated rating organization”, replaces the previous definition of “Director” with one that includes the Executive Director of the Commission and repeals the definition of “government incentive security”.

Clauses 2 and 3 change “Director” to “Executive Director” to accord with the change in title made by Clause 1.

Clause 4 replaces “prothonotary” with “registrar” in subsection 26(3).

Clause 5 adds a subsection which clarifies that a self-regulatory organization has authority over former members and former representatives.

Clause 6 clarifies the rules credit rating organizations must comply with and specifies the extent of the Commission’s authority over credit rating organizations.

Clause 7 eliminates notice by a registered dealer of changes in certain information.

Clause 8 changes “salesman” to “employee or agent” respecting prohibition on calls to residences.

Clause 9 adds interim financial reports and changes financial statements to annual financial statements for the documents that must accompany a prospectus.

Clause 10 repeals a provision respecting the contents of a material statement of facts.

Clause 11 repeals a provision respecting restrictions on portfolio managers.

Clause 12 streamlines the Commission’s powers to make an enforcement order against a registrant or investment fund manager.

Clause 13 repeals a provision respecting the rescission of contracts.

Clause 14 changes sales charges to sales expense.

Clause 15 amends the definitions of “core document”, “expert” and “management’s discussion and analysis” for Sections 146A to 146N of the Act.

Clause 16 changes actual results to actual financial performance.

Clause 17 amends the regulation-making authority of the Governor in Council and rule-making authority of the Commission to change terminology in accord with other changes made by this Bill and to add authority respecting credit rating agencies.

Clause 18 provides that this Bill comes into force on proclamation.