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On June 27, 1997, the CSA published for comment proposed National Instrument 81-104, "Commodity Pools", and proposed Companion Policy 81-104CP. The proposed National Instrument is intended to regulate publicly offered commodity pools and is designed to act in conjunction with the mutual fund regulatory regime established by National Instrument 81-102, "Mutual Funds" (NI 81-102). NI 81-102 came into force on February 1, 2000. The proposed National Instrument will exempt commodity pools from provisions in NI 81-102 where deemed appropriate and will impose additional requirements on commodity pools where deemed necessary.
Proposed changes to National Instrument 81-104 and its Companion Policy have been published. For further information, please refer to the June 2, 2000 OSC Bulletin and to related notices NIN 2000/19 (B.C) and 2000-16 (Manitoba), which have been reproduced in Volume 2 of the the Canadian Securities Law Reporter at, respectively, [Symbol Not Transcribed]222-405 and 271-032.
The Proposed Amendments also make a number of other changes to National Instrument 81-102, "Mutual Funds" ("NI 81-102"), Companion Policy 81-102CP ("81-102CP"), National Instrument 81-101, "Mutual Fund Prospectus Disclosure" ("NI 81-101"), Companion Policy 81-101CP ("81-101CP"), Form 81-101F1, "Contents of Simplified Prospectus", ("Form 81-101F1") and Form 81-101F2, "Contents of Annual Information Form" ("Form 81-101F2") (collectively, the "Rules"). The Proposed Amendments address some issues that have been brought to the attention of the CSA following the coming into force of NI 81-101 and NI 81-102 on February 1, 2000.