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45-102, Resale of Securities

Effective date:

November 30, 2001, ex­cept for sub­se­quent amend­ments

Published by CSA:

November 23, 2001

Overview 

The purpose and substance of National Instrument (NI) 45-102 is to harmonize certain provincial and territorial resale restrictions imposed on subsequent trades of securities initially acquired under an exemption from the prospectus requirement. NI 45-102 also takes a harmonized approach to distributions from a control block and to trades in securities of a non-reporting issuer over a foreign exchange or issuer.

Recent developments

Date

Development

Comments

November 23, 2001

Issue of Multilateral Instrument, Companion Policy and Forms: NI - 45-102 - Resale of Securities

On November 23, 2001, the CSA issued Multilateral Instrument, Companion Policy and Forms: NI - 45-102 - Resale of Securities. NI 45-102 comes into force on November 30, 2001.

March 26, 2004

Issue of revised Multilateral Instrument 45-102 Resale of Securities, Form 45-102F1 and Other Consequential Amendments

On March 26, 2004, the CSA issued revised Multilateral Instrument 45-102 Resale of Securities, Form 45-102F1 and Other Consequential Amendments. The revised legislation comes into force in Ontario on March 30, 2004.

July 17, 2009

 Repeal and replacement of NI - 45-102 - Resale of Securities and its related forms and companion policy

On July 17, 2009, the CSA repealed and replaced NI 45-102 and its related forms and companion policy. The revised NI 45-102 comes into force on September 28, 2009.

April 30, 2015 Amendments to NI 45-102 relating to The Accredited Investor and Minimum Amount Investment Prospectus Exemptions On April 30, 2015 NI 45-102 was amended with respect to The Accredited Investor and Minimum Amount Investment Prospectus Exemptions. The amendment comes into force on May 5, 2015.
April 30, 2015 Amendments to NI 45-102 relating to The Family, Friends and Business Associates Prospectus Exemptions

On April 30, 2015 NI 45-102 was amended with respect to The Family, Friends and Business Associates Prospectus Exemptions. The amendment comes into force on May 5, 2015.

March 29, 2018 Amendments to NI 45-102 Resale of Securities Relating to Reselling Securities of Foreign Issuers

On March 29, 2018 NI 45-102 was amended with respect to Reselling Securities of Foreign Issuers. Provided all necessary regulatory and ministerial approvals are obtained, these will come into force on June 12, 2018.

Note: The above summary of Recent Developments does not include consequential amendments made as the result of other projects.

For further details on the history of this Instrument, please refer to the OSC’s Web site.

Amend­ments un­der con­sid­er­a­tion

  • None

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.