Notice of Commission Approval - Housekeeping Amendment to IDA By-law No. 10.7 National Advisory Committee

INVESTMENT DEALERS ASSOCIATION OF CANADA --
HOUSEKEEPING AMENDMENT TO BY-LAW 10.7

I OVERVIEW

A -- Current Rules

By-law 10.7 outlines the composition of the National Advisory Committee. Currently the composition consists of Chairs of District Councils, Regional Directors and the Senior Vice-President of Industry Relations and Representation. Voting members of the Committee include the former or their representatives as outlined in By-law 10.10 excluding Regional Directors.

B -- The Issue

Amendment of By-law 10.7 to include the immediate Past Chair of the National Advisory Committee as a voting member.

C -- Objective

This change will add additional continuity to the National Advisory Committee by extending the participation of the Chair for an additional year after expiry of their term.

D -- Effect of Proposed Rules

The Association has determined that the entry into force of the proposed amendment will have no substantive impact on the rule.

II -- DETAILED ANALYSIS

The National Advisory Committee approved the proposed change. District Councils were also notified.

III -- COMMENTARY

A -- Filing in Other Jurisdictions

This proposed amendment will be filed for approval in Alberta, British Columbia, Saskatchewan and Ontario, and will be filed for information in Nova Scotia.

IV -- SOURCES

IDA By-law 10.
Questions may be referred to:
Name: Kenneth A. Nason
Title: Association Secretary
Investment Dealers Association of Canada
(416) 865-3046
[email protected]

V -- OSC REQUIREMENT TO PUBLISH FOR COMMENT

The Association has determined that the entry into force of the proposed amendment is housekeeping in nature. As a result, a determination has been made that this proposed rule amendment need not be published for comment.

AMENDMENT TO THE COMPOSITION OF THE

NATIONAL ADVISORY COMMITTEE

THE BOARD OF DIRECTORS of the Investment Dealers Association of Canada hereby makes the following amendments to the By-laws, Regulations, Forms and Policies of the Association:

1. By-law 10.7 is amended by adding the following words as highlighted and underlined below:

10.7. There shall be a National Advisory Committee of the Association composed of the Chairs of the District Councils, the immediate Past Chair of the National Advisory Committee, the Regional Directors and the Senior Vice-President, Industry Relations & Representation. Only the District Council Chairs, or their representative, as set out in By-law 10.10, below, the immediate Past Chair of the National Advisory Committee, and the Senior Vice-President, Industry Relations & Representation or his or her representative, as set out in By-law 10.10, below, shall be voting members of the National Advisory Committee. The National Advisory Committee shall act as a forum for consultation and co-operation among the District Councils and consideration of District Council initiatives.

PASSED AND ENACTED BY THE Board of Directors this 15th day of April 2003, to be effective on a date to be determined by Association staff.