Amendments to OSC Rule 48-501 Trading During Distributions, Formal Bids and Share Exchange Transactions

AMENDMENTS TO
ONTARIO SECURITIES COMMISSION RULE 48-501 TRADING DURING
DISTRIBUTIONS, FORMAL BIDS AND SHARE EXCHANGE TRANSACTIONS

1. Ontario Securities Commission Rule 48-501 Trading During Distributions, Formal Bids and Share Exchange Transactions is amended by this Instrument.

2. Paragraph 3.2(c) is amended by replacing "clauses 93(3)(a) through (d) of the Act" with "sections 4.6 and 4.7 of National Instrument 62-104 Take-Over Bids and Issuer Bids".

3. This Instrument comes into force on the later of the following:

(a) May 9, 2016;

(b) the day on which sections 1, 2 and 3, subsections 4 (2) and (3), and sections 5, 7, 8 and 10 of Schedule 18 of the Budget Measures Act, 2015 (Ontario) are proclaimed into force.