CDS Rule Amendment Notice - Technical Amendments to CDS Procedures Relating to Constrained Entitlements
CDS CLEARING AND DEPOSITORY SERVICES INC. (CDS®)
TECHNICAL AMENDMENTS TO CDS PROCEDURES
CONSTRAINED ENTITLEMENTS
NOTICE OF EFFECTIVE DATE
A. DESCRIPTION OF THE RULE AMENDMENT
Background
On January 23, 2007, CDS submitted a Notice of Material Amendment to CDS Rules relating to Constrained Entitlements. Pending regulatory approval, the effective date of these material amendments will be April 9, 2007. The proposed technical amendments are made as a consequence of the aforementioned amendment to CDS Participant Rules.
The Procedures marked for the amendments may be accessed at the CDS website at:
In English: http://www.cds.ca/cdsclearinghome.nsf/Pages/-EN-070305blacklined?Open
En français: http://www.cds.ca/cdsclearinghome.nsf/Pages/-FR-061117modifications?Open
Description of Proposed Amendments
In the CDSX Procedure and User Guide, Chapter 8 -- Entitlement Activities, the proposed amendments add a note reminding CDSX Participant users that they are responsible for any action pertaining to rights that they have received on behalf of beneficial holders who are ineligible to participate in the Rights Offering ("Ineligible Unitholder").
B. REASONS FOR TECHNICAL CLASSIFICATION
The amendments proposed pursuant to this Notice are considered technical amendments as they are consequential amendments intended to implement a material rule that has been published for comment and contain only material aspects already contained in the material rule and disclosed in the notice accompanying that material rule.
C. EFFECTIVE DATE OF THE RULE
Pursuant to Appendix A ("Rule Protocol Regarding The Review And Approval Of CDS Rules By The OSC") of the OSC Recognition and Designation Order, as amended 1 November, 2006, and Annexe A ("Protocole d'examen et d'approbation des Règles de Services de Dépôt et de Compensation CDS Inc. par l'Autorité des marchés financiers") of AMF Decision 2006-PDG-0180, made effective on 1 November, 2006, CDS has determined that these amendments will be effective on April 23, 2007.
D. QUESTIONS
Questions regarding this notice may be directed to:
Tony Hoffmann
Legal Counsel
The Canadian Depository for Securities Limited
85 Richmond Street West
Toronto, Ontario M5H 2C9
Telephone: 416-365-3768
Fax: 416-365-1984
e-mail: [email protected]
JAMIE ANDERSON
Managing Director, Legal