Vote on May 29th, 2018
Bill 13 An Act to Amend the Securities Act
Mr. Speaker, I move, seconded by the honourable Member for Hay River South, that Bill 13, An Act to Amend the Securities Act, be read for the second time. This bill amends the Securities Act to:
• allow for automatic reciprocation in the Northwest Territories of orders of extra-territorial securities regulatory authorities designating an issuer to be or cease to be a reporting issuer;
• allow for automatic reciprocation in the Northwest Territories of a variety of other prescribed orders issued by, or agreements entered into with, extra-territorial securities regulatory authorities without the necessity of drafting and issuing a further order in the Northwest Territories;
• alter the requirements for disclosure documents to be provided to purchasers of exchange-traded funds to allow issuers to provide more accessible format to purchasers in lieu of a full prospectus;
• temporarily suspend the limitation period for plaintiffs in secondary market civil liability actions where the application to the court for leave to file an action has been made; and
• correct inconsistencies and errors identified in the statute.
Thank you, Mr. Speaker.
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