“Notice and Access” Comes to Canada

Amendments to Canada’s securities laws come into effect in Februrary introducing a process referred to as “Notice and Access” for public company shareholder meetings taking place March 1, 2013 or later.  The “Notice and Access” process provides issuers (other than investment funds) with the ability to deliver a prescribed form of notice to shareholders directing them to a non-SEDAR web site where they may access the balance of the meeting materials.  This process should reduce both printing and mailing costs for issuers because they can avoid printing and mailing the meeting circular and financial statements to all shareholders.  The Notice and Access is available for all types of shareholder meetings. For each issuer, it will be important to review its governing corporate statute (e.g. Canada Business Corporations Act, Ontario Business Corporations Act, etc) to determine if the Notice and Access process will meet all shareholder meeting notice requirements under such statute.   For more information about Notice and Access please feel free to contact Shane McLean at smclean@lwlaw.com or (613) 599 9600 ext. 262