Third

Session, 45th General Assembly

Elizabeth II, 2006

BILL 10

AN ACT TO AMEND THE

SECURITIES ACT

Received and Read the First Time ...................................................................................................

Second Reading .................................................................................................................................

Committee ............................................................................................................................................

Third Reading .....................................................................................................................................

Royal Assent ......................................................................................................................................

HONOURABLE

DIANNE WHALEN

Minister

of Government Services

Ordered

to be printed by the Honourable House of Assembly

EXPLANATORY NOTE

This Bill would amend the Securities Act to provide that where

there is a conflict between the Act, a regulation made under the Act or a provincial

rule and a harmonized rule made in conjunction with other provinces and

territories of Canada , the harmonized rule applies.

A BILL

AN ACT TO AMEND THE SECURITIES ACT

Analysis

S.144.1 Amdt.

Superintendent may make rules

Be it enacted by the Lieutenant-Governor and

House of Assembly in Legislative Session convened, as follows:

RSNL1990 cS-13

as amended

Section 144.1 of the Securities Act is amended by adding immediately after subsection

(7) the following:

(8) Where the superintendent makes a rule under

subsection (1) in fulfilment of an agreement with other provinces and

territories of Canada respecting the harmonization of rules among those

provinces and territories and there is a conflict between that rule and this

Act, a regulation made under this Act or another rule made under this Act, the

rule made in fulfilment of an agreement respecting the harmonization of rules applies.

Earl G. Tucker, Queen's Printer