The Alberta Securities Amendment Act 2003, also know as Bill 14, is being proclaimed in three stages.

The Alberta Securities Commission says the proclamation of continuous disclosure related amendments will be deferred until early 2004 when the new continuous disclosure rules are expected to come into effect. Those amendments related to capital raising exemptions will be proclaimed June 16. All remaining amendments will be proclaimed into effect on June 10.

The ASC notes that the key proposed amendments complement the new capital raising exemptions, facilitate the operation of the national registration database, and expand the information-sharing provision to include third party service providers.

The amendments also expressly authorize the collection, use and disclosure of personal information, repeal existing resale restrictions in favour of the new harmonized resale rules, and anticipate the new enhanced uniform continuous disclosure regime.

They also give the commission rule-making authority to set minimum corporate governance requirements.