The Alberta Securities Commission says it expects most of the Securities Amendment Act, 2005 to be proclaimed on June 8.

The ASC says it anticipates that all of the provisions of the Act, with the exception of sections 9, 14 and 18 through 20, will be proclaimed into force. The Act (known as Bill 19) was passed during the 2005 spring legislative session, received royal assent on May 10 and will be proclaimed in force in two stages.

The first sections will be proclaimed in force as of June 1. Proclamation of the other sections, which deal primarily with the repeal of registration and prospectus exemptions, will be deferred to the early fall to coincide with the implementation of the new national exemptions rule.

The ASC says issuers planning to conduct exempt offerings by way of private placements later this summer or in the fall should take the new national exemptions rule, and the new harmonized exemptions it contains, into account when planning their transactions.