The Alberta Securities Commission is proposing an interim rule to preserve investment funds’ continuous disclosure and proxy solicitation obligations until a new national rule covering these issues takes effect.

The adoption of the interim ASC rule will mean that continuous disclosure and proxy solicitation requirements for investment funds will remain unchanged in Alberta until proposed National Instrument 81-106 Investment Fund Continuous Disclosure comes into force.

The regulator says that the interim rule is necessary due to delays in finalizing the national rule, because of its republication and significant number of comments.

It has requested that the Alberta government proclaim certain section of the Securities Amendment Act, 2003 effective March 30, 2005. The ASC says it will implement the interim rule effective March 29, 2005.

Comments on the interim rule are due by December 13.

http://www.albertasecurities.com/dms/1144/10925/11716__1401726_v1_-_ASC_NOTICE_AND_PROPOSED_LOCAL_RULE_81-501.pdf