46-201 – Escrow for Initial Public Offerings (National Policy)

46-201 – Escrow for Initial Public Offerings (National Policy)

• Escrow for Initial Public Offerings

  Effective Date: June 30, 2002.

  Describes the circumstances in which securities regulators will require an escrow of shares of a company on a initial public offering.  Describes uniform terms of an escrow agreement to be used throughout Canada.

  46_201_june_30_2002.pdf
• CSA Notice and Amendments to National Policy 46-201

  Effective Date: September 19, 2025. In Saskatchewan: September 19, 2025.

  The purpose of the Amendment Regulations is to codify previously granted relief related to changes at some recognized exchanges and to align securities legislation requirements with the August 2022 requirements with changes made to the Canada Business Corporations Act (CBCA) and the Canada Business Corporations Regulations, 2001.

  The Amendment Regulations address the following:

  • the creation of a senior tier at the Canadian Securities Exchange (CSE), which is intended to be a non-venture tier;
  • to ensure that requirements for non-venture issuers will also apply to those reporting issuers that are listed on the CSE Senior Tier;
  • the name change of the PLUS markets to AQSE Growth Market;
  • the name change of NEO Exchange Inc. to Cboe Canada Inc.; and,
  • amendments to the CBCA dealing with “majority voting”.
  46_201_np_amendments_and_csa_notice_june_19_2025.pdf
• Amendments to National Policy 46-201

  Effective Date: Subject to Ministerial approval – June 9, 2023.

  46_201_np_amendments_2023_03_23.pdf
• Amendments to National Policy 46-201

  Effective Date: November 17, 2015.  In Saskatchewan November 27, 2015.

  46_201_november_17_2015.pdf
• Form 46-201F1 Escrow Agreement

  Effective Date: June 30, 2002.

  46_201_f1_june_30_2002.pdf