The Securities Commission has granted Invesco Canada Ltd. an extension for filing the final prospectus of its three funds. Typically, under subsection 2.3(1.1) of National Instrument 41-101 General Prospectus Requirements (NI 41-101), a final prospectus must be filed within 90 days of the preliminary prospectus receipt. However, Invesco sought and received an additional 60 days, allowing them to file by February 19, 2024.
The extension was requested to align the filing of the final prospectus with the calendar year in which the units of the funds are to be listed on the Toronto Stock Exchange (TSX). This timing is crucial to avoid negative tax implications for the funds. The Securities Commission agreed to this exemption based on the application’s details and the rationale provided, with the condition that there will be no pre-marketing of the funds prior to their launch.
The decision is documented in a letter from Darren McKall, Manager of the Investment Funds and Structured Products Branch of the Ontario Securities Commission, and is supported by the applicable provisions of NI 41-101. The relief is contingent upon the final prospectus being filed by the specified extended deadline.