The Securities Commission granted an exemption under subsection 62(5) of the Securities Act, allowing for an extension of the prospectus lapse date for certain funds managed by Canada Life Investment Management Ltd. The extension is for 155 days, aligning the funds’ prospectus renewal with that of other funds under the same management, with the new lapse date being August 19, 2022.
This decision was made to facilitate cost reduction in renewal and printing, streamline disclosure, and simplify investor comparison of the funds. The extension will not compromise the accuracy of the current prospectus as no material changes have occurred since its last filing. Should any material changes arise, amendments will be made as required by law.
The decision was based on the Securities Act, R.S.O. 1990, c. S.5, as amended, and was influenced by the practicality and financial considerations of combining the prospectus documents of the funds in question. The Commission determined that this relief would not be prejudicial to the public interest.