SEDAR® SUBSCRIBER UPDATE
December 14, 1998
A SEDAR code update will be implemented on January 4, 1999. The update is 1.5 MB in size and will take approximately 10 minutes to download with a 14.4 modem. New functionality affects only the Filing Management module. Please note that this code update will bring the SEDAR client application up to version 5.001.001
Change in Annual SEDAR Filing Service Charge for Continuous Disclosure Payment Process and Monthly Invoicing
In response to feedback received by CDS INC., and to increase the operational efficiency of the collection of annual continuous disclosure fees, we are making changes to ensure that all filing fees payable to CDS are made in a convenient and timely manner. Towards that goal CDS INC., with the approval of the Canadian Securities Administrators, will no longer be mailing continuous disclosure renewal invoices to reporting issuers. Instead, beginning January 4, 1999 all annual continuous disclosure fees must be paid electronically via the SEDAR system at the time the reporting issuer's annual financial statement is filed.
For all annual financial statements filed on or after January 4, 1999, the annual continuous disclosure filing service charge will automatically be calculated for the calendar year coverage period based on the type of reporting issuer. The calculated amount along with appropriate taxes will be added to the total fees due for that project.
Furthermore, any filing service fees, including the annual continuous disclosure fees,
not paid at the time of the filing, will be included with your monthly subscriber service
invoice. These invoices are payable upon receipt. Balances unpaid over 30 days are subject
to interest charges at a rate of 2% per month (24% per annum).
SEDAR Filing Service Charge Implemented for SHAIF (BC LPS 3-27, AB RULE 45-51, VSE)
A filing service charge of $350 will be payable electronically when the SHAIF (BC LPS 3-27, AB Rule 45-501, VSE) is filed. The charge will be calculated when the Annual Information Form subtype is selected at the time of attaching files to the cover page; this subtype is used whenever a new Annual Information Form document is filed as a SHAIF.
Filing Type/Subtype and Document Type Changes
The description for the Alberta Securities Commission recipient has sometimes been
mistaken for the Alberta Stock Exchange on the Add a Recipient screen so the description
for the Alberta Securities Commission will change from «Alberta» to «Alberta (ASC)».
Screens affected (ie. Filing Status, Filing Status Details, Charge Summary, all Build
Inquiry, Add Recipient screen) now appear as «Alberta (ASC)» rather than «Alberta».
Amendments to Projects
CDS INC. (SEDAR) would like to remind Subscribers of the correct procedure for amending a project. As per section 6 of the SEDAR User's Guide release 5.0 - "Modifying a Submitted Project"- several options are available to subscribers. You may Add Documents, Add Recipient Agencies or Add Fees. Please refer to your User's Guide for complete details.
Any changes to a submitted project should be made as a subsequent submission to that project; a new project should not be created. CDS INC. fees are generated only with a project's initial submission.
If a new project is created instead of making a subsequent submission, the applicable CDS INC. fees will be calculated and generated again by the SEDAR system. You will in effect pay twice for the same project.
If this happens, CDS INC. requires a letter of explanation in order to cross-reference these two projects. A refund will be processed only when the letter is received and the two projects are properly cross-referenced.
Also find a copy of the CSA Notice issued on Friday, December 11, 1998, on the Ontario Securities Commission's site.
ANY QUESTIONS SHOULD BE ADDRESSED TO YOUR CDS INC. (SEDAR) CUSTOMER SERVICE REPRESENTATIVE, OR THE SEDAR HELPDESK AT 1 (8.5) 219-5381.
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