As discussed in our November 17, 2017 Business Law Blog post, changes to the Toronto Stock Exchange (the "TSX") Company Manual adopted in 2017 require certain key governance documents to be posted on a publicly accessible website. The deadline for compliance with this new requirement is fast approaching: by April 1, 2018, all TSX-listed issuers (subject to certain exemptions identified below) must maintain a website on which the public can access the following documents:
- constating documents;
- majority voting policy;
- advance notice policy;
- position descriptions for the chairman of the board and the lead director;
- board mandate; and
- board committee charters.
The webpage(s) containing these documents should be clearly identifiable and easily accessible from the TSX-listed issuer's home page or investor relations page.
A TSX-listed issuer that qualifies as a Non-Corporate Issuer, an Eligible Interlisted Issuer or an Eligible International Interlisted Issuer (each as defined in the TSX Company Manual) is exempt from these new requirements.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.