Materiality as it Relates to the Mining Industry
Date:
December 9 2002
Continuous disclosure of material changes is one of the most important developing areas of securities law. Disclosure, in some shape or form, has been a part of securities and corporate legislation for some time. At least as early as the U.K. Companies Act of 1844, disclosure was required in the form of a prospectus followed by the filing of annual reports. Similar requirements for annual information were also a part of corporate legislation in Canada. The U.S. Securities Exchange Act of 1934 (the “Exchange Act”) formed the basis for a modern continuous disclosure system with its requirements of annual and interim reports as well as proxies and their accompanying information circulars.
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