Since we last reported, on this topic, New Brunswick, Nova Scotia, Quebec and Saskatchewan have joined Ontario, Alberta and Manitoba in bringing into force legislation providing for secondary market civil liability. In each case the legislation is modelled on the Ontario legislation. After some debate as to the model to be adopted, British Columbia passed legislation on November 22, 2007 based on the Ontario approach, but no proclamation date has been fixed or proposed. Newfoundland & Labrador, Prince Edward Island and Yukon have also passed similar legislation. In the case of Prince Edward Island and Yukon, the provisions are included in a new uniform securities act, a version of which is also proposed to be introduced in Northwest Territories and Nunavut.
The following is a summary of the status of implementation of the civil liability regime throughout Canada:
Alberta In force December 31, 2006
British Columbia Not yet proclaimed in force
Manitoba In force January 1, 2007
New Brunswick In force May 30, 2007
Newfoundland & Labrador To be proclaimed in force on May 1, 2008
Northwest Territories —
Nova Scotia In force November 15, 2007
Nunavut —
Ontario In force December 31, 2005
Prince Edward Island To be proclaimed in force on March 17, 2008
Québec In force November 9, 2007
Saskatchewan In force February 15, 2008
Yukon Not yet proclaimed in force
