Staff of the Canadian Securities Administrators (the CSA) issued CSA Staff Notice 31-310 on April 3, 2009 indicating that they now expect to submit National Instrument 31-103 Registration Requirements (NI 31-103) to the CSA members for approval in June 2009, with the intent of publishing NI 31-103 in mid- July 2009. If NI 31-103 is then approved by each member of the CSA, NI 31-103 will come into force at the end of September 2009.

The CSA also indicated that more detailed implementation guidance would be published at a later date.