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News from 2005


June 10, 2005

Proposed Bylaws of 2005 passed at Institute's Annual General Meeting

The proposed Bylaw revisions for 2005 were passed at the Institute's Annual General Meeting today. 

May 27, 2005
Proposed Bylaw Revisions for 2005

The proposed Bylaw revisions for 2005 will be voted on at the Institute's Annual General Meeting on June 10, 2005.

FIRST BYLAW OF 2005

• Explanatory Note:
  Rule 402 is amended to provide for retired (exempt) members to receive retirement income through their (exempt) professional corporations without being subject to the rules that apply to public accounting practices. In addition, the rules have been re-numbered and re-ordered for consistency with the nationally harmonized rules.
  (End of First Bylaw of 2005)

• Click here for a clean copy of the proposed final wording of the first Bylaw of 2005.

• Click here for a marked-up copy of the first Bylaw of 2005 that shows the amendments to Rule 402.

SECOND BYLAW OF 2005

• Explanatory Note:
  Bylaw 103 is amended to add new definitions for "exempt member" and "exempt professional corporation" as discussed in the firs bylaw of 2005.
  (End of Second Bylaw of 2005)

• Click here for a clean copy of the proposed final wording of the second Bylaw of 2005.

• Click here for a marked-up copy of the first Bylaw of 2005 that shows the amendments to Bylaw 103.

THIRD BYLAW OF 2005

• Explanatory Note:
  Bylaw section 400 ahs been amended to remove all references to the student education program that existed prior to the introduction of the CA School of Business. In addition, references to "uniform final examination" have been updated to "uniform evaluation".
  (End of Third Bylaw of 2005)

• Click here for a clean copy of the proposed final wording of the third Bylaw of 2005.

• Click here for a marked-up copy of the first Bylaw of 2005 that shows the amendments to Bylaw section 400.

FOURTH BYLAW OF 2005

• Explanatory Note:
  Rule 204 has been amended to replace terminology related to "listed entities" with a reference to "reporting issuers". When the new independence standards were approved in 2003, the Public Interest and Integrity Committee (PIIC) committed to complete a review as to whether the independence standards that applied to listed entities should also apply to other public interest entities. After review and consultation with stakeholders, including an exposure draft process, the PIIC recommended that the rules be amended to apply the higher standard to entities such as mutual funds and similar entities. As a result, the amendments replace the concept of a "listed entity" with that of a "reporting issuer" which is essentially and entity that is deemed to be a reporting issuer under applicable Canadian and provincial securities legislation, subject to the previously established $10 million market capitalization/total asset threshold. The rule has been amended to define "reporting issuer" together with related definitions and references to "listed entity" have been amended.
  (End of Fourth Bylaw of 2005)

• Click here for a clean copy of the proposed final wording of the fourth Bylaw of 2005.

• Click here for a marked-up copy of the fourth Bylaw of 2005 that shows the amendments to Rule 204.

• Click here for a clean copy of the proposed final wording of the Council Interpretations to Rule 204.

• Click here for a marked-up copy of the proposed final wording of the Council Interpretations to Rule 204.

(End of Proposed Bylaw Revisions for 2005)

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