Multilateral Instrument 25-102Designated Benchmarks and Benchmark Administrators B.C. Reg. 216/2021

TRANSITIONAL PROVISIONS

Securities Act

Multilateral Instrument 25-102
Designated Benchmarks and Benchmark Administrators
B.C. Reg. 216/2021

enacted by B.C. Reg. 74/2026

effective May 5, 2026

Transition

Applicable period of first report — designated interest rate benchmark without a benchmark contributor

16 Despite section 36 (2) (a) (ii) of Multilateral Instrument 25-102 Designated Benchmarks and Benchmark Administrators, as enacted by this Instrument, if a designated interest rate benchmark without a benchmark contributor was designated before May 5, 2026, the applicable period of the first report referred to in section 36 (2) (a) (ii), as enacted by this Instrument, is the period commencing on May 1, 2025 and ending on April 30, 2026.

First report — designated interest rate benchmark without a benchmark contributor

17 Despite section 36 (3) of Multilateral Instrument 25-102 Designated Benchmarks and Benchmark Administrators, as enacted by this Instrument, if a designated interest rate benchmark without a benchmark contributor was designated before May 5, 2026, the engagement referred to in section 36 (1), as enacted by this Instrument, must require the public accountant to provide the first report referred to in section 36 (3), as enacted by this Instrument, to the designated benchmark administrator not later than 90 days after May 5, 2026.

Publication and delivery of first report — designated interest rate benchmark without a benchmark contributor

18 Despite section 36 (4) of Multilateral Instrument 25-102 Designated Benchmarks and Benchmark Administrators, as enacted by this Instrument, if a designated interest rate benchmark without a benchmark contributor was designated before May 5, 2026, a designated benchmark administrator must publish and deliver the first report referred to in section 36 (4), as enacted by this Instrument, to the regulator or the securities regulatory authority not later than 100 days after May 5, 2026.