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Telecom Regulatory Policy CRTC 2009-428-1

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Route reference: Telecom Regulatory Policy 2009-428, Telecom Notice of Consultation 2009-303

Ottawa, 28 May 2010

Canadian ownership and control review policy – Amendment

File number: 8657-C12-200907751

1.  In Canadian ownership and control review policy, Telecom Regulatory Policy CRTC 2009-428, 20 July 2009 (the Policy), the Commission established a four-type framework for ownership and control reviews. The Commission is hereby amending its information requirements with respect to Type 2 ownership and control reviews within that framework.

2.  The Policy indicates that the Commission will provide public notice that a review is being undertaken where it proceeds with a Type 2, 3, or 4 review. In the context of a Type 3 or 4 review, following the release of the public notice, which is in the form of a Notice of Consultation and includes a determination on the type of review, the public has access to an abridged public record and is able to participate in the proceeding. The public record of a Type 2 review, however, is released concurrently with the publication of the decision.

3.  Consequently, the Commission considers that, for Type 2 reviews, information that provides a basic overview of the ownership and governance structure to be reviewed should be published concurrently with the public determination on the type of review. The Commission considers that publishing this information will increase the transparency of the ownership and control review process.

4.  Therefore, the Commission directs all entities undergoing a Type 2 ownership and control review to file for the public record, within 10 days of receiving notification that a Type 2 review will be undertaken, the completed templates set out in the Appendix to this decision.

Secretary General

Appendix

Name of company - Ownership Structure. Voting shares and Equity. It includes a sample of a possible ownership structure of an entity undergoing a type 2 telecom ownership and control review, and the type of information the operating entity must provide. As an example: an operating company being 100% owned by a holding company in turn owned by one Canadian entity and one non-Canadian entity, each being owned by several shareholders/investors, and the percentage of total voting shares and total voting equity held by each.

Shareholding / Capitalization
  Percentage of Voting Shares Percentage of Equity Percentage of Debt Percentage of Total Capitalization
Canadian Investor #1  
  		     
Canadian Investor #2  
  		     
Non-Canadian Investor #1  
  		     
Non-Canadian Investor #2  
  		     
Total 100 100 100 100


Board of Directors - Holding & Opco. It includes a sample chart of the board of directors information an entity undergoing a type 2 telecom review must provide, such as: the operating company and its board of directors, the holding company and its board of directors, and identification of who each director represents. For example, identification of the directors in the holding company representing the Canadian shareholders/investors, those representing the non-Canadian shareholders/investors, and those that are independent directors.
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