Pre-merger notification interpretation guideline number 10 : notifiable transactions regulations - transactions and events (Section 14 of the Regulations).: Iu54-35/10-2011E-PDF

"Section 14 of the Notifiable Transactions Regulations ("the Regulations") provides for the adjustment of the aggregate value of assets or the gross revenues from sales when a transaction or event has occurred after the close of the fiscal period for which audited financial statements are available. Adjustments may be made to reflect the transaction or event, the consequence of which, if taken into account, would affect the determination of whether notice is required under section 114 of the Act. Paragraph 14(2)(c) of the Regulations provides that a transaction or event referred to in subsection 14(1) of the Regulations includes any agreement, arrangement, understanding or other transaction or event that is likely to have a material effect on the aggregate value of the assets or gross revenues from sales of the parties to the proposed transaction or of their affiliates. A material effect is one which would affect the determination of whether notice is required under section 114 of the Act"--Background, p. 3.

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