The Canadian Securities Administrators announced that amendments to oil and gas disclosure rules have been enacted.

The amendments to National Instrument 51-101 (NI 51-101) Standards of Disclosure for Oil and Gas Activities provide revised standards for the disclosure of resources. They also modify, and in some instances, streamline annual filing requirements and other requirements.

“Since it was implemented in September 2003, NI 51-101 has been recognized as providing Canada with one of the finest oil and gas disclosure regimes in the world,” said Jean St-Gelais, chair of the CSA and president & CEO of the Autorité des marchés financiers, in a news release.

“Through our review and feedback from the market, we identified areas where the rule could be improved. These amendments address these areas and make NI 51-101 more meaningful and understandable to investors.”