Its rules aim to prevent companies from sharing inaccurate or misleading information about their mineral assets with prospective investors and the public.
Likewise, the Hong Kong Stock Exchange accepts reports prepared in accordance with NI 43-101, SAMREC or JORC.
The purpose of National Instrument 43-101 is to ensure that misleading, erroneous or fraudulent information relating to mineral properties is not published and promoted to investors on the stock exchanges overseen by the Canadian Securities Administrators.
"[3] The promulgation of a codified reporting scheme makes it more difficult for fraud to occur and reassures investors that the projects have been assessed in a scientific and professional manner.
In this way, NI 43-101 may not serve the interests of those it is designed to protect[dubious – discuss]—the retail investors who may easily misinterpret such information.
The JORC Code, were it equal with NI 43-101 would be derived from the Australian Securities and Investment Commission, not the relevant industry bodies.
This Qualified Person, in the spirit of the National Instrument, is required to be a reputable professional who is knowledgeable of the mineral property concerned, and who has sufficient experience and qualifications to make the statements which are made within the report.