The regulation-making process follows the legislative authority of Parliament. Once an act has given regulation-making authority to the minister, the royal assent on the bill is then prescribed to justice drafters, who then work through the regulation-making process. The regulation-making process normally, then, has justice drafters draft the regulations as per the instructions. Those are then made public through the Canada Gazette part I process for public comment. Those comments are then received and incorporated. The Canada Gazette part II process happens for final publication, and then it goes through the Governor in Council process for approval as regulations.
The standard process would be that regulations can't be formally drafted in advance of the royal assent of the bill, because the minister doesn't yet have regulation-making authority.
In this particular case, the intent of prescribed information on diversity, there has been some guidance given in terms of what that would look like, notably following through on the securities commission's current guidelines with respect to form 58-101F, which sets out the gender makeup of boards and senior management; and then a further requirement of a diversity policy where the intent would be to indicate that if a corporation has adopted a written policy related to diversity other than gender, which may include the employment equity groups amongst the directors and members of senior management, to disclose that to their shareholders.