As filed with the Securities and Exchange Commission on March 29, 2006
                                                      Registration No. 333-49458
================================================================================

                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549
                                -----------------
                        POST-EFFECTIVE AMENDMENT NO. 3 TO
                                    FORM S-3
             REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933
                                -----------------
                         WAVERIDER COMMUNICATIONS, INC.
             (Exact name of registrant as specified in its charter)
                                -----------------
            Nevada                                    33-0264030
  (State or other jurisdiction of       (I.R.S. Employer Identification No.)
  incorporation or organization)

                          255 Consumers Road, Suite 500
                        Toronto, Ontario, Canada M2J 1R4
                                 (416) 502-3200
   (Address, including zip code, and telephone number, including area code, of
                   registrant's principal executive offices)
                                ---------------
                              T. Scott Worthington
                         WaveRider Communications, Inc.
                          255 Consumers Road, Suite 500
                        Toronto, Ontario, Canada M2J 1R4

    (Name, address, including zip code, and telephone number, including area
                          code, of agent for service)
                                 ---------------
                                   Copies to:
                             David A. Broadwin, Esq.
                                 Foley Hoag LLP
                              155 Seaport Boulevard
                           Boston, Massachusetts 02210
                                 (617) 832-1000

     Approximate date of commencement of proposed sale to public:
     If the only securities being registered on this Form are being offered
pursuant to dividend or interest reinvestment plans, please check the following
box. |_|
     If any of the securities being registered on this Form are to be offered on
a delayed or continuous basis pursuant to Rule 415 under the Securities Act of
1933, other than securities offered only in connection with dividend or interest
reinvestment plans, check the following box. |_|
     If this Form is filed to register additional securities for an offering
pursuant to Rule 462(b) under the Securities Act, please check the following box
and list the Securities Act registration statement number of the earlier
effective registration statement for the same offering. |_| _______________.
     If this Form is a post-effective amendment filed pursuant to Rule 462(c)
under the Securities Act, check the following box and list the Securities Act
registration statement number of the earlier effective registration statement
for the same offering. |_| _______________.
     If this Form is a registration statement pursuant to General Instruction
I.D. or a post-effective amendment thereto that shall become effective upon
filing with the Commission pursuant to Rule 462(e) under the Securities Act,
check the following box. |_|
     If this Form is a post-effective amendment to a registration statement
filed pursuant to General Instruction I.D. filed to register additional
securities or additional classes of securities pursuant to Rule 413(b) under the
Securities Act, check the following box. |_|
                                -----------------
The Registrant hereby amends this Registration Statement on such date or dates
as may be necessary to delay its effective date until the Registrant shall file
a further amendment which specifically states that this Registration Statement
shall thereafter become effective in accordance with Section 8(a) of the
Securities Act of 1933 or until the Registration Statement shall become
effective on such date as the Commission acting pursuant to said Section 8(a),
may determine.


         We hereby remove from registration all of the shares of common stock
registered under this registration statement (333-49458) which have not been
sold as of the time of filing of this Post-Effective Amendment No. 3.

                                   SIGNATURES

         Pursuant to the requirements of the Securities Act of 1933 and Rule 478
thereunder, the registrant certifies that it has reasonable grounds to believe
that it meets all of the requirements for filing on Form S-3 and has duly caused
this registration statement to be signed on its behalf by the undersigned,
thereunto duly authorized, in Toronto, Ontario, Canada, on this 29th day of
March, 2006.

                             WAVERIDER COMMUNICATIONS, INC.


                             By: /s/ T. Scott Worthington
                                 --------------------------------------------
                                 Name:   T. Scott Worthington
                                 Title:  Vice President, Chief Financial Officer
                                         and Secretary