The Filer, a real estate investment trust, applied for exemptive relief from the requirement to file a business acquisition report under Part 8 of National Instrument 51-102 in connection with two property acquisitions.
Although the acquisitions were significant under the income test, they were not significant under the asset and investment tests.
The principal regulator granted the relief based on representations that the income test produced anomalous results and that the acquisitions were not significant from a practical, commercial, business, or financial perspective.