The applicants, Brookfield Property Partners L.P. and Brookfield Property Split Corp., applied to the Ontario Securities Commission for exemptive relief from various continuous disclosure, certification, insider reporting, audit committee, corporate governance, and prospectus disclosure requirements.
The relief was sought to accommodate the issuance of Class A senior preferred shares by the successor of BOP Split in connection with a plan of arrangement.
The Commission granted the requested exemptions, subject to several conditions, including that the applicants continue to satisfy modified conditions under National Instrument 51-102 and that the parent credit supporter consolidates the relevant entities in its financial statements.