OSC 2008

The Filer, a Spanish corporation, applied for a decision that it is no longer a reporting issuer in the Jurisdictions.

The Filer demonstrated that Canadian resident shareholders beneficially own less than 2% of its outstanding securities and represent less than 2% of the total number of beneficial shareholders.

The Filer has no intention of seeking public financing in Canada, and its securities do not trade on any Canadian market.

The Commission granted the requested relief, noting the Filer's compliance with Spanish securities laws and its undertaking to make disclosure documents available to Canadian securityholders.

The Applicant, Crescentwood Capital Corp., applied for a decision under the securities legislation of multiple jurisdictions that it is no longer a reporting issuer.

The Ontario Securities Commission granted the requested relief, noting that the Applicant's outstanding securities are beneficially owned by fewer than 51 security holders in Canada and are not traded on any marketplace.

The applicant, frontierAlt Funds Management Limited, applied for approval of a change of manager of the frontierAlt Opportunistic Global Fund to Ark Fund Management Ltd. under section 5.5(1)(a) of National Instrument 81-102 Mutual Funds.

The Ontario Securities Commission granted the approval, finding that the change of manager would not result in any material changes to the management and administration of the fund, unitholders received timely and adequate disclosure, and the change was not detrimental to unitholders or the public interest.

The filer applied for exemptive relief from the substantial securityholder and related person securities prohibitions under the Securities Act to permit its pooled funds to purchase securities of a related issuer in the secondary market.

The Ontario Securities Commission granted the relief, subject to conditions including approval by the funds' independent review committee and compliance with pricing and transparency requirements for non-exchange traded securities.

The applicants, Artemis Investment Management Limited and Alpha Scout RSP Fund, applied to the Ontario Securities Commission for exemptive relief from certain mutual fund investment restrictions under the Securities Act.

The relief was sought to permit a fund-on-fund structure where the top funds would invest in an underlying fund managed by the same entity.

The Commission granted the requested exemption, subject to conditions including the avoidance of duplicate management fees and the provision of specific disclosures to investors.

The Applicant, Duran Resources ULC, applied for a decision under the securities legislation of Ontario and Alberta that it is not a reporting issuer.

The Applicant represented that its outstanding securities are beneficially owned by fewer than 15 security holders in each jurisdiction and fewer than 51 in total in Canada, its securities are not traded on a marketplace, and it is not in default of its obligations.

The Ontario Securities Commission granted the requested relief, ordering that the Applicant is no longer a reporting issuer.

The applicant, a French issuer, applied for exemptive relief from the dealer registration and prospectus requirements under the Securities Act in connection with a global employee share offering.

The offering involved the use of collective employee shareholding vehicles (FCPEs) and could not rely on the standard employee exemption because shares were offered through the FCPEs rather than directly.

The Ontario Securities Commission granted the requested relief, subject to conditions including restrictions on the first trade of the acquired units or shares.

The filer applied for exemptive relief on behalf of existing and future mutual funds to enter into prepaid forward contracts with a Canadian chartered bank to gain exposure to an underlying mutual fund.

The relief sought exemptions from concentration restrictions, illiquid investment restrictions, and limits on mark-to-market exposure to a counterparty for periods longer than 30 days under National Instrument 81-102.

The Ontario Securities Commission granted the relief, conditional on weekly mark-to-market valuation of the forward contract and weekly adjustment of collateral to ensure the market value of the collateral equals the mark-to-market value of the forward contract, with the collateral remaining free and clear of all liens.

The applicant, a passive investment company, applied for exemptive relief from certain provisions of National Instrument 81-102 regarding investment restrictions, redemption price calculation and payment, compliance reports, and record dates for distributions.

The Ontario Securities Commission granted the requested relief, allowing the applicant to invest its net assets in a specific portfolio of common shares and to calculate and pay retraction prices as described in its prospectus.

Nortel Networks Limited applied for exemptive relief from the dealer registration and prospectus requirements under the Securities Act for trades in units of proprietary pooled mutual funds to members of its defined contribution pension and savings plans.

The Ontario Securities Commission granted the relief, varying a prior order to permit certain fund-of-fund investments, subject to conditions ensuring compliance with the spirit and intent of the capital accumulation plan exemption.

The Filer applied for exemptive relief from section 14.2(2) of National Instrument 81-106 to permit it to record and amortize deferred sales commissions and share issuance costs incurred by ENSIS prior to their merger.

The Ontario Securities Commission granted the relief, noting that the amortization of these deferred charges would only affect former ENSIS shareholders and imposing conditions on the continued amortization.

The Applicant, Aurelian Resources Inc., applied for a decision under the securities legislation of Ontario, Alberta, and Québec that it is no longer a reporting issuer.

The Decision Makers were satisfied that the Applicant met the test, as its outstanding securities were beneficially owned by fewer than 51 security holders in Canada and were not traded on a marketplace.

The application was granted, and the Applicant was ordered to no longer be a reporting issuer.

The Manager applied on behalf of several PowerShares ETFs for exemptive relief under section 19.1 of National Instrument 41-101.

The relief sought an exemption from subsection 2.3(1), which prohibits filing a prospectus more than 90 days after the receipt for the preliminary prospectus.

The Director of the Ontario Securities Commission granted the requested exemption, provided the final prospectus is filed no later than February 16, 2009.

The Filers applied for exemptive relief from the minority approval requirement in Section 4.5 of MI 61-101 regarding a proposed conversion of a publicly traded income fund into a corporate entity.

While the conversion was not a business combination for the fund itself, it technically constituted a business combination for a holding limited partnership within the fund's structure.

The Ontario Securities Commission granted the requested relief, provided that specific conditions within the definition of 'business combination' in MI 61-101 were met.

The applicant, Canadian Storage Partners, ULC, applied for exemptive relief from the requirements of Section 4.2 of Multilateral Instrument 61-101 in connection with a take-over bid for InStorage Real Estate Investment Trust.

The applicant sought to waive the requirement to hold a meeting of unitholders and send an information circular for a second step business combination, proposing instead to obtain minority approval via a written resolution as permitted by the target's declaration of trust.

The Ontario Securities Commission granted the requested relief, provided that minority approval is obtained by the written resolution.

The Applicant applied for a decision under the securities legislation of multiple jurisdictions that it is no longer a reporting issuer.

The Decision Makers were satisfied that the Applicant met the statutory test, as its outstanding securities are beneficially owned by fewer than 51 security holders in Canada and are not traded on a marketplace.

The application was granted, and the Applicant was deemed to no longer be a reporting issuer.

Alpha ATS L.P. applied for exemptive relief from the requirement to be recognized as a stock exchange or exchange under the securities legislation of multiple jurisdictions, and for passport relief from the advance notice requirement under paragraph 6.6(b) of National Instrument 21-101 Marketplace Operation.

The relief was sought in connection with the operation of an Odd Lot Facility, which could be considered as providing a guarantee of a two-sided market.

The Ontario Securities Commission, acting as principal regulator, granted the requested exemptive relief subject to conditions, including compliance with ATS Rules and notification requirements if certain trading thresholds are met.

The applicants sought an exemption from the insider reporting requirements under section 107(2) of the Securities Act.

The exemption was requested for the exercise of options and the acquisition, transfer, and disposition of common shares pursuant to an automatic share disposition plan.

The Ontario Securities Commission granted the requested relief, subject to the condition that the insider file an annual summary report disclosing the transactions.

The Applicant, BFI Canada Income Fund, applied for a decision under the securities legislation of multiple jurisdictions that it is not a reporting issuer.

The Decision Maker was satisfied that the Applicant met the test, as its outstanding securities were beneficially owned by fewer than 51 security holders in Canada and were not traded on a marketplace.

The requested relief was granted, and the Applicant was ordered to no longer be a reporting issuer.

The Filer, CHC Helicopter LLC, applied for a decision under the securities legislation of multiple Canadian jurisdictions to be deemed to have ceased to be a reporting issuer.

Following a corporate reorganization and the acquisition of all its outstanding shares, the Filer's securities were delisted and it had fewer than 15 security holders in each jurisdiction.

The Ontario Securities Commission, acting as principal regulator, granted the requested exemptive relief, revoking the Filer's reporting issuer status.