OSC 2008

The Filer, a special purpose vehicle issuing asset-backed securities, applied for an exemption from the requirements of Multilateral Instrument 52-109 to file interim and annual certificates.

The principal regulator granted the exemption, subject to conditions including that the Filer is not required to file financial statements under Canadian securities legislation and that it files alternative forms of annual and interim certificates.

The applicant, CI Investments Inc., applied for exemptive relief on behalf of several mutual funds from the mutual fund conflict of interest investment restrictions and reporting requirements under the Securities Act.

The relief was sought to permit the top funds to continue investing in underlying reference funds after the reference funds ceased distributing securities under a simplified prospectus.

The Ontario Securities Commission granted the requested exemption, subject to the condition that the investments comply with section 2.5 of National Instrument 81-102, except as permitted by prior relief.

The Filer, an issuer of asset-backed securities, applied for an exemption from the requirements of Multilateral Instrument 52-109 to file interim and annual certificates.

The Ontario Securities Commission granted the exemptive relief, subject to conditions including the requirement that the Filer file alternative forms of annual and interim certificates as set out in the decision.

The applicant, on behalf of a commodity pool mutual fund, applied for exemptive relief from certain provisions of National Instrument 81-102.

The requested relief sought to permit the fund to engage in short selling of securities up to 40% of its net assets, provide a security interest over its assets, and deposit assets with borrowing agents.

The Ontario Securities Commission granted the requested relief, revoking a prior decision that capped short selling at 20%, subject to specific conditions including cash cover requirements and internal controls.

The Filer, an SEC issuer that adopted US GAAP, applied for exemptive relief from the requirements of National Instrument 52-107 to present a Canadian GAAP reconciliation for acquisition statements and proforma financial information in a business acquisition report related to its acquisition of National Medical Health Card Systems, Inc. The Ontario Securities Commission granted the relief, noting that the Filer had previously filed financial statements using US GAAP and that a Canadian GAAP reconciliation was not necessary for investors to have a consistent basis of accounting.

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

The decision maker granted the application, finding that the Applicant's securities are owned by fewer than 51 security holders in Canada, are not traded on a marketplace, and the Applicant is not in default of its obligations.

The applicant, CI Investments Inc., applied for exemptive relief from certain concentration, control, and fund-of-funds restrictions in National Instrument 81-102.

The relief was sought to permit certain mutual funds to continue to purchase and hold securities of related underlying funds after those underlying funds cease to offer their securities under a simplified prospectus.

The Ontario Securities Commission granted the requested relief, provided the underlying funds remain reporting issuers subject to the Mutual Fund Instruments.

CIBC Asset Management Inc. applied for exemptive relief under National Instrument 81-102 to suspend the redemption rights of certain unitholders of the Renaissance Funds and Axiom Portfolios for one day.

The suspension was requested to facilitate the integration of two unitholder record-keeping platforms into a single platform and to prevent pending transactions during the conversion.

The Ontario Securities Commission granted the requested relief, permitting the one-day suspension of redemption rights.

The Applicant, Cunningham Lindsey Group Inc., applied for a decision under the securities legislation of multiple jurisdictions that it is not a reporting issuer.

The Decision Maker found that the Applicant met the necessary criteria, including having fewer than 51 security holders in Canada and no securities traded on a marketplace.

The application was granted, and the Applicant was ordered not to be a reporting issuer.

The Filer, Brookfield Renewable Power Inc., applied for an exemption from the qualification criteria under National Instrument 44-101 and National Instrument 44-102 for filing a short form prospectus in the form of a base shelf prospectus.

The Filer is a successor issuer formed through an amalgamation and could not rely on the standard exemption.

The Ontario Securities Commission granted the exemption, subject to conditions requiring the incorporation by reference of the predecessor entities' annual information form and consolidated financial statements, as well as the inclusion of specific disclosure directly in the base shelf prospectus.

The Filer applied for exemptive relief to exclude depreciation of income-producing properties when applying the Income Test for its continuous disclosure obligations under Part 8 of National Instrument 51-102.

The Filer argued that including depreciation produced anomalous results compared to other significance tests.

The Ontario Securities Commission granted the requested relief, finding that excluding depreciation more accurately reflected the business and commercial significance of the acquisition.

The Filer, a non-redeemable investment fund, applied for an exemption from the requirement under section 14.2(3)(a) of National Instrument 81-106 to calculate its net asset value at least once a week.

The Filer proposed to calculate its net asset value twice a month.

The Ontario Securities Commission granted the exemption, subject to the conditions that the Filer's Class A Shares remain listed on the TSX and that the net asset value is calculated at least twice per calendar month.

Mackenzie Financial Corporation applied on behalf of the Mackenzie Destination+ 2017 Fund for an exemption from the requirement to prepare and file a management report of fund performance (MRFP) for the financial year ended June 30, 2008.

The Fund was created on June 12, 2008, and only had public investors for a maximum of 5 trading days during the financial year.

The Ontario Securities Commission granted the requested relief, provided that the first interim MRFP for the period ended December 31, 2008 includes financial highlights.

The Public Sector Pension Investment Board and its affiliated entities applied to the Ontario Securities Commission for exemptive relief from the early warning requirements, moratorium provisions, and insider reporting requirements under National Instrument 62-103.

The Filers manage pension funds but do not technically qualify as an 'eligible institutional investor' or 'investment manager' under the instrument.

The Commission granted the requested exemptions, provided the Filers comply with the applicable reporting and filing requirements as if they were an eligible institutional investor.

The Manager applied for exemptive relief to approve the merger of two terminating mutual funds into a continuing fund, and for relief from the requirement to deliver the continuing fund's financial statements to unitholders in connection with the current and future mergers.

The Ontario Securities Commission granted the requested relief, provided that the management information circular prominently discloses how unitholders can access the financial statements and that the Manager provides them upon request.

The applicants, T.E. Investment Counsel Inc. and JovFunds Management Inc., applied to the Ontario Securities Commission for exemptive relief on behalf of several mutual funds.

The applicants sought relief from the mutual fund conflict of interest investment restrictions and reporting requirements under the Securities Act (Ontario) to permit the top funds to invest in underlying commodity pools (Horizons BetaPro ETFs and Funds).

The Commission granted the requested relief, permitting the investments provided they comply with section 2.5 of National Instrument 81-102, as modified by a concurrent exemptive relief decision.

The applicant, a UK-based global financial services provider, applied for exemptive relief from the dealer registration and prospectus requirements under the Securities Act.

The relief was sought to permit the issuance of ordinary shares and American Depositary Shares to a de minimis number of its current Canadian shareholders under a global open offer.

The Ontario Securities Commission granted the requested relief, subject to conditions ensuring Canadian shareholders receive terms no less favourable than US shareholders and are provided with appropriate disclosure materials.

The applicants, managers of various mutual funds, applied for exemptive relief from paragraph 2.5(2)(a) of National Instrument 81-102 Mutual Funds.

The relief sought to permit the funds to invest up to 10% of their net assets in aggregate in commodity pools managed by BetaPro Management Inc. that use financial instruments correlating to the performance of an underlying index.

The Ontario Securities Commission granted the exemption, subject to conditions including investment limits, short selling restrictions, and prospectus disclosure requirements.

The applicant, a mutual fund manager, applied for exemptive relief from the short selling restrictions in National Instrument 81-102 Mutual Funds on behalf of its current and future mutual funds.

The relief sought would permit the funds to sell securities short, provide a security interest over fund assets, and deposit fund assets with dealers as security.

The principal regulator granted the exemption, subject to several conditions including a 20% limit on short sales relative to net assets, cash cover requirements, and specific disclosure obligations.

The Ontario Securities Commission granted exemptive relief to Betapro Management Inc., approving a change of control of the manager of the investment funds under National Instrument 81-102.

The change of control resulted from a current shareholder acquiring an additional interest in the manager.

The Commission noted there would be no changes to the management, affairs, or investment managers of the funds.