OSC 2009

Global Prosperata Funds Inc. applied for an exemption from section 2.1(e) of National Instrument 81-101 to allow additional time to file a final prospectus for the Global Iman Fund.

The Director of the Ontario Securities Commission granted the requested exemption, extending the deadline to file the prospectus to March 20, 2009.

The manager of SEF Private Issuers Trust applied for an order designating the Fund as a reporting issuer under the Securities Act.

The Fund was established to facilitate the conversion of Strategic Energy Fund from a closed-end investment trust to an open-end mutual fund trust.

The Commission granted the order, finding it to be in the public interest.

The Filer, as manager of Strategic Energy Fund, applied for exemptive relief from the restrictions on transactions with responsible persons under s. 118(2)(b) of the Securities Act.

The relief was sought to permit the transfer of private issuer securities to a newly-established closed-end investment fund as part of the Fund's conversion to an open-ended mutual fund.

The Ontario Securities Commission granted the requested relief, conditional upon the Filer obtaining the approval of the Fund's independent review committee and maintaining records of the fair value determination of the transferred securities.

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

The Applicant represented that its outstanding securities are beneficially owned by fewer than 51 security holders in total in Canada, and that its securities are not traded on a marketplace.

The Ontario Securities Commission granted the requested relief, ordering that the Applicant is not a reporting issuer.

Franklin Templeton Investments Corp. applied for exemptive relief from paragraphs 2.5(2)(a) and 2.5(2)(c) of National Instrument 81-102 to permit its Top Funds to invest up to 10% of their net assets in certain mutual funds governed by the laws of Luxembourg.

The Ontario Securities Commission granted the relief, subject to conditions including that the underlying funds qualify as UCITS and that the Top Funds divest if Luxembourg laws cease to be materially consistent with Part 2 of NI 81-102.

The applicants, Middlefield Fund Management Limited and Middlefield Resource Class, applied for exemptive relief from section 2.4(2) of National Instrument 81-102.

The relief sought additional time to reduce the mutual fund's illiquid assets to 15% or less of its net assets.

The principal regulator granted the exemption, permitting the extension provided the fund does not acquire any additional illiquid assets.

The applicant, JumpTV Inc., applied for exemptive relief from the requirements of National Instrument 52-107 to prepare and audit its financial statements in accordance with Canadian GAAP and GAAS.

Following a reverse take-over by NeuLion, Inc., the applicant sought to prepare its financial statements in accordance with U.S. GAAP and U.S. GAAS, as it would become an SEC issuer.

The Ontario Securities Commission granted the requested relief, subject to conditions including the filing of financial statements prepared in accordance with U.S. GAAP and the provision of reconciliations to Canadian GAAP for comparative periods.

The applicant, Global Prosperata Funds Inc., applied on behalf of the Global Iman Fund for exemptive relief from section 2.1(e) of National Instrument 81-101.

The relief sought was an extension of the 90-day time limit to file a final prospectus after the receipt of a preliminary prospectus.

The Director of the Ontario Securities Commission granted the exemption, subject to the condition that the prospectus be filed no later than February 24, 2009.

The Filer applied for exemptive relief under National Instrument 81-102 to merge its assets referable to its Balanced Shares with its Diversified Shares, and its Resource Shares with its Growth Shares.

The mergers did not meet the criteria for pre-approved reorganizations because the investment objectives were not substantially similar, the transactions were not qualifying exchanges under the Tax Act, and the circular incorporated the prospectus and financial statements by reference rather than including them.

The Ontario Securities Commission granted the requested approval.

The Applicant, Renasant Financial Partners Ltd., applied to the Ontario Securities Commission and other jurisdictions for a decision that it is no longer a reporting issuer.

The Applicant represented that its outstanding securities are beneficially owned by fewer than 51 security holders in Canada and are not traded on a marketplace.

The Commission was satisfied that the statutory test was met and ordered that the Applicant is not a reporting issuer.

The applicants sought an exemption from the multi-layering prohibition in paragraph 2.5(2)(b) of National Instrument 81-102.

The exemption would permit mutual funds to invest in other mutual funds that hold more than 10% of their net assets in underlying funds, specifically where the underlying funds use derivatives to obtain the returns of a related money market fund.

The principal regulator granted the requested exemptive relief.

The Applicant, Kingly Enterprises Inc., applied to the Ontario Securities Commission and the Nova Scotia Securities Commission for a decision that it is no longer 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 Decision Makers granted the application, ordering that the Applicant is not a reporting issuer.

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

The Filer had acquired all outstanding shares of Q9 Networks Inc., resulting in the Filer becoming a reporting issuer.

The Filer had fewer than 51 securityholders in Canada and no securities traded on a marketplace.

The Ontario Securities Commission, as principal regulator, granted the requested exemptive relief.

The applicant filed for exemptive relief from the requirement to include a formal valuation in its takeover bid circular for the remaining common shares of the respondent.

The applicant argued that the UK Code required it to proceed with the pre-announced offer, but the formal valuation was delayed, causing prejudice.

The Ontario Securities Commission granted the relief, permitting the applicant to mail the circular without the valuation, provided the valuation is sent as an amendment within 7 days of receipt and the offer remains open for at least 14 days thereafter.

The Applicant, Pan Caribbean Minerals Inc., 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, and that its securities are not traded on a marketplace.

The Ontario Securities Commission granted the application and ordered that the Applicant is not a reporting issuer.

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

The decision maker found that the Applicant met the statutory test, as its securities are beneficially owned by fewer than 51 security holders in Canada, its securities are not traded on a marketplace, and it is not in default of its obligations.

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

The filers, McDonald's Restaurants of Canada Limited and its associated marketing funds, applied to the Ontario Securities Commission for exemptive relief from the prospectus and dealer registration requirements.

The relief was sought to allow the distribution of Class A shares to franchisees once the number of shareholders exceeded 50, which would otherwise preclude reliance on the private issuer exemption.

The Commission granted the requested relief, subject to conditions including restrictions on share transfers and the provision of specific disclosure documents to prospective purchasers.

The manager of several mutual funds applied for exemptive relief from the requirement under National Instrument 81-102 to calculate issue and redemption prices based on the next determined daily net asset value.

The funds intended to use specified derivatives, which requires daily net asset value calculation under National Instrument 81-106, but the manager wished to continue processing purchases and redemptions on a weekly basis to minimize transactional costs for its managed account clients.

The principal regulator granted the exemption, provided the funds calculate their net asset value and value derivative positions daily, use the next weekly net asset value for issue and redemption prices, and restrict investors to those with discretionary management agreements.

The Filer, a real estate investment trust, applied to the Ontario Securities Commission for exemptive relief from certain continuous disclosure obligations under National Instrument 51-102.

Specifically, the Filer sought to exclude the depreciation of income-producing properties when applying the Income Test to determine if a business acquisition report was required for its recent acquisition of an apartment building.

The Filer argued that applying the Income Test without this exclusion produced an anomalous result inconsistent with other significance tests.

The Principal Regulator granted the requested exemption, finding it met the legislative test.

The Filers applied for exemptive relief from certain prospectus and continuous disclosure requirements under National Instrument 44-102 and National Instrument 44-101 to renew the CARS and PARS Programme and offer Strip Securities.

The principal regulator granted the exemption, subject to conditions including that the Underlying Obligations were qualified for distribution under a prospectus and that the Filers comply with continuous disclosure obligations.