OSC 2009

The applicant, a commodity pool, applied for exemptive relief from the concentration and illiquid asset restrictions in sections 2.1(1) and 2.4 of National Instrument 81-102.

The relief was sought to permit the fund to invest substantially all of its assets in short-term notes linked to the performance of a diversified commodity index.

The Ontario Securities Commission granted the requested relief, subject to conditions including that the note issuer maintain an approved credit rating and that the notes be redeemable on a daily basis.

The Filers applied for exemptive relief from various provisions of National Instrument 81-102 Mutual Funds.

The closed-end fund technically converted to a mutual fund due to circumstances beyond its control when Standard & Poor's withdrew its stability rating.

The principal regulator granted the requested relief, permitting the fund to borrow up to 15% of its net assets and exempting it from certain requirements concerning purchase and redemption orders, compliance reports, and distribution record dates, subject to conditions.

The Bank of Nova Scotia and Scotiabank Tier 1 Trust applied for exemptive relief from certain continuous disclosure and certification obligations under National Instrument 51-102 and National Instrument 52-109.

The Trust is a single purpose vehicle established to raise capital for the Bank.

The principal regulator granted the requested exemptions, subject to conditions including that the Bank remains a reporting issuer, files its own continuous disclosure documents under the Trust's SEDAR profile, and the Trust complies with specific reporting requirements for material changes.

The Bank of Nova Scotia and Scotiabank Tier 1 Trust applied for an order exempting the Trust from the requirement to pay a participation fee under section 2.2 of Ontario Securities Commission Rule 13-502 Fees.

The Trust is a single-purpose vehicle established to raise capital for the Bank and does not qualify as a subsidiary entity under Canadian GAAP due to variable interest entity consolidation rules.

The Commission granted the order, finding that the Bank controls the Trust and already pays participation fees that include the Trust's capitalization.

The Filer, Central Sun Mining Inc., applied for a decision that it is no longer a reporting issuer following a business combination with B2Gold.

B2Gold acquired all issued and outstanding common shares of the Filer.

The Filer's securities are beneficially owned by fewer than 15 holders in each jurisdiction and it has no intention to seek public financing.

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

Mavrix Fund Management Inc. applied for exemptive relief to approve a change of control resulting from its acquisition by Growth Works Ltd., and to abridge the 60-day notice period to unitholders to 38 days.

The Ontario Securities Commission granted the relief, conditional on unitholders receiving at least 38 days' notice and no changes being made to the management, administration, or portfolio management of the mutual funds for at least 60 days following the notice date.

The Applicant applied to the Ontario Securities Commission for a decision that it is no longer a reporting issuer.

The Commission granted the requested relief, noting that the Applicant's outstanding securities are beneficially owned by fewer than 15 security holders in each jurisdiction in Canada and fewer than 51 in total, and its securities are not traded on a marketplace.

The applicants, Franklin Templeton Investments Corp. and Fiduciary Trust Company of Canada, applied for exemptive relief from the self-dealing provisions of the Securities Act.

The relief sought would permit inter-fund trades between mutual funds, pooled funds, and managed accounts managed by the applicants or their affiliates.

The Ontario Securities Commission granted the requested relief, subject to conditions including compliance with National Instrument 81-107, Independent Review Committee approval or client consent, and specific pricing requirements for exchange-traded securities.

The Applicant applied for a decision under the securities legislation of Ontario, Alberta, and Saskatchewan 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, and its securities are not traded on a marketplace.

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

The filers, John Deere Credit Inc. and John Deere Limited, applied for exemptive relief from the dealer registration, underwriter registration, and prospectus requirements under the Securities Act for trades of short-term commercial paper.

The Ontario Securities Commission granted the requested exemptions, subject to conditions including that the commercial paper matures within one year, is not convertible, and maintains a specified minimum credit rating from an approved rating organization.

GMP Capital Inc. applied for exemptive relief from the requirement under section 2.8(1) of National Instrument 44-101 to file a notice of intention to be qualified to file a short form prospectus at least 10 business days prior to filing its first preliminary short form prospectus.

The applicant was converting from an income fund to a corporate structure and would become a successor issuer.

The Ontario Securities Commission granted the requested relief, noting that the predecessor issuer was already qualified to file a short form prospectus.

The Manager applied on behalf of several mutual funds for exemptive relief from certain provisions of National Instrument 81-102 to permit the funds to engage in short selling of securities up to 20% of their net assets.

The principal regulator granted the requested relief, subject to various conditions including limits on the amount of short selling, requirements for cash cover, and specific disclosure obligations in the funds' prospectuses and annual information forms.

Mackenzie Financial Corporation applied for exemptive relief to approve the mergers of several terminating mutual funds into continuing funds, and for an exemption from the requirement to deliver simplified prospectuses and financial statements to investors of the terminating funds.

The Ontario Securities Commission granted the relief, permitting the delivery of a tailored prospectus and an information circular detailing how to access the financial statements, provided the mergers are approved by investors.

The Applicant, Luxell Technologies Inc., applied for a decision under the securities legislation of Alberta, Manitoba, Quebec, and Ontario 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, and its securities are not traded on a marketplace.

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

The applicants, Marret Asset Management Inc. and Marret HYS Trust, applied for exemptive relief from the requirement in section 14.2(3)(b) of National Instrument 81-106 that an investment fund using specified derivatives must calculate its net asset value daily.

The Ontario Securities Commission granted the exemption, permitting the fund to calculate its net asset value on a weekly basis, subject to certain conditions including that the units are not offered to the public.

The applicant, Sentry Select Capital Inc., applied for exemptive relief from the self-dealing prohibitions under the Securities Act and its regulations.

The relief was sought in connection with the proposed mergers of several terminating non-redeemable investment funds into a continuing mutual fund.

The mergers involved the transfer of assets between the funds, which are managed by the same portfolio manager.

The Ontario Securities Commission granted the requested relief, subject to conditions regarding disclosure and the provision of financial statements to unitholders.

The Applicant, Griffiths McBurney L.P., applied for a decision under the securities legislation of multiple jurisdictions that it is not 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 a marketplace.

The Applicant, GMP Capital Trust, applied to the Ontario Securities Commission and other jurisdictions for a decision that it is not a reporting issuer.

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

The Commission granted the order, declaring that the Applicant is not a reporting issuer.

American Capital, Ltd. applied for a decision that it is no longer a reporting issuer in the Jurisdictions.

The Filer is a U.S. issuer with less than 2% of its outstanding shares beneficially owned by Canadian residents.

The Filer has not conducted an offering in Canada in the past 12 months and its securities do not trade on any Canadian market.

The Decision Makers granted the requested exemptive relief, noting the Filer's undertaking to continue delivering U.S. disclosure materials to its Canadian securityholders.

The applicant, Mavrix Explore 2009 – I FT Limited Partnership, applied for exemptive relief from section 2.3(1) of National Instrument 41-101, which prohibits filing a final 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 June 12, 2009.