OSC 2010

The Applicant, Corel Corporation, 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 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 to no longer be a reporting issuer.

The Filers applied to the Ontario Securities Commission for exemptive relief from the prospectus delivery requirement and certain prospectus form requirements in connection with at-the-market (ATM) distributions of trust units.

The Commission granted the relief, noting that prospectus delivery is not practicable in an ATM distribution where the dealer does not know the identity of the purchasers.

The relief was granted subject to conditions, including the filing of a modified forward-looking issuer certificate and specific disclosure regarding purchasers' statutory rights.

The applicant, GrowthWorks Commercialization Fund Ltd., applied for exemptive relief from the securityholder and regulatory approval requirements of National Instrument 81-102.

The relief was sought to permit the pooling of assets among different series of Class A shares and subsequent conversion of series into the originally offered series, in accordance with revised asset allocation rules.

The Ontario Securities Commission granted the requested exemption, subject to conditions regarding prospectus disclosure and investment objectives, and revoked the prior relief granted in 2006.

The ScotiaMocatta Physical Copper Fund applied to the Director of the Ontario Securities Commission for exemptive relief under section 19.1 of National Instrument 41-101.

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

The Director granted the requested exemption, permitting the final prospectus to be filed no later than April 30, 2010.

The applicant sought exemptive relief on behalf of mutual funds from the investment prohibition in subsection 4.1(1) of National Instrument 81-102.

The relief would permit the funds to purchase equity securities of a reporting issuer during a private placement distribution, even if a related underwriter is involved.

The Ontario Securities Commission granted the exemption, subject to conditions including approval by the funds' independent review committee and compliance with other provisions of NI 81-102.

The applicant, acting as plan sponsor and administrator of a group registered retirement savings plan, applied for exemptive relief from the dealer registration and prospectus requirements of the Securities Act.

The relief was sought in respect of trades in securities of mutual funds to plan members.

The Ontario Securities Commission granted the requested relief, subject to conditions including the provision of specific information, performance reporting, and investment decision-making tools to plan members.

Xenos Group Inc. applied for exemptive relief from the requirements to file and deliver interim financial statements, management's discussion and analysis, and related officer certifications for the three months ended December 31, 2009.

The application was made in the context of a compulsory acquisition under the Business Corporations Act (Ontario) following a successful take-over bid by Actuate Canada International Corporation.

The Ontario Securities Commission granted the requested relief, noting that the filer would soon be wholly owned by the acquirer and cease to be a reporting issuer.

The Applicant, Coretec Inc., 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 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 Commission granted the application, ordering that the Applicant is not a reporting issuer.

The Filers applied to the Ontario Securities Commission for an order exempting Sun Life Capital Trust II from the requirement to pay a participation fee under section 2.2 of OSC Rule 13-502 Fees.

The Trust is a single-purpose vehicle established to raise capital for Sun Life Assurance Company of Canada.

Although the Trust and its parent meet the substantive requirements for the subsidiary entity exemption under section 2.6(2) of the Fees Rule, they could not rely on it due to technical accounting standards preventing consolidation.

The Commission granted the requested relief, provided the Trust's capitalization is included in the parent company's participation fee calculation.

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

The Commission found that the applicant met the requirements, as its outstanding securities were beneficially owned by fewer than 51 security holders in Canada, its securities were not traded on a marketplace, and it was not in default of its obligations.

The application was granted.

The Filers applied for exemptive relief from continuous disclosure and certification requirements under National Instrument 51-102 and National Instrument 52-109.

The Trust was established solely to effect offerings of trust securities to provide the insurance company with a cost-effective means of raising capital.

The Ontario Securities Commission granted the exemption, finding that the meaningful information for public holders of the trust securities is information regarding the insurance company and its holding company, rather than the Trust itself, subject to certain conditions.

The Applicant, Stingray Copper Inc., applied to the Ontario Securities Commission and other jurisdictions for a decision that it is no longer a reporting issuer.

The Commission was satisfied that the Applicant met the criteria, including having fewer than 51 security holders in Canada and no securities traded on a marketplace.

The order was granted, deeming the Applicant to no longer be a reporting issuer.

The applicant applied for exemptive relief to merge a closed-end fund, which was converting to an open-end fund, into an existing open-end mutual fund.

Regulatory approval was required because the merger did not meet all pre-approved reorganization criteria under NI 81-102, specifically regarding differing investment objectives, fee structures, and the taxable nature of the transaction.

The Ontario Securities Commission granted the requested relief, allowing the merger to proceed.

The Filer, an investment fund, applied for exemptive relief from the requirement under National Instrument 81-106 to calculate its net asset value on a daily basis due to its use of specified derivatives.

The principal regulator granted the exemption, permitting the fund to calculate its NAV on a weekly basis, provided its Class A Units are listed on the TSX.

The applicant manager applied for exemptive relief on behalf of an exchange-traded mutual fund trust to permit the trust to invest up to 100% of its net assets in physical gold bullion.

The applicant also sought relief to appoint the Royal Canadian Mint as the gold custodian and to vary certain mutual fund requirements relating to the transmission of purchase or redemption orders, calculation and payment of redemptions, and the record date for distributions.

The principal regulator granted the requested exemptions, provided the prospectus contains disclosure regarding the unique risks of direct gold bullion purchases and the trust complies with applicable exchange requirements for setting distribution record dates.

The Applicant applied to the Ontario 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 Canadian jurisdiction and fewer than 51 in total in Canada, and its securities 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.

Hillsborough Resources Limited applied for a decision that it is no longer a reporting issuer.

Following a plan of arrangement, all of its common shares and debentures were acquired or cancelled, and its shares were delisted from the TSX.

The Filer was in default of audit committee requirements under NI 52-110 because its new board members did not comply.

The Ontario Securities Commission granted the exemptive relief sought, declaring the Filer is not a reporting issuer.

The Applicant applied to the Ontario 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 Canadian jurisdiction and fewer than 51 in total, its securities are not traded on a marketplace, and it is not in default of its obligations.

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

The Applicant, Student Transportation of America ULC, applied for a decision under the securities legislation of multiple jurisdictions that it is not 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, no securities were traded on a marketplace, and it was not in default of its obligations.

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

The applicants applied for exemptive relief from the insider reporting requirements under section 107(2) of the Securities Act.

The relief was sought in respect of the exercise of options and the disposition of shares pursuant to automatic securities disposition plans.

The Ontario Securities Commission granted the exemption, provided that the insider files an annual report disclosing the transactions on a transaction-by-transaction basis or in an acceptable summary form within 90 days of the end of the calendar year.