OSC 2010

Spider Resources Inc. applied for a decision under the securities legislation of Ontario, Alberta, and Quebec that it is no longer a reporting issuer.

The Ontario Securities Commission granted the application, noting that the applicant's 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 applicant, a mutual fund manager, sought approval for an indirect change of control resulting from a management buy-out, and an abridgement of the 60-day securityholder notice requirement to 7 days.

The Ontario Securities Commission granted the requested relief, noting that the change of control would have minimal impact on the funds and that the applicant received late notice of the transaction from its ultimate parent.

The approval was conditional on the applicant providing at least 7 days' notice to securityholders and not initiating any changes to the management and administration of the funds for at least 60 days following the notice.

The Filer applied for exemptive relief from the seed capital requirements for commodity pools under NI 81-104.

The principal regulator granted the relief, permitting the manager to redeem its $50,000 seed capital investment in each pool, provided that each pool has received at least $5.0 million in subscriptions from other investors and the manager maintains the required working capital under NI 31-103.

The Filer, Dividend Select 15 Corp., applied for exemptive relief from certain requirements of National Instrument 81-102 – Mutual Funds.

The requested exemptions related to organizational costs, calculation and payment of redemptions, preparation of compliance reports, and the record date for payment of distributions.

The principal regulator granted the requested exemptions, allowing the Filer to operate its exchange-traded fund with the specified deviations from standard mutual fund requirements.

The applicants, Gryphon Investment Counsel Inc. and Gryphon Balanced Fund, applied for exemptive relief from the investment restrictions in the Securities Act.

The relief sought would permit the top fund to invest in a bottom fund managed by an associate of the top fund's manager in a fund-on-fund structure.

The Ontario Securities Commission granted the requested relief, subject to standard conditions for fund-on-fund structures, including that no duplicate management or incentive fees are payable.

The Filer, San Anton Resource Corporation, applied for a decision to be deemed to have ceased to be a reporting issuer under the securities legislation of Alberta, British Columbia, and Ontario.

Following a business combination, the Filer became an indirect wholly-owned subsidiary of Kings Minerals NL, and its outstanding securities are beneficially owned by fewer than 15 security holders in each jurisdiction of Canada.

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

General Motors Company applied for exemptive relief from the prospectus and registration requirements under the Securities Act to permit the posting of electronic roadshow materials on commercial websites during the waiting period of a cross-border offering.

The Ontario Securities Commission granted the relief, subject to conditions including the provision of a contractual right of action for Canadian purchasers in the event of a misrepresentation in the materials.

The applicant, Seven Seas Capital Management Inc., applied for exemptive relief from the mutual fund conflict of interest investment restrictions of the Securities Act and the self-dealing prohibition of National Instrument 31-103.

The relief was sought to permit pooled funds to invest with a fund-on-fund structure in other pooled funds, including limited partnerships.

The Ontario Securities Commission granted the requested relief, subject to conditions including that securities are distributed solely pursuant to prospectus exemptions and that no duplicative management or sales fees are payable.

The Manager and the Terminating Fund applied for exemptive relief under section 5.5(1)(b) of National Instrument 81-102 to approve the merger of the Terminating Fund into the Continuing Fund.

Approval was required because the merger did not meet all criteria for pre-approved reorganizations under section 5.6, specifically because it would not be a 'qualifying exchange' or tax-deferred transaction under the Income Tax Act, as the Terminating Fund did not qualify as a mutual fund trust.

The Ontario Securities Commission granted the requested exemptive relief, noting that unitholders were provided with timely and adequate disclosure and the merger would result in benefits such as tax qualification and cost savings.

The Filer, TD Split Inc., 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 exemptions, allowing the Filer to invest all its net assets in TD Bank Shares and modifying the requirements for calculating and paying retraction prices, filing compliance reports, and setting record dates.

The filers applied for exemptive relief from certain provisions of National Instrument 81-102 to permit their mutual funds to invest in silver, silver certificates, and specified derivatives underlying silver.

They also sought relief to invest up to 10% of net assets in leveraged, inverse, and commodity-based exchange-traded funds.

The principal regulator granted the requested exemptions, subject to conditions limiting the funds' total exposure to gold and silver products and underlying ETFs.

The applicant, West 49 Inc., applied to the Ontario Securities Commission and other jurisdictions for a decision that it is no longer a reporting issuer.

Following an arrangement where Aurora Inc. acquired all outstanding shares and subsequently amalgamated with the applicant, the applicant's securities were delisted and beneficially owned by fewer than 15 security holders in each jurisdiction.

Although the applicant was in default of certain interim filing obligations, the Commission granted the requested exemptive relief, determining the applicant is no longer a reporting issuer.

The Applicant, Public Storage Canadian Properties, applied for a decision under the securities legislation of multiple Canadian 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 a marketplace.

The Filer applied for exemptive relief from the prospectus requirement under section 53 of the Securities Act to permit the posting of electronic roadshow materials on commercial websites without restriction during the waiting period of a cross-border offering.

Compliance with U.S. securities laws required unrestricted access, which conflicted with Canadian requirements.

The Ontario Securities Commission granted the relief, subject to conditions including the provision of a contractual right of action for misrepresentation to Canadian purchasers.

The Filer, CFI Trust, applied for a decision under the securities legislation of multiple jurisdictions that it is not a reporting issuer.

The Filer's outstanding debt securities are beneficially owned by fewer than 51 security holders in Canada, and it has no issued and outstanding equity securities.

The Ontario Securities Commission, acting as the principal regulator, granted the requested exemptive relief, allowing the Filer to cease being a reporting issuer in all applicable jurisdictions.

The applicants, comprising four labour-sponsored investment funds and their manager, applied to the Ontario Securities Commission for approval to amalgamate into a single continuing fund under National Instrument 81-102.

They also sought an exemption from section 7.1 of NI 81-102 to allow the continuing fund to adopt a performance bonus plan incorporating features of the existing funds' plans, which were not based on a benchmark or index.

The Commission granted the requested amalgamation approval and performance bonus exemption, noting the amalgamation would provide greater portfolio diversification, improved liquidity, and reduced costs.

The Applicant applied for a decision under the securities legislation of multiple jurisdictions 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 its securities are not traded on a marketplace.

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

The Sprott Physical Silver Trust applied to the Ontario Securities Commission for exemptive relief under National Instrument 41-101.

The Trust sought relief from the prescribed headings and order of headings in Form 41-101F2, as well as an extension of the 90-day deadline to file a final prospectus after the receipt of a preliminary prospectus.

The Director granted both requests, permitting the prospectus format variations and extending the filing deadline to December 31, 2010.

The Filer applied to the Ontario Securities Commission for exemptive relief from the requirement to file a business acquisition report under Part 8 of National Instrument 51-102.

The Filer sought to exclude the depreciation of income-producing properties when applying the income test to determine the significance of a recent property portfolio acquisition.

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

The applicant, TD Asset Management Inc., applied for exemptive relief from sections 2.5(2)(a) and (c) of National Instrument 81-102 Mutual Funds.

The relief sought would permit the applicant's mutual funds to invest up to 10% of their net assets in leveraged ETFs, inverse ETFs, gold ETFs, and leveraged gold ETFs traded on Canadian or US stock exchanges.

The Ontario Securities Commission granted the requested relief, subject to certain conditions including investment limits and prospectus disclosure requirements.