OSC 2010

Sentry Select Capital Inc. applied for exemptive relief from sections 2.5(2)(a) and (c) of National Instrument 81-102 Mutual Funds.

The relief was sought to permit the mutual funds managed by the applicant 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 exemption, subject to certain conditions including prospectus disclosure and investment limits.

The applicants, affiliated portfolio managers, applied to the Ontario Securities Commission for exemptive relief from the cross-trading prohibitions in section 13.5(2)(b) of National Instrument 31-103.

The relief was sought to permit in specie transfers of securities between separately managed accounts, pooled funds, and mutual funds managed by the applicants.

The Commission granted the exemption, subject to several conditions including independent review committee approval for mutual funds, client consent for managed accounts, and valuation requirements to ensure the transfers are executed at the applicable net asset value.

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

The Filer's shareholders voted to authorize voluntary dissolution, its securities were delisted from the TSX Venture Exchange, and it has no intention to seek public financing.

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

Navina Asset Management Inc. applied for exemptive relief on behalf of the Navina Global Resource Fund, a closed-end investment trust converting into an open-end mutual fund.

The applicant sought relief from certain provisions of National Instrument 81-102 regarding seed capital requirements, prospectus costs, and the use of pre-conversion performance data in sales communications.

Additionally, the applicant sought relief to permit the converted mutual fund to engage in short selling up to 20% of its net assets.

The Ontario Securities Commission granted the requested relief, subject to specific conditions regarding short selling controls, cash cover, and disclosure requirements.

Franklin Templeton Investments Corp. applied for exemptive relief from subsection 5.1(a) of National Instrument 81-105 to permit it to pay participating dealers direct costs for Cooperative Marketing Initiatives whose primary purpose is providing educational information concerning tax or estate planning matters.

The Ontario Securities Commission granted the exemption, subject to conditions including that the information provided is general, no sales are required, and the exemption expires in two years.

The applicants, registered advisers and investment fund managers, applied to the Ontario Securities Commission for exemptive relief from the trading prohibition in section 13.5(2)(b) of National Instrument 31-103.

The relief sought to permit inter-fund trades between public mutual funds, non-redeemable investment funds, pooled funds, and managed accounts.

The Commission granted the exemption, subject to conditions including independent review committee approval or client consent, and compliance with pricing and transparency requirements under National Instrument 81-107.

AGF Funds Inc. applied for exemptive relief from sections 2.5(2)(a) and (c) of National Instrument 81-102 to permit its 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 relief, subject to conditions including that the investments align with the funds' fundamental investment objectives, the funds do not short sell the ETFs, and the prospectuses disclose the relief and associated risks.

The applicants, Sentry Select Capital Inc. and Sentry Select Investments Inc., applied for exemptive relief from the trading prohibition in section 13.5(2)(b) of National Instrument 31-103.

The relief sought to permit inter-fund trades between public mutual funds, non-redeemable investment funds, pooled funds, and managed accounts.

The Ontario Securities Commission granted the relief, subject to conditions including independent review committee approval or client consent, and specific pricing and transparency requirements.

The applicants, Sentry Select Capital Inc. and Sentry Select Investments Inc., applied for exemptive relief from the self-dealing provisions of National Instrument 81-102.

The relief sought to permit inter-fund trades in debt securities between mutual funds, pooled funds, and closed-end funds managed by the same manager or an affiliate.

The Ontario Securities Commission granted the relief, subject to conditions including independent review committee approval and compliance with National Instrument 81-107.

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

The Filer argued that applying the Income Test without excluding depreciation of income-producing properties produced anomalous results compared to other significance tests.

The Ontario Securities Commission granted the relief, permitting the Filer to exclude depreciation when calculating significance for two recent acquisitions.

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 argued that applying the Income Test without excluding depreciation of income-producing properties produced anomalous results compared to other significance tests.

The Commission granted the relief, permitting the Filer to exclude depreciation when calculating significance for two recent property acquisitions.

The applicant, Sentry Select Capital Inc., applied for exemptive relief under National Instrument 81-102 to merge several terminating mutual funds into continuing mutual funds.

Approval was required because the mergers did not meet all criteria for pre-approval, specifically regarding differences in fundamental investment objectives and the tax-deferred status of certain mergers.

The Ontario Securities Commission granted the requested relief, finding that the mergers would achieve a fair and reasonable result for the funds and that securityholders were provided with adequate disclosure.

The Applicant, Silver Creek-Cedarwood Partnership, 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 Canada, its securities are not traded on a marketplace, and it is not in default of its obligations.

The Decision Maker granted the requested relief, ordering that the Applicant is no longer a reporting issuer.

The applicant, Oculus Ventures Corporation, applied for exemptive relief from certain financial disclosure requirements under NI 51-102 and NI 52-107 in connection with a proposed reverse takeover transaction.

The target companies did not meet the definition of a junior issuer due to a change in their financial year end.

The Ontario Securities Commission granted the requested relief, exempting the applicant from the audit requirement for the third most recently completed financial year and permitting a reservation regarding opening inventory in the auditor's report for the second most recently completed financial year.

The applicants, Prime Restaurants Royalty Income Fund and Prime Restaurants Inc., applied for exemptive relief from the requirements under National Instrument 41-101, National Instrument 51-102, and OSC Rule 56-501 to use prescribed restricted security terms when referring to their class A and class B limited voting shares.

They also sought relief from prospectus and private placement requirements for future distributions of these shares and class C non-voting shares.

The Ontario Securities Commission granted the requested relief, subject to the condition that the shares be referred to as 'Class A Limited Voting Shares' and 'Class B Limited Voting Shares', and that any subsequent restricted security reorganizations comply with the applicable rules.

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

The Filer, Karmin Exploration Inc., applied for exemptive relief from the requirements of National Instrument 52-107 to prepare its financial statements and pro forma financial statements in accordance with Canadian GAAP.

The Filer proposed to complete a reverse take-over transaction with a foreign issuer that prepares its financial statements in accordance with IFRS-IASB.

The Ontario Securities Commission granted the requested relief, permitting the Filer to prepare its financial statements and pro forma financial statements in accordance with IFRS-IASB, subject to certain conditions.

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 less than 51 in total in Canada, and its securities are not traded on a marketplace.

The Ontario Securities Commission granted the order, finding that the test contained in the legislation was met.

Metallic Ventures Gold Inc. applied for an order under the Securities Act that it is no longer a reporting issuer in the applicable jurisdictions.

The Filer was acquired by International Minerals Corporation through a statutory plan of arrangement, resulting in its outstanding securities being beneficially owned by fewer than 15 security holders in each Canadian jurisdiction.

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

The Filer, Tricon Capital Group Inc., applied for exemptive relief from the requirement in section 3.1 of National Instrument 52-107 to prepare its financial statements in accordance with Canadian GAAP.

The Filer sought to prepare its financial statements using International Financial Reporting Standards (IFRS) for periods beginning on or after January 1, 2010.

The Ontario Securities Commission granted the exemption, noting the Filer had assessed the readiness of its staff, board, auditors, and investors for the early adoption of IFRS.