OSC 2010

The applicant sought exemptive relief from the seed capital requirement under National Instrument 81-104 and the daily net asset value calculation requirement under National Instrument 81-106 for a commodity pool fund.

The relief was requested due to the fund's indirect exposure to another commodity pool that published its net asset value on a weekly basis.

The Ontario Securities Commission granted the requested relief, subject to conditions regarding the maintenance of seed capital and the frequency of net asset value calculations.

The applicant sought approval for an indirect change of control of the manager of the Primerica Concert Funds and an abridgement of the 60-day notice requirement to unitholders to 50 days.

The change of control resulted from an internal reorganization and subsequent initial public offering and private sale of shares.

The Ontario Securities Commission granted the requested relief, conditional on unitholders receiving at least 50 days' notice and no changes being made to the management and administration of the funds for at least 60 days following the notice date.

The Filers applied for exemptive relief from certain provisions of National Instrument 81-106 to permit continuing funds, following an amalgamation, to include the financial highlights and past performance of the corresponding existing funds in their annual and interim management reports of fund performance.

The Ontario Securities Commission granted the requested exemption, noting that the continuing funds would have the same investment objectives, strategies, and portfolio assets as the existing funds, and that the financial data of the existing funds would assist investors in making informed decisions.

The applicant, Invesco Trimark Ltd., applied for exemptive relief from the self-dealing provisions in subsection 4.2(1) of National Instrument 81-102.

The relief sought was to permit inter-fund trades of debt securities between mutual funds and pooled funds managed by the applicant.

The Ontario Securities Commission granted the exemption, provided that the independent review committee of each fund approves the trade and the trade complies with the conditions in subsection 6.1(2) of National Instrument 81-107.

The applicant, Invesco Trimark Ltd., applied for exemptive relief from the trading prohibition in section 13.5(2)(b) of National Instrument 31-103.

The relief sought would permit inter-fund trades between public mutual funds, pooled funds, and managed accounts managed by the applicant.

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

The applicants, TD Asset Management Inc. and TD Waterhouse Private Investment Counsel Inc., applied for an exemption from the requirement under clause 5.1(c) of National Instrument 81-102 to obtain prior unitholder approval before changing the fundamental investment objective of the TD Private Small/Mid-Cap Equity Fund.

All unitholders of the fund were clients who had entered into discretionary investment management agreements giving full discretionary authority to the portfolio manager.

The Ontario Securities Commission granted the exemption, noting that a unitholder meeting would represent an unnecessary expense and inconvenience given the discretionary nature of the accounts.

The applicants, a limited partnership and its promoter, applied to the Ontario Securities Commission for an exemption from the requirement to file an annual information form under section 9.2 of National Instrument 81-106.

The partnership had a short lifespan, all public units had been redeemed, and it was expected to be dissolved shortly.

The Commission granted the exemption, finding it was not against the public interest and would avoid imposing a material financial burden on the partnership.

The applicant, an investment fund, applied for exemptive relief from the requirement under National Instrument 81-106 to calculate its net asset value daily.

The fund uses specified derivatives and sought permission to calculate its net asset value on a weekly basis.

The Ontario Securities Commission granted the exemption, subject to the conditions that the fund's Class A units are listed on the TSX and that the net asset value is calculated at least weekly.

Broadview Press 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 its securities are not traded on a marketplace.

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

The Filer, Australian Solomons Gold Limited, applied for a decision that it is no longer a reporting issuer in Alberta, British Columbia, Manitoba, and Ontario.

Following a take-over bid and subsequent compulsory acquisition by Allied Gold Limited, the Filer became a wholly-owned subsidiary with no publicly held securities.

Although the Filer was in default of certain continuous disclosure obligations due to the timing of the compulsory acquisition, the Ontario Securities Commission, acting as principal regulator, granted the requested exemptive relief.

The applicant, a French corporation, applied for exemptive relief from the prospectus and dealer registration requirements of the Securities Act in connection with a global employee share offering.

The offering involved the use of French collective employee shareholding vehicles (FCPEs), preventing reliance on standard exemptions.

The Ontario Securities Commission granted the requested relief, subject to conditions regarding the first trade of the securities.

The Filer, a French issuer, applied for exemptive relief from the prospectus and dealer registration requirements of the Securities Act in connection with a global employee share offering.

The offering involved the use of collective employee shareholding vehicles (FCPEs) under French law.

The Ontario Securities Commission granted the requested relief, subject to conditions including resale restrictions and the provision of disclosure documents to Canadian participants.

The Filer, Compagnie de Saint-Gobain, applied to the Ontario Securities Commission for exemptive relief from the prospectus and dealer registration requirements in connection with a global employee share offering.

The offering involves the use of collective employee shareholding vehicles (FCPEs) under French law.

The Filer could not rely on the standard employee prospectus and registration exemptions because the shares were offered through the FCPEs rather than directly to the employees.

The Commission granted the requested relief, subject to conditions regarding the first trade of the securities.

The applicant sought exemptive relief under National Instrument 81-102 to approve a change of manager for a mutual fund.

The proposed change would result from the amalgamation of the current manager and the applicant.

The Ontario Securities Commission granted the approval, conditional upon the manager obtaining prior approval from the fund's securityholders at a special meeting and satisfying specific proxy solicitation and circular review requirements.

The applicants, a limited partnership and its promoter, applied to the Ontario Securities Commission for an exemption from the requirement to file an annual information form under National Instrument 81-106.

The partnership had a short lifespan, no secondary market, and all units held by public investors had been redeemed.

The Commission granted the exemption, noting that the partnership would still file annual financial statements and management reports of fund performance.

The Applicant, Sirit Inc., 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 necessary 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 applicant applied to the Ontario Securities Commission for exemptive relief under National Instrument 81-102.

The applicant sought approval for the merger of several mutual funds where the fundamental investment objectives and fee structures were not substantially similar.

The applicant also sought approval to suspend the redemption rights of the continuing funds for up to five business days following the mergers to facilitate operational steps.

The Commission granted the requested relief, finding that the mergers and temporary suspension of redemption rights were fair and reasonable.

The applicant, Goodman & Company, Investment Counsel Ltd., applied for exemptive relief from the self-dealing prohibitions in s. 13.5(2)(b)(iii) of National Instrument 31-103.

The relief was sought to permit the merger of several terminating non-redeemable investment funds into continuing mutual funds, all managed by the applicant.

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

The applicants, Manulife Financial Corporation and its subsidiaries, applied for exemptive relief under the Securities Act.

They sought an order designating Manulife Finance Holdings Limited as a reporting issuer upon its assumption of certain debt obligations, and an exemption from the prospectus requirement for the distribution of the new debt securities.

The Ontario Securities Commission granted the requested relief, subject to conditions including that the parent company continue to provide full and unconditional credit support for the debt securities.

The Applicant 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, and its securities are not traded on a marketplace.

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