OSC 2011

First National Financial Corporation applied for an exemption from the requirement under National Instrument 44-101 to file a notice of intention at least 10 business days prior to filing a preliminary short form prospectus.

The applicant is a successor issuer to a fund that was already qualified to file a short form prospectus.

The Ontario Securities Commission granted the exemption, noting that the applicant's continuous disclosure record is that of the predecessor fund.

The filer, Allbanc Split Corp. II, applied to the Ontario Securities Commission for exemptive relief from sections 10.3 and 10.4(1) of National Instrument 81-102.

The relief was sought to permit the filer to calculate and pay the retraction price for its Series 1 Preferred Shares on a schedule different from the standard mutual fund requirements.

The Commission granted the requested relief, allowing the filer to calculate the retraction price on the applicable Valuation Date and pay it on the Retraction Payment Date as described in its preliminary prospectus.

The Manager applied on behalf of the Fund for exemptive relief from subsection 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, permitting the final prospectus to be filed no later than March 31, 2011.

The filers applied for exemptive relief from certain requirements of National Instrument 44-102 and National Instrument 44-101 to permit the filing of a shelf prospectus and prospectus supplements qualifying for distribution strip residuals, strip coupons, and strip packages derived from debt obligations of Canadian corporations and trusts.

They also sought relief from the requirements that the prospectus contain a certificate of the underlying issuer and incorporate by reference documents of the underlying issuer.

The principal regulator granted the requested exemptions, subject to certain conditions regarding the underlying obligations and continuous disclosure.

The Filer applied for exemptive relief on behalf of several mutual funds to permit them to invest in unrated debt securities of Viterra Inc. during a distribution in which an affiliate of the Filer acted as an underwriter.

The Ontario Securities Commission granted the relief, finding that the investment was consistent with the funds' objectives and subject to independent review committee approval.

The relief was conditioned on the funds paying no more than the lowest price paid by arm's length purchasers and acquiring no more than 20% of the distributed securities.

Barclays Bank PLC applied for exemptive relief from the qualification requirements under National Instrument 44-102 to distribute non-principal protected Notes by short form prospectus.

The Filer satisfied all basic qualification criteria except having its equity securities listed on a short-form eligible exchange.

The principal regulator granted the exemption, subject to conditions including specific cover page disclosure regarding the unrated nature of the non-principal protected Notes and the risks involved.

The Filer, a U.S. multi-national corporation, applied for a decision that it is no longer a reporting issuer in British Columbia, Alberta, Ontario, and Québec.

The Filer became a reporting issuer following its acquisition of Freewest Resources Canada Inc. but has a de minimis market presence in Canada, with Canadian residents holding less than 0.004% of its outstanding common shares.

The Filer's securities are not traded on any Canadian marketplace, and it has no intention to distribute securities to the public in Canada.

The Ontario Securities Commission, acting as principal regulator, granted the requested relief, noting that Canadian securityholders will continue to have access to the Filer's U.S. continuous disclosure documents.

Skyberry Capital Corp. applied for exemptive relief from the requirement to file audited annual financial statements for Lipari Coal Holdings, Inc. for the years ended December 31, 2008 and 2007, in connection with a proposed reverse take-over transaction.

The target company was unable to provide the specified historical financial statements despite reasonable efforts, and its auditors confirmed that an audit would be extremely difficult if not impossible.

The Ontario Securities Commission granted the exemption, subject to the condition that the filing statement contains alternative financial disclosure and that the filing statement and a technical report are filed on SEDAR.

The Applicant, CIT Holdings, LLC, applied to the securities regulatory authorities in Ontario, Alberta, Saskatchewan, and Nova Scotia 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 Ontario Securities Commission granted the requested relief, ordering that the Applicant is not a reporting issuer.

The Filer, Chieftain Metals Inc., applied for exemptive relief to early adopt International Financial Reporting Standards (IFRS) for its financial statements for periods relating to financial years beginning on or after October 1, 2010, instead of Old Canadian GAAP.

The Ontario Securities Commission granted the exemption, noting the Filer had already prepared its prospectus financial statements in accordance with IFRS and had assessed the readiness of its staff, board, and auditors.

The Filer, a real estate investment trust, applied for exemptive relief from the requirement under Section 8.4 of National Instrument 51-102 to include certain historical financial statements in its business acquisition report following a significant acquisition.

The Filer lacked access to the historical accounting records necessary to audit the combined financial statements for the acquired properties.

The Ontario Securities Commission granted the relief, permitting the Filer to include alternative financial statements as previously cleared in a prospectus.

The Applicant applied to the Ontario Securities Commission and the Alberta 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 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.

The Filers applied for approval of a change of control of Acuity Funds Ltd., a mutual fund manager, to AGF Management Limited under section 5.5(2) of National Instrument 81-102.

The Ontario Securities Commission granted the exemptive relief, noting that there are no current plans to change the manager of the funds or amalgamate the current manager for the foreseeable future.

The applicant, Goodman & Company, Investment Counsel Ltd., applied for exemptive relief on behalf of several mutual funds from the investment prohibition in section 4.1(1) of NI 81-102.

The relief was sought to permit the funds to invest in debt securities of Vermilion Energy Inc. during the distribution period or the 60-day period following, despite the involvement of an affiliated underwriter and the securities lacking an approved rating.

The principal regulator granted the relief, subject to conditions including independent review committee approval, arm's length participation, and pricing restrictions.

NexGen Financial Limited Partnership applied for exemptive relief from the conflict of interest provisions in section 13.5(2)(a) of National Instrument 31-103.

The relief was sought to permit an open-ended mutual fund to acquire the securities of a closed-end fund as part of a merger, where both funds are advised by the same portfolio manager.

The Ontario Securities Commission granted the exemption, noting that the merger would benefit securityholders through improved economies of scale and that the manager would bear all costs of the merger.

The Filer applied for an exemption from the investment restrictions in sections 2.1(1), 2.2, and 2.4 of National Instrument 81-102 to permit a continuing open-ended mutual fund to temporarily purchase securities of a terminating closed-end fund in connection with a merger.

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

The Filer, an investment company, applied for exemptive relief from the requirements to adopt International Financial Reporting Standards (IFRS) for its financial years ending March 31, 2012, and March 31, 2013.

The Canadian Accounting Standards Board had deferred the mandatory adoption of IFRS for investment companies to January 1, 2013.

The Ontario Securities Commission granted the requested relief, allowing the Filer to continue filing financial statements in accordance with old Canadian GAAP for the deferred financial years, subject to certain conditions.

The applicant applied for exemptive relief from the requirement in section 4.2(1) of National Instrument 52-107 that its financial statements be prepared in accordance with Canadian GAAP.

The applicant sought to prepare its financial statements in accordance with International Financial Reporting Standards (IFRS) for periods beginning on or after July 1, 2010.

The principal regulator granted the exemption, permitting the early adoption of IFRS subject to compliance with Part 3 of NI 52-107.

The Filer, a junior exploration company, applied for exemptive relief from the requirement under section 4.2(1) of National Instrument 52-107 to prepare its financial statements in accordance with Canadian GAAP.

The Filer sought to early adopt International Financial Reporting Standards (IFRS) for periods beginning on or after September 1, 2010, having already prepared its prospectus financial statements under IFRS.

The Ontario Securities Commission granted the exemption, noting the Filer's readiness and the inefficiencies of reverting to Canadian GAAP before the mandatory IFRS changeover date.

Globestar Mining Corporation 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 jurisdiction in Canada and fewer than 51 in total, and that 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.