OSC 2011

The applicant filed for exemptive relief from various continuous disclosure, certification, insider reporting, audit committee, corporate governance, and short form prospectus requirements to accommodate the issuance of exchangeable debentures by multiple indirect subsidiaries.

The applicant could not rely on the standard exemption for credit support issuers because it only owned 71% of an intermediate holding entity.

The Ontario Securities Commission granted the requested relief, subject to conditions including those relating to the minority interest in the holding limited partnership and the applicant's voting control.

The Filer applied for exemptive relief on behalf of several mutual funds from various provisions of National Instrument 81-102.

The requested relief included permission to engage in short selling, to allow a top fund to invest in a middle fund that obtains exposure to a bottom fund via a forward agreement, and to allow a money market class to invest in a money market fund.

The Ontario Securities Commission granted the requested exemptions subject to specific conditions, including limits on short selling and disclosure requirements.

The Applicant, Torque Energy Inc., applied to the Ontario Securities Commission for a decision that it is no longer a reporting issuer.

The Commission was satisfied that the Applicant met the statutory test, as its securities were beneficially owned by fewer than 51 security holders in Canada and were not traded on a marketplace.

The application was granted, and the Applicant was ordered to no longer be a reporting issuer.

CI Investments Inc. applied on behalf of Castlerock Mutual Funds for exemptive relief under Part 6 of National Instrument 81-101.

The applicant sought an exemption from General Instruction 8 to Form 81-101F3, which prohibits including unprescribed information, to allow the inclusion of fund codes in the Fund Facts document.

The Manager of the Investment Funds Branch granted the requested exemption, subject to the condition that the prospectus be filed by July 30, 2011.

CI Investments Inc. applied on behalf of United Funds for exemptive relief under Part 6 of National Instrument 81-101.

The applicant sought an exemption from General Instruction 8 to Form 81-101F3, which prohibits including unprescribed information, to allow the inclusion of fund codes in the Fund Facts document.

The Ontario Securities Commission granted the requested exemption, to be evidenced by the issuance of a receipt for the Fund's prospectus.

The Filer, a real estate investment trust, applied for exemptive relief from the requirement to file a business acquisition report under Part 8 of National Instrument 51-102 in connection with two property acquisitions.

Although the acquisitions were significant under the income test, they were not significant under the asset and investment tests.

The principal regulator granted the relief based on representations that the income test produced anomalous results and that the acquisitions were not significant from a practical, commercial, business, or financial perspective.

Canadian Imperial Bank of Commerce applied for exemptive relief under Part 6 of National Instrument 81-101.

The applicant sought an exemption from General Instruction 8 to Form 81-101F3, which prohibits including information not specifically prescribed by the Form, in order to include fund codes in the Fund Facts document.

The Ontario Securities Commission granted the requested exemption, subject to the condition that the prospectus be filed by a specified date.

The Applicant, Norsemont Mining Inc., 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 15 security holders in each jurisdiction and fewer than 51 in total in Canada, and its securities were not traded on a marketplace.

The order was granted, declaring the Applicant is not a reporting issuer.

The Applicant, Big Lots Canada, 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 are not traded on a marketplace.

The Applicant applied for a decision under the securities legislation of multiple Canadian jurisdictions that it is not a reporting issuer.

The Decision Maker was 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, Mackenzie Financial Corporation, applied for exemptive relief from the concentration restriction in subsection 2.1(1) of National Instrument 81-102 Mutual Funds on behalf of three mutual funds.

The relief sought to permit the funds to invest more than 10% of their net assets in debt securities issued by foreign governments or supranational agencies, subject to certain credit rating and market liquidity conditions.

The principal regulator granted the requested relief, finding it would better enable the funds to meet their fundamental investment objectives.

The Applicant, Creston Moly Corp., applied for an order to be deemed to have ceased to be a reporting issuer in Alberta, Manitoba, Ontario, and Nova Scotia.

The Applicant's outstanding securities were beneficially owned by fewer than 15 security holders in each jurisdiction and fewer than 51 in total in Canada.

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

The Applicant, TimberWest Forest Corp., 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 Manager applied for exemptive relief on behalf of various mutual funds from certain provisions of National Instrument 81-102.

The requested relief included exemptions to permit interest rate and credit derivative swaps with terms greater than three years, to allow the use of certain fixed income securities and money market funds as cash cover, to permit the use of put options to cover long positions in futures, forwards, and swaps, and to allow global bond funds to invest more than 10% of their net assets in foreign government or supranational agency debt.

The Ontario Securities Commission granted the requested relief subject to specific conditions.

The applicant, a reporting issuer with activities subject to rate regulation, applied to the Ontario Securities Commission for exemptive relief from the requirement under National Instrument 52-107 to prepare its financial statements in accordance with Canadian GAAP.

The applicant sought permission to prepare its financial statements in accordance with U.S. GAAP for financial years beginning between January 1, 2012, and January 1, 2015.

The Commission granted the requested exemption, provided the applicant files its financial statements and comparative periods in accordance with U.S. GAAP.

The applicant, a reporting issuer with activities subject to rate regulation, applied for exemptive relief from the requirement to prepare its financial statements in accordance with Canadian GAAP applicable to publicly accountable enterprises.

The principal regulator granted the exemption, permitting the applicant to prepare its financial statements in accordance with U.S. GAAP for financial years beginning on or after January 1, 2012, but before January 1, 2015.

The Filer applied for exemptive relief from the requirement under section 3.2 of National Instrument 52-107 to prepare its financial statements in accordance with Canadian GAAP.

The Filer sought permission to prepare its financial statements and those of its significant equity investee in accordance with U.S. GAAP for financial years beginning between January 1, 2012, and January 1, 2015.

The Ontario Securities Commission granted the exemption, noting that both entities have activities subject to rate regulation and that U.S. GAAP accords similar treatment to such activities as Canadian GAAP.

The applicant real estate investment trust applied for exemptive relief from the requirement to file a business acquisition report under Part 8 of National Instrument 51-102 following its acquisition of a medical office complex.

Although the acquisition was not significant under the asset and investment tests, it triggered the income test.

The applicant submitted that the income test produced anomalous results that exaggerated the significance of the acquisition.

The principal regulator granted the requested relief based on representations that the acquisition was not significant from a practical, commercial, business, or financial perspective.

The applicants, Fidelity Investments Canada ULC and several mutual funds, applied for exemptive relief from the related shareholder and related party investment prohibitions under the Securities Act.

The relief was sought to permit the funds to purchase long-term debt securities of related entities under primary and secondary offerings, including debt securities of product-linked shareholders invested in the funds for hedging purposes.

The Ontario Securities Commission granted the requested relief, subject to conditions including independent review committee approval, pricing requirements, and limits on the amount of securities purchased in primary offerings.

Allied Gold Limited 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 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 securities legislation.

The decision maker granted the requested relief, ordering that the applicant is not a reporting issuer.