OSC 2012

The Filer, a special purpose entity that issues credit card receivables-backed notes, applied to the Ontario Securities Commission for an order to cease being a reporting issuer in all applicable Canadian jurisdictions.

The Filer has no outstanding common shares and its issued notes are held by sophisticated investors or on a private placement basis.

The Commission granted the order, satisfied that the statutory test was met, and the Filer will no longer be a reporting issuer in Canada.

The applicants, Granite Real Estate Investment Trust and Granite REIT Inc., applied to the Ontario Securities Commission for exemptive relief from certain provisions of National Instrument 44-102 regarding shelf distributions.

The applicants sought relief from the requirement to have current annual financial statements and an annual information form to file a short form base shelf prospectus, relying instead on combined financial statements and a single annual information form due to their stapled unit structure.

The Commission granted the requested relief, subject to conditions including that the stapled structure remains in place and that the applicants continue to comply with previously granted continuous disclosure exemptions.

The applicant, ONE Financial Corporation, applied for exemptive relief on behalf of several commodity pools from certain provisions of National Instrument 81-102.

The relief sought to permit the funds to invest in or gain exposure to underlying investment pools in a fund-of-funds structure.

The Ontario Securities Commission granted the requested relief, subject to conditions including that the investments align with the funds' fundamental investment objectives and that the underlying pools comply with applicable continuous disclosure requirements.

The Filer, Eloqua, Inc., applied for a decision to be deemed to cease to be a reporting issuer in the Jurisdictions following a merger with an indirect wholly owned subsidiary of Oracle Corporation.

As a result of the merger, all securities of the Filer are beneficially owned by fewer than 15 securityholders in each Canadian jurisdiction.

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

The filer, 360 VOX Corporation, applied for exemptive relief from the requirement to include certain financial statements of acquired holding companies in its business acquisition report (BAR).

The Ontario Securities Commission granted the relief, provided the BAR includes the financial statements of the underlying operating entity and the pro forma financial statements of the filer after giving effect to the acquisition.

RBC Global Asset Management Inc. applied for exemptive relief on behalf of its mutual funds from certain provisions of National Instrument 81-102.

The requested relief would permit the funds to invest in physical silver, permitted silver certificates, silver derivatives, and certain exchange-traded funds (including leveraged, inverse, and commodity ETFs) that are not index participation units.

The Ontario Securities Commission granted the exemption, subject to conditions limiting the funds' exposure to these investments and requiring the investments to align with the funds' fundamental investment objectives.

The applicant, a U.S. public company, applied for exemptive relief from the prospectus and dealer registration requirements of the Securities Act in connection with a spin-off transaction.

The transaction involved the distribution of shares, options, and restricted stock units of its subsidiary to Canadian shareholders and employees.

The Ontario Securities Commission granted the requested relief, noting that the applicant has a de minimis presence in Canada and the distributions required no investment decision from Canadian shareholders.

The Filer, an investment company, applied to the Ontario Securities Commission for a variation of a prior exemption order.

The variation sought to extend the deferral of the requirement to adopt International Financial Reporting Standards (IFRS) for an additional year, allowing the Filer to continue preparing its financial statements in accordance with pre-changeover Canadian GAAP for its financial year ending December 31, 2013.

The Commission granted the requested relief, subject to conditions, aligning with the Canadian Accounting Standards Board's decision to further defer IFRS adoption for investment companies.

The applicant, Beutel Goodman Managed Funds Inc., applied for exemptive relief on behalf of three mutual funds to permit the inclusion of past performance data from the period before the funds became reporting issuers in their sales communications, fund facts, and management reports of fund performance.

The funds had previously distributed securities under prospectus exemptions and had complied with the investment restrictions in NI 81-102 since their inception.

The Ontario Securities Commission granted the requested relief, subject to conditions requiring disclosure that the funds were not reporting issuers during the relevant periods and that expenses would have been higher had they been subject to reporting issuer requirements.

The applicant sought exemptive relief in connection with a proposed reorganization into a stapled unit real estate investment trust structure.

The applicant requested exemptions from certain financial statement requirements for its management information circular, specifically to provide combined rather than separate pro forma financial statements for the newly formed entities, and to prepare and audit certain financial information in accordance with U.S. GAAP and U.S. PCAOB GAAS instead of IFRS and Canadian GAAS.

The Ontario Securities Commission granted the requested exemptions, finding that the circular would provide sufficient information for shareholders to make an informed decision.

The applicant sought approval under subsection 5.5(1)(b) of National Instrument 81-102 for the merger of two terminating mutual funds into a continuing fund.

Approval was required because the merger did not meet all pre-approval criteria, specifically as one terminating fund had different investment objectives than the continuing fund, and the merger was not a qualifying exchange under the Income Tax Act.

The Ontario Securities Commission granted the requested approval, noting that securityholders were provided with timely and adequate disclosure and had approved the merger.

The applicant sought exemptive relief under National Instrument 81-102 to approve the merger of the Brigata Canadian Equity Fund into the Brigata Canadian Balanced Fund.

Approval was required because the fundamental investment objectives of the two funds were not substantially similar, meaning the merger did not meet the criteria for pre-approval.

The Principal Regulator granted the requested exemption, allowing the merger to proceed on a tax-deferred basis.

The applicant applied for exemptive relief on behalf of three mutual funds to permit them to include past performance data and financial highlights from the period before they became reporting issuers in their sales communications, fund facts, and management reports of fund performance.

The Ontario Securities Commission granted the relief, noting that the funds had complied with the investment restrictions in NI 81-102 since inception, were managed substantially similarly before and after becoming reporting issuers, and that the historical performance data was relevant and useful information for investors.

The Filer, an investment company, applied to the Ontario Securities Commission for a variation of a prior exemption order.

The variation sought to extend the Filer's deferred financial years for an additional year, allowing it to continue filing financial statements in accordance with pre-changeover Canadian GAAP rather than adopting International Financial Reporting Standards (IFRS).

The Commission granted the requested relief, subject to several conditions, aligning with the Canadian Accounting Standards Board's decision to further defer the mandatory adoption of IFRS for investment companies to January 1, 2014.

The Applicant, Scotiabank Subordinated Notes Trust, applied to the securities regulatory authorities in multiple Canadian jurisdictions for a decision that it is not a reporting issuer.

The Applicant represented that its outstanding securities are beneficially owned by fewer than 15 securityholders in each Canadian jurisdiction and fewer than 51 worldwide, and that its securities are not traded on any marketplace.

The Ontario Securities Commission granted the application, ordering that the Applicant is no longer a reporting issuer.

The Filer, on behalf of a newly formed real estate investment trust and a corporation, applied for exemptive relief from various continuous disclosure, corporate governance, certification, and prospectus requirements under Ontario securities legislation.

The relief was sought in connection with a proposed reorganization into a 'stapled unit' structure, where units of the trust and the corporation would trade together.

The Ontario Securities Commission granted the requested exemptions, subject to several conditions, including that the entities file combined financial statements and that the units remain stapled.

The filer, Sierra Metals Inc., applied for exemptive relief from the requirement in the definition of 'venture issuer' that a reporting issuer not have any of its securities listed or quoted on a marketplace outside of Canada and the United States.

The filer sought this relief because its shares were listed on the Risk Capital Segment of the Lima Stock Exchange in Peru.

The Ontario Securities Commission granted the exemption, noting that the Lima Venture Exchange is a junior market with requirements modeled after the TSX Venture Exchange, provided the filer continues to have its shares listed on the TSXV and meets other conditions.

NAV CANADA applied for exemptive relief to extend the deferral of the mandatory changeover date to International Financial Reporting Standards (IFRS) for an additional year.

As a rate-regulated entity, the applicant sought to continue filing financial statements in accordance with pre-changeover Canadian GAAP for its financial year ending August 31, 2014.

The Ontario Securities Commission granted the relief, subject to conditions, aligning with the Canadian Accounting Standards Board's decision to defer IFRS adoption for rate-regulated entities to January 1, 2014.

The applicant, a limited partnership providing services to a law firm, applied for exemptive relief from the registration and prospectus requirements under the Securities Act.

The relief was sought in connection with the issuance of limited partnership units to family trusts established for the benefit of the law firm's partners and their eligible family members.

The Ontario Securities Commission granted the requested relief, subject to conditions including restrictions on the transferability of the units and requirements to provide financial statements and obtain written acknowledgements from the trustees.

The Filer applied on behalf of itself and two newly formed limited partnerships for exemptive relief from continuous disclosure, certification, audit committee, corporate governance, and insider reporting requirements under various National Instruments.

The application was made in connection with a conversion transaction to a stapled unit real estate investment trust structure.

The Ontario Securities Commission granted the requested exemptions, subject to conditions including that the stapled structure remains in place and the entities comply with modified credit support issuer conditions.

The Commission also granted an order designating the two limited partnerships as reporting issuers in Ontario.