NB Split Corp., 2012 CanLII 17026

Case Summary

The Applicant, NB Split Corp., applied for a decision under the securities legislation of multiple Canadian jurisdictions that it is no longer a reporting issuer. The Ontario Securities Commission granted the application, finding 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. Furthermore, the Applicant's securities are not traded on a marketplace, and it is not in default of any obligations as a reporting issuer.

Ontario Commission des P.O. Box 55, 19^th Floor CP 55, 19e étage

Securities valeurs mobilières 20 Queen Street West 20, rue queen ouest

Commission de l’Ontario Toronto ON M5H 3S8 Toronto ON M5H 3S8

Headnote National Policy 11-203 Process for Exemptive Relief Applications in Multiple Jurisdictions – Fund deemed to have ceased to be a reporting issuer – Fund meets requirements set out in CSA Staff Notice 12-307.

Applicable Legislative Provisions

Securities Act, R.S.O. 1990, c. S.5, as amended, s. 1(10) CSA Staff Notice 12-307 – Applications for a Decision that an Issuer is not a Reporting Issuer

March 20, 2012

NB Split Corp.

c/o Blake, Cassels & Graydon LLP

199 Bay Street

Suite 4000, Commerce Court West

Toronto, ON

M5L 1A9

Dear Sirs/Mesdames:

Re: NB Split Corp. (the Applicant) – Application for a decision under the securities legislation of all the provinces and territories of Canada (other than British Columbia) (the Jurisdictions) that the Applicant is not a reporting issuer

The Applicant has applied to the local securities regulatory authority or regulator (the Decision Maker) in each of the Jurisdictions for a decision under the securities legislation (the Legislation) of the Jurisdictions that the Applicant is not a reporting issuer.

As the Applicant has represented to the Decision Makers that:

(a) the outstanding securities of the Applicant, including debt securities, are beneficially owned, directly or indirectly, by fewer than 15 security holders in each of the jurisdictions in Canada and fewer than 51 security holders in total in Canada;

(b) no securities of the Applicant are traded on a marketplace as defined in National Instrument 21-101 Marketplace Operation;

(c) the Applicant is applying for a decision that it is not a reporting issuer in all of the jurisdictions in Canada in which it is currently a reporting issuer; and

(d) the Applicant is not in default of any of its obligations under the Legislation as a reporting issuer,

each of the Decision Makers is satisfied that the test contained in the Legislation that provides the Decision Maker with the jurisdiction to make the decision has been met and orders that the Applicant is not a reporting issuer.

“Darren McKall”

Darren McKall

Manager, Investment Funds Branch

Ontario Securities Commission