OSC 2014

The applicant, an investment fund manager, applied to the Ontario Securities Commission for approval of an indirect change of control under subsection 5.5(1)(a.1) of National Instrument 81-102.

The change of control arose from the acquisition of the applicant's parent company by the London Stock Exchange Group plc.

The Commission granted the approval, noting that the transaction would not result in any material changes to the business or operations of the investment funds managed by the applicant.

The Applicant 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 securityholders in each Canadian jurisdiction and fewer than 51 worldwide, and its securities are not traded on any marketplace.

The Commission was satisfied that the statutory test was met and ordered that the Applicant is not a reporting issuer.

The Filer, an Australian company primarily engaged in potash exploration, applied for a decision that it is no longer a reporting issuer in the Jurisdictions.

The Filer's ordinary shares were voluntarily delisted from the TSX and it has no operations in Canada.

The Filer demonstrated that Canadian residents beneficially own less than 2% of its outstanding shares and comprise less than 2% of its worldwide securityholders.

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

The Filer applied on behalf of the Fund for exemptive relief from the requirement under NI 81-102 to obtain prior securityholder approval before changing the fundamental investment objective of the Fund.

The change was necessitated by federal budget amendments eliminating tax benefits associated with Character Conversion Transactions.

The principal regulator granted the requested exemption, provided that securityholders are sent written notice at least 60 days before the effective date of the change.

The Filer, Chop Exploration Inc., applied for a decision under the securities legislation of Ontario and Alberta that it is not a reporting issuer.

The Filer had previously filed a prospectus for an initial public offering but never completed it due to adverse market conditions.

The Filer has 45 securityholders and its securities are not traded on any marketplace.

The Ontario Securities Commission, as principal regulator, granted the exemptive relief sought, determining that the Filer is no longer a reporting issuer.

The Filer applied for exemptive relief from the conflict of interest provisions of National Instrument 31-103 to permit the merger of the Terminating Fund into the Continuing Fund.

The Filer acts as the manager and portfolio manager for both funds.

The principal regulator granted the exemption, provided that the board of directors of the manager determines the merger is in the best interests of the funds and approves it prior to completion.

The Filer, Northampton Group Inc., applied for a decision under the securities legislation of British Columbia, Alberta, and Ontario that it is not a reporting issuer.

Following a statutory plan of arrangement, all outstanding shares of the Filer were acquired by another entity, and its common shares were delisted from the TSX Venture Exchange.

The Filer's securities are beneficially owned by fewer than 15 security holders in each Canadian jurisdiction and fewer than 51 worldwide.

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

The Applicant, FortisBC Holdings Inc., applied for a decision under the securities legislation of multiple Canadian jurisdictions that it is no longer 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 not a reporting issuer.

PIMCO Canada Corp. applied for exemptive relief from the inter-fund trading prohibitions in National Instrument 81-102 and National Instrument 31-103.

The relief sought to permit mutual funds, closed-end funds, pooled funds, and managed accounts to engage in inter-fund trades of debt and equity securities, and to permit in specie subscriptions and redemptions.

The Ontario Securities Commission granted the requested relief, subject to conditions including independent review committee approval and compliance with pricing and record-keeping requirements.

The Applicant, Granite Europe Limited Partnership, 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, its securities are not traded on any marketplace, and it is not in default of its obligations as a reporting issuer.

The Decision Makers were satisfied that the statutory test was met and ordered that the Applicant is not a reporting issuer.

The applicant, Granite Real Estate Inc., applied to the securities regulatory authorities in multiple Canadian 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 securityholders in each Canadian jurisdiction and fewer than 51 worldwide, and that its securities are not traded on any marketplace.

The Ontario Securities Commission, satisfied that the statutory test was met, granted the application and ordered that the applicant is not a reporting issuer.

The Filer, Pattern Energy Group Inc., applied to the Ontario Securities Commission for an exemption from the prospectus requirement under the Securities Act.

The exemption was sought to permit investment dealers to use standard term sheets, marketing materials, and conduct road shows in connection with future offerings under a final Canadian MJDS shelf prospectus.

The Commission granted the requested exemptive relief, provided that the conditions and requirements set out in Part 9A of National Instrument 44-102 are complied with.

The Applicant 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 securityholders in each Canadian jurisdiction and fewer than 51 worldwide, and that its securities are not traded on any marketplace.

The decision maker was satisfied that the statutory test was met and ordered that the Applicant is not a reporting issuer.

The Filers applied for exemptive relief from the Related Issuer Requirements of NI 81-102 to allow their dealer-managed investment funds to invest in non-exchange-traded debt securities of Related Issuers in a Primary Offering and in the secondary market.

The Ontario Securities Commission granted the exemption, subject to conditions including that the securities have a designated rating, the independent review committee approves the transactions, and specific pricing and sizing limits are met.

The applicants, on behalf of various mutual funds and pooled funds, applied for exemptive relief from the Related Securityholder Requirements and Related Issuer Requirements.

The relief sought to permit the funds to invest in non-exchange-traded debt securities of related issuers in primary offerings and the secondary market, provided the securities have a designated rating.

The Ontario Securities Commission granted the requested relief, subject to conditions including independent review committee approval and pricing requirements.

Fidelity Investments Canada ULC applied for exemptive relief from the multi-layering prohibition in paragraph 2.5(2)(b) of National Instrument 81-102.

The relief sought to permit certain top funds to invest in reference funds, which in turn invest more than 10% of their net asset value in third-tier funds.

The Ontario Securities Commission granted the exemption, finding that the three-tier structure is akin to permitted structures, reduces tracking error, and does not result in duplication of fees, provided the top funds disclose the reference funds in their investment objectives.

The applicant sought an exemption from the prospectus requirements under Ontario securities legislation in connection with a spin-off transaction.

The transaction involved the distribution of shares of a wholly-owned subsidiary to the applicant's shareholders by way of a dividend in specie.

The Ontario Securities Commission granted the exemptive relief, provided that the first trade in the distributed shares is deemed a distribution unless certain resale conditions are met.

The Filer, ISG Capital Corporation, applied to the Ontario Securities Commission for a decision that it is no longer a reporting issuer.

Following a corporate arrangement, the Filer became a wholly-owned subsidiary of Firm Capital Property Trust, and its securities were delisted and are beneficially owned by fewer than 15 securityholders in each jurisdiction.

The Commission granted the requested exemptive relief, determining that the Filer is not a reporting issuer.

The Filer applied for exemptive relief under National Instrument 81-102 to permit the reorganization of several mutual funds without prior securityholder approval, and to allow certain funds to invest in other funds in a three-tier structure during an interim period.

The Ontario Securities Commission granted the requested relief, subject to conditions including independent review committee approval and the provision of detailed notices to securityholders.

The Filer applied for exemptive relief from the requirement under National Instrument 81-102 to obtain prior securityholder approval to change the fundamental investment objectives of three mutual funds.

The changes were necessitated by amendments to the Income Tax Act that eliminated the favourable tax treatment of derivative forward agreements used by the funds.

The Ontario Securities Commission granted the relief, provided the Filer sends written notice to securityholders at least 60 days before the effective date of the changes.