OSC 2014

Dominion Diamond Corporation applied to the Ontario Securities Commission for exemptive relief from the prohibition in section 2.3(1)(b) of National Instrument 43-101 against disclosing an economic analysis that includes inferred mineral resources.

The Filer sought to disclose an updated mine plan for the Ekati Diamond Mine that incorporates inferred resources from the Misery Satellite Pipes, as this reflects the actual operating plan.

The Commission granted the exemption, provided the Filer includes a cautionary statement regarding the uncertainty of inferred resources and accompanies the operating case with a base case economic analysis.

The applicant applied to the Ontario Securities Commission and other jurisdictions for a decision that it is no longer a reporting issuer.

The applicant had redeemed all its common shares, leaving a single shareholder and fewer than 51 securityholders worldwide.

Although the applicant was in default of its most recent interim filing obligations, the Commission granted the exemptive relief sought, allowing the applicant to cease being a reporting issuer.

The Filer, Arcadis N.V., applied to the Ontario Securities Commission for exemptive relief from the prospectus and dealer registration requirements of the Securities Act.

The relief was sought to allow the Filer to extend its global employee share offering to Canadian employees.

The Commission granted the requested relief, subject to conditions regarding the first trade of the shares.

The applicant applied to the securities regulatory authorities in Ontario and Alberta 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 application was granted, and the applicant was ordered not to be a reporting issuer.

The Filer applied for exemptive relief from the requirement in subsection 5.1(c) of National Instrument 81-102 to obtain securityholder approval before changing the fundamental investment objectives of two mutual funds.

The changes were prompted by amendments to the Income Tax Act (Canada) that eliminated tax benefits associated with Character Conversion Transactions.

The Ontario Securities Commission granted the exemption, provided that securityholders are sent written notice at least 60 days before the effective date of the change.

The applicants, TD Sponsored Companies Inc. and Timbercreek Asset Management Ltd., applied to the Ontario Securities Commission for approval of a change in the manager of three mutual funds pursuant to section 5.5(1)(a) of National Instrument 81-102.

Timbercreek agreed to acquire the rights to act as administrator and investment fund manager from TDSCI.

The Commission was satisfied that the test set out in the legislation was met and granted the requested approval.

The applicant investment fund manager sought exemptive relief under National Instrument 81-102 to approve the merger of a merging fund into a continuing fund.

The merger did not meet all criteria for pre-approved reorganizations because it would be effected on a taxable basis.

The principal regulator granted the requested relief, finding that the merger would result in a lower management expense ratio, increased economies of scale, and cost synergies for unitholders.

The Filer applied to the Ontario Securities Commission for exemptive relief from the requirement to deliver a Fund Facts document for purchases of mutual fund securities made pursuant to a pre-authorized investment plan.

The Commission granted the exemption, provided that investors receive the initial Fund Facts and a one-time notice explaining their rights, including the right to request subsequent Fund Facts and their misrepresentation rights.

Element Financial Corporation applied for an exemption from the financial statement requirements in Section 8.4 of National Instrument 51-102 for a business acquisition report related to the acquisition of railcars and leases.

The Filer proposed providing alternative financial information instead of historical financial statements, which were unavailable.

The Ontario Securities Commission granted the exemption, finding that the alternative financial information would provide investors with material information and that the exemption was not prejudicial to the public interest.

The Filer applied for exemptive relief on behalf of the ETF to change its fundamental investment objective without securityholder approval, following changes to the Income Tax Act regarding forward agreements.

The Filer also sought an extension of the lapse date for the ETF's current prospectus to allow time to finalize a new prospectus that would also qualify another fund.

The Ontario Securities Commission granted both requests, on the condition that securityholders be sent written notice of the investment objective change.

The Applicant 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 jurisdiction and fewer than 51 worldwide, and are not traded on any marketplace.

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

The Filer applied for exemptive relief under section 19.1 of National Instrument 81-102 to permit its mutual funds to invest in silver, silver derivatives, and certain exchange-traded funds (ETFs), including leveraged and inverse ETFs.

The principal regulator granted the requested relief, subject to conditions including limits on the percentage of net asset value that can be invested in these products and prospectus disclosure requirements.

The Filer applied for an exemption under section 19.1 of National Instrument 81-102 to permit the Fund to change its fundamental investment objective without obtaining prior unitholder approval.

The change was necessitated by federal tax amendments that eliminated the tax-advantaged nature of the Fund's forward agreements.

The Ontario Securities Commission granted the exemption, provided the Filer gives unitholders at least 60 days' written notice of the change and its reasons.

The Applicant applied for a decision under the securities legislation of multiple 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 its securities are not traded on any marketplace.

The Ontario Securities Commission granted the requested relief, ordering that the Applicant is not a reporting issuer.

The filer, 1832 Asset Management L.P., applied to the Ontario Securities Commission for exemptive relief to extend the lapse dates of the simplified prospectuses for two mutual funds.

The extension was sought to align the renewal dates with 102 other mutual funds managed by the filer, thereby reducing costs and administrative burden.

The Commission granted the relief, finding that the extension would not affect the accuracy of the information provided to investors or be prejudicial to the public interest.

The Manager applied for exemptive relief on behalf of a closed-end fund converting into an exchange-traded mutual fund.

The relief sought to permit the fund to invest up to 15% of its net assets in each of the 10 largest North American life insurance companies, contrary to the 10% concentration restriction in NI 81-102.

The Manager also sought relief to use the fund's pre-conversion performance data in sales communications.

The Ontario Securities Commission granted the requested relief, subject to conditions including disclosure in the prospectus.

The Applicant, a registered broker-dealer in the U.S., applied for exemptive relief from certain disclosure requirements under National Instrument 33-105 and OSC Rule 45-501 when offering foreign securities to Canadian permitted clients on a private placement basis.

The Commission granted the relief, allowing the Applicant to provide U.S. registered offering disclosure regarding underwriter conflicts of interest instead of the Canadian specific disclosure, and exempting the Applicant from including the statutory right of action disclosure in the offering memorandum, subject to certain conditions including providing a notice to clients.

The Filers applied for exemptive relief from certain prospectus incorporation by reference requirements under National Instrument 44-101.

Specifically, they sought an exemption from incorporating by reference certain non-essential Form 8-K reports filed by the Guarantor in the United States, which contain non-financial information such as legal opinions.

The Ontario Securities Commission granted the exemption, subject to conditions including that the Issuer files the non-essential 8-Ks on SEDAR at the same time or as soon as practicable after they are filed with the SEC.

The Filer applied for an exemption from the prospectus requirement in connection with the distribution of Class A Units that have been repurchased or redeemed by the Filer.

The Ontario Securities Commission granted the exemptive relief, permitting the resale of the units subject to conditions including compliance with National Instrument 45-102 and exchange regulations.

The Filer applied for exemptive relief under section 5.5(1)(b) of National Instrument 81-102 to permit the reorganization and termination of several mutual fund classes into continuing funds.

The reorganization was prompted by changes to the Income Tax Act affecting the tax treatment of derivative forward agreements.

The Ontario Securities Commission granted the requested relief, finding that the reorganization would benefit securityholders by providing a more tax-efficient fund with substantially similar investment objectives without increasing management fees.