Ontario Securities Commission

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.

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 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.

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.

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 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 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.

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 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 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.

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 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.

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 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 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.