Ontario Securities Commission

The Filer applied for exemptive relief from the inter-fund trading prohibition in subparagraph 13.5(2)(b)(iii) of National Instrument 31-103 to permit the merger of the Terminating Fund into the Continuing Fund.

The merger was proposed to streamline product offerings and allow the Continuing Fund to qualify as a mutual fund trust under the Income Tax Act.

The Ontario Securities Commission granted the requested exemption, finding that the merger was in the best interests of the unitholders and that potential conflicts of interest had been adequately addressed.

HeartWare International, Inc. applied to the Ontario Securities Commission for an order to cease being a reporting issuer in all Canadian jurisdictions where it held that status.

Following its acquisition by Medtronic, Inc., the applicant's outstanding securities were beneficially owned by fewer than 15 securityholders in each Canadian jurisdiction and fewer than 51 worldwide.

The principal regulator granted the requested order, determining that the applicant met the statutory requirements to cease being a reporting issuer.

The Filer applied to the Ontario Securities Commission for exemptive relief to extend the lapse date of the prospectus for the First Asset Short Term Government Bond Index Class ETF.

The Filer sought to align the Fund's prospectus renewal with three affiliated ETFs to reduce costs and streamline disclosure.

The Commission found that the extension would not prejudice the public interest, as there were no material changes to the Fund and the current prospectus remained accurate.

The requested relief was granted.

The applicant applied for exemptive relief from the requirement under NI 81-102 to obtain prior securityholder approval for a proposed reorganization of certain mutual funds.

The reorganization was prompted by changes to the Income Tax Act that eliminated the favourable tax treatment of forward contracts used by the Capital Yield Class.

The Ontario Securities Commission granted the requested relief and approved the transaction, subject to conditions including independent review committee approval and the provision of detailed notice to securityholders at least 60 days prior to the transaction date.

The Filer, Ford Floorplan Auto Securitization Trust, applied to the Ontario Securities Commission for an order to cease being a reporting issuer in all applicable Canadian jurisdictions.

The Filer 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 principal regulator granted the order, finding that the Filer met the test under the securities legislation.

The applicant, the CEO and Chair of Shopify Inc., applied for exemptive relief from the prospectus requirement under s. 53(1) of the Securities Act to permit the sale of Class A Shares under an automatic securities disposition plan (ASDP).

The applicant sought relief from the waiting period, reporting requirements, and expiry provisions of NI 45-102.

The Ontario Securities Commission granted the exemption, subject to conditions including that the ASDP contains meaningful restrictions on variation or termination, sales are conducted by a broker without the applicant's participation, and the applicant does not possess material undisclosed information when entering the plan.

Aralez Pharmaceuticals Inc. applied for exemptive relief from the requirement to include certain historical financial statements in a business acquisition report and any short form prospectus following its acquisition of the U.S. rights to Toprol-XL.

The Filer argued that it was impracticable to prepare full carve-out financial statements because the acquired assets were not treated as a separate business by the seller and were integrated into the seller's other businesses.

The Ontario Securities Commission granted the requested relief, permitting the Filer to include abbreviated financial statements instead.

The Manager applied for exemptive relief to approve the mergers of several terminating mutual funds into continuing mutual funds under paragraph 5.5(1)(b) of National Instrument 81-102.

The mergers did not meet all pre-approved criteria because the fundamental investment objectives were not substantially similar and some mergers were not tax-deferred.

The principal regulator granted the requested approval, finding it met the test set out in the legislation.

Mackenzie Financial Corporation applied for exemptive relief under National Instrument 81-102 to approve the proposed reorganization of several terminating mutual funds into continuing funds.

The reorganization required regulatory approval because the investment objectives of certain continuing funds were not substantially similar to the terminating funds, and certain mergers would be effected on a taxable basis.

The Ontario Securities Commission granted the requested relief, permitting the reorganizations to proceed subject to the prior approval of the securityholders of the terminating funds at a special meeting.

The applicant, TransGlobe Apartment Real Estate Investment Trust, applied to the Ontario Securities Commission for an order declaring that it has ceased to be a reporting issuer in all jurisdictions of Canada.

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 principal regulator granted the requested order.

The applicant applied for exemptive relief from sections 2.5(2)(a) and 2.5(2)(c) of National Instrument 81-102 to permit its mutual funds to invest in Gold ETFs, including those not qualified for distribution in Canada but listed on US exchanges.

The Ontario Securities Commission granted the requested relief, subject to conditions including that the investments align with the funds' fundamental investment objectives, the ETFs trade on Canadian or US exchanges, and aggregate exposure limits are maintained.

The Filer applied for an order under the securities legislation to cease being a reporting issuer in all jurisdictions of Canada where it is a reporting issuer.

The Ontario Securities Commission, acting as the principal regulator, found that the Filer met the necessary criteria, including having fewer than 15 securityholders in each Canadian jurisdiction and fewer than 51 worldwide, and not being in default of securities legislation.

The order was granted.

The Filer applied for exemptive relief on behalf of its mutual funds from paragraphs 2.5(2)(a) and (c) of National Instrument 81-102.

The relief sought to permit the funds to invest up to 10% of their net asset value in closed-end funds that are not mutual funds subject to NI 81-102 and foreign closed-end funds that are not reporting issuers in the local jurisdiction.

The Ontario Securities Commission granted the exemption, subject to conditions including leverage limits and pre-trade compliance controls.

The applicant, Brompton Funds Limited, applied for exemptive relief from the requirement under National Instrument 81-106 to send an information circular to each registered holder of securities whose proxy is solicited.

The applicant sought to use a Notice-and-Access Procedure similar to that permitted for corporate finance issuers under National Instruments 51-102 and 54-101.

The Ontario Securities Commission granted the exemption, subject to conditions ensuring securityholders receive a Notice-and-Access Document and retain the ability to request printed copies of the information circular.

The applicant, an investment fund manager, applied to the Ontario Securities Commission for exemptive relief from the requirement to send an information circular to registered securityholders when soliciting proxies.

The applicant sought to use the Notice-and-Access Procedure currently available to corporate finance issuers under NI 51-102 and NI 54-101.

The Commission granted the exemption, subject to numerous conditions ensuring securityholders receive a Notice-and-Access Document and retain the ability to request printed materials without charge.

The applicant applied for exemptive relief on behalf of its investment funds from the requirement under NI 81-106 to send an information circular to each registered securityholder whose proxy is solicited.

The applicant sought to use the Notice-and-Access Procedure, similar to that available to corporate finance issuers under NI 51-102 and NI 54-101.

The principal regulator granted the exemption, subject to conditions ensuring securityholders receive a Notice-and-Access Document and retain the ability to request printed copies of the information circular.

The applicant, an investment fund manager, applied for exemptive relief on behalf of existing and future investment funds it manages.

The requested relief was an exemption from the requirement under paragraph 12.2(2)(a) of National Instrument 81-106 to send an information circular to each registered holder of securities whose proxy is solicited.

Instead, the applicant sought to use a Notice-and-Access Procedure to send a Notice-and-Access Document.

The Ontario Securities Commission granted the exemption, subject to numerous conditions regarding the content, timing, and procedure for sending the Notice-and-Access Document and providing access to the information circular.

The applicant, an investment fund manager, applied for exemptive relief from the requirement under National Instrument 81-106 to send an information circular to each registered holder of securities whose proxy is solicited.

The applicant sought to use a Notice-and-Access Document instead, similar to the procedure available to corporate finance issuers under NI 51-102 and NI 54-101.

The Ontario Securities Commission granted the exemption, subject to numerous conditions regarding the content, timing, and delivery of the Notice-and-Access Document and related materials.

The applicant, First Asset Investment Management Inc., applied for exemptive relief on behalf of existing and future investment funds it manages.

The applicant sought an exemption from the requirement under National Instrument 81-106 to send an information circular to each registered holder of securities whose proxy is solicited.

Instead, the applicant requested permission to use a notice-and-access procedure similar to that available to corporate finance issuers under National Instruments 51-102 and 54-101.

The Ontario Securities Commission granted the exemption, subject to numerous conditions regarding the content and delivery of the notice-and-access document, ensuring securityholders maintain access to the same quality of disclosure material.

The Filer, 1832 Asset Management L.P., applied for exemptive relief on behalf of existing and future investment funds it manages.

The application sought an exemption from the requirement in NI 81-106 to send an information circular to each registered holder of securities whose proxy is solicited.

Instead, the Filer requested permission to use a Notice-and-Access Procedure, similar to that available to corporate finance issuers under NI 51-102 and NI 54-101.

The Ontario Securities Commission granted the exemption, subject to numerous conditions ensuring securityholders receive adequate notice and maintain the ability to request printed copies of the information circular.