Exemption Orders (Discretionary)
iUNITS S&P/TSE 60 CAPPED INDEX FUND
2001 BCSECCOM 1005
IN THE MATTER OF THE SECURITIES ACT
R.S.B.C. 1996, c. 418
AND
IN THE MATTER OF iUNITS S&P/TSE 60 CAPPED INDEX FUND, iUNITS S&P/TSE CANADIAN MIDCAP INDEX FUND, iUNITS S&P/TSE CANADIAN ENERGY INDEX FUND, iUNITS S&P/TSE CANADIAN INFORMATION TECHNOLOGY INDEX FUND, iUNITS S&P/TSE CANADIAN GOLD INDEX FUND and iUNITS S&P/TSE CANADIAN FINANCIALS INDEX FUND (collectively, the “Funds”)
Order Under Section 124 of the Securities Rules
[para 1]
Barclays Global Investors Canada Limited (“Barclays”), the trustee of the Funds, has applied to extend from September 28, 2001 to October 5, 2001 the lapse date of the Funds’ long form prospectus dated February 15, 2001 (the “Prospectus”);
[para 2]
Barclays has represented that:
(a) Barclays is responsible for the day-to-day administration of the Funds;
(b) each Fund is a trust established under the laws of Ontario and its investment objectives are to track the performance of the applicable S&P/TSE Index;
(c) the Funds are reporting issuers in British Columbia under the Securities Act, R.S.B.C. 1996, c.418 (the “Act”) and, to the best of their knowledge, are not in default of any of the requirements of the Act or the regulations made under the Act, other than as described below;
(d) units of the Funds were qualified for distribution in all provinces and territories of Canada by means of the Prospectus;
(e) the lapse date of the Prospectus under the Act was September 28, 2001 (the “Lapse Date”) being 12 months from the date of a preliminary receipt issued for the preliminary prospectus;
(f) during the process of renewing their prospectus, the Funds inadvertently did not comply with the time limits prescribed by Section 122(b) and (c) of the Securities Rules B.C. Reg. 194/195 (the “Rules”) because they filed a pro forma prospectus less than 30 days prior to the Lapse date and filed a final renewal prospectus more than 10 days after the Lapse Date;
(g) Barclays wishes to extend the Lapse Date by one week to October 5, 2001 in order to meet the prescribed time limits for the prospectus renewal;
(h) no units of the Funds have been distributed in British Columbia after the Lapse Date;
[para 3]
The Executive Director considers that to extend the Lapse Date would not be prejudicial to the public interest;
[para 4]
It is ordered under Section 124 of the Rules that the time limits provided by Section 122(b) and (c) of the Rules, as they apply to the distribution of the Funds’ units pursuant to the Prospectus are extended to the time limits that would apply if the Lapse Date were October 5, 2001.
[para 5]
Vancouver, British Columbia, on October 18, 2001.
Wayne Redwick, C.G.A.
Director