Headnote

Mutual Reliance Review System for Exemptive Relief Applications - application for mutual fund lapse date extension.

Applicable British Columbia Provisions

Securities Act, R.S.B.C. 1996, c.418, s. 70
Securities Rules, B.C. Reg. 194/97, s. 121, 122, 123 and 124.

IN THE MATTER OF THE SECURITIES LEGISLATION OF BRITISH COLUMBIA, ALBERTA, SASKATCHEWAN, MANITOBA, ONTARIO, QUEBEC, NOVA SCOTIA, PRINCE EDWARD ISLAND, NEWFOUNDLAND, NORTHWEST TERRITORIES, YUKON TERRITORY AND NUNAVUT TERRITORY

AND

IN THE MATTER OF
THE MUTUAL RELIANCE REVIEW SYSTEM FOR
EXEMPTIVE RELIEF APPLICATIONS

AND IN THE MATTER OF

BPI American Equity Fund
BPI American Equity RSP Fund
BPI Global Equity Fund
BPI Global Equity RSP Fund
BPI International Equity Fund
BPI International Equity RSP Fund
Landmark American Fund (formerly, CI American Fund)
Landmark American RSP Fund (formerly, CI American RSP Fund)
CI American Managers RSP Fund
CI Canadian Growth Fund
CI Emerging Markets Fund
CI Emerging Markets RSP Fund
CI European Fund
CI Global Biotechnology RSP Fund
CI Global Business-to-Business (B2B) RSP Fund
CI Global Consumer Products RSP Fund
CI Global Energy RSP Fund
CI Global Equity RSP Fund
CI Global Financial Services RSP Fund
CI Global Fund
CI Global Health Sciences RSP Fund
CI Global Managers RSP Fund
CI Global Technology RSP Fund
CI Global Telecommunications RSP Fund
CI Global Value Fund
CI International Fund
CI International RSP Fund
CI International Value Fund
CI Japanese RSP Fund
CI Latin American Fund
CI Pacific Fund
CI Pacific RSP Fund
Landmark Canadian Fund
Landmark Global RSP Fund
CI Canadian Balanced Fund
CI Canadian Income Fund
CI Global Boomernomics_ RSP Fund
CI International Balanced Fund
CI International Balanced RSP Fund
CI Canadian Bond Fund
CI Global Bond RSP Fund
CI Money Market Fund
CI US Money Market Fund
CI World Bond Fund
BPI American Equity Sector Fund
BPI Global Equity Sector Fund
BPI International Equity Sector Fund
CI American Managers Sector Fund
Landmark American Sector Fund (formerly, CI American Sector Fund)
CI Canadian Sector Fund
CI Emerging Markets Sector Fund
CI European Sector Fund
CI Global Biotechnology Sector Fund
CI Global Business-to-Business (B2B) Sector Fund
CI Global Consumer Products Sector Fund
CI Global Energy Sector Fund
CI Global Financial Services Sector Fund
CI Global Health Sciences Sector Fund
CI Global Managers Sector Fund
CI Global Sector Fund
CI Global Technology Sector Fund
CI Global Telecommunications Sector Fund
CI Global Value Sector Fund
CI International Value Sector Fund
CI Japanese Sector Fund
CI Latin American Sector Fund
CI Pacific Sector Fund
Harbour Sector Fund
Landmark Global Sector Fund
Signature American Small Companies Sector Fund
Signature Canadian Sector Fund
Signature Explorer Sector Fund
Signature Global Small Companies Sector Fund
CI Global Boomernomics_ Sector Fund
CI Short-Term Sector Fund
Harbour Fund
Harbour Growth & Income Fund
Signature American Small Companies Fund
Signature American Small Companies RSP Fund
Signature Canadian Fund
Signature Canadian Resource Fund
Signature Select Canadian Fund (formerly, Signature Dividend Equity Fund)
Signature Explorer Fund
Signature Global Small Companies Fund
Signature Global Small Companies RSP Fund
Signature Canadian Balanced Fund
Signature Dividend Fund
Signature Dividend Income Fund
Signature High Income Fund
(collectively, the “Funds”)


MRRS DECISION DOCUMENT


WHEREAS the Canadian securities regulatory authority or regulator (the “Decision Maker”) in each of the provinces and territories of British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec, Nova Scotia, Prince Edward Island, Newfoundland, Northwest Territories, Yukon Territory and Nunavut Territory (the “Jurisdictions”) has received an application (the “Application”) from the CI Mutual Funds Inc. (“CI”), the manager of each of the Funds, for a decision pursuant to securities legislation of the Jurisdictions (the “Legislation”) that the time limits pertaining to the distribution of securities under the prospectuses of the Funds be extended to the time limits that would be applicable if the lapse dates were July 28, 2001;

AND WHEREAS under the Mutual Reliance Review System for Exemptive Relief Applications (the “System”) the Ontario Securities Commission (the “Commission”) is the principal regulator for the Application;

AND WHEREAS it has been represented by CI to the Decision Makers that:

1. Each Fund is a reporting issuer as defined in the Legislation and is not in default of any of the requirements of the Legislation.

2. The earliest lapse date for the distribution of qualified securities (the “Securities”) of the Funds pursuant to their respective prospectuses dated July 17, 2000 (the “Prospectuses”) is July 17, 2001.

3. On June 15, 2001, the Funds filed pro forma prospectuses (the “Renewal Prospectuses”) under SEDAR project numbers 368664, 368667 and 368671 in each of the Jurisdictions within the time limits specified by the Legislation.

4. In connection with the filing of the Renewal Prospectuses, the Funds require additional time to complete the preparation of the Renewal Prospectuses.

AND WHEREAS under the System, this MRRS Decision Document evidences the decision of each Decision Maker (collectively, the “Decision”);

AND WHEREAS each of the Decision Makers is satisfied that the test contained in the Legislation that provides the Decision Maker with the jurisdiction to make the Decision has been met;

THE DECISION of the Decision Makers under the Legislation is that the time limits provided in the Legislation for the filing of the Renewal Prospectuses and receipting thereof, in connection with the distribution of the Securities under the Prospectuses, are hereby extended to the time limits that would be applicable if the lapse dates for the distributions of the Securities under the Prospectuses were July 28, 2001.

Dated July 27, 2001



Paul A. Dempsey
Manager
Investment Funds, Capital Markets