Mutual Reliance Review System for Exemptive Relief Applications - Following takeoverand merger, acquiror holding all outstanding units of issuer - issuer deemed to haveceased to be a reporting issuer.
Applicable Ontario Statutory Provisions
Securities Act, R.S.O. 1990, c.S.5, as am. s. 83
IN THE MATTER OF
THE MUTUAL RELIANCE REVIEW SYSTEM FOR EXEMPTIVE RELIEF APPLICATIONS
IN THE MATTER OF
PAN PACIFIC U.S. SHOPPING CENTER I LIMITED PARTNERSHIP
MRRS DECISION DOCUMENT
WHEREAS the Canadian securities regulatory authority or regulator (the "DecisionMaker") in each of British Columbia, Alberta, Saskatchewan, Ontario, Nova Scotia, andNewfoundland (the "Jurisdictions") has received an application from Pan Pacific U.S.Shopping Center I Limited Partnership (the "Filer") for a decision pursuant to the securitieslegislation of the Jurisdictions (the "Legislation") that the Filer be deemed to have ceasedto be a reporting issuer or the equivalent thereof for the purposes of the Legislation;
AND WHEREAS pursuant to the Mutual Reliance Review System for ExemptiveRelief Applications (the "System"), the Ontario Securities Commission is the principalregulator for the application;
AND WHEREAS the Filer has represented to the Decision Makers that:
1. the Filer is a Delaware limited partnership formed on October 14, 1988;
2. the Filer is a reporting issuer, or the equivalent thereof, under the Legislation;
3. pursuant to an Agreement and Plan of Merger dated as of February 2, 2000, PanPacific Development (Chino), Inc. now owns all of the issued and outstandinglimited partnership units of the Filer;
4. The Filer has no securities other than the limited partnership units.
5. the Filer has fewer than 15 security holders whose latest address as shown on itsbooks is in any of the Jurisdictions;
6. the Filer has never had any of its securities listed on any stock exchange in Canadaand does not currently intend to seek public financing by way of an issue ofsecurities;
7. the Filer is not on the list of reporting issuers in default for any of the Jurisdictions.
AND WHEREAS pursuant to the System, this MRRS Decision Document evidencesthe decision of each Decision Maker (collectively, the "Decision");
AND WHEREAS each of the Decision Makers is of the opinion that it would not beprejudicial to the public interest to make the Decision;
The Decision of the Decision Makers pursuant to the Legislation is that the Filer isdeemed to have ceased to be a reporting issuer or the equivalent thereof under theLegislation.
April 14th, 2000.