IN THE MATTER OF THE SECURITIES ACT,
R.S.O. 1990, c. S. 5, AS AMENDED (the "Act")
IN THE MATTER OF STRATEGICNOVA U.S. LARGE CAP VALUE FUND,
STRATEGICNOVA ASIA-PACIFIC FUND, NAVIGATOR CANADIAN FOCUSED GROWTH PORTFOLIO, NAVIGATOR CANADIAN GROWTH FUND, NAVIGATOR CANADIAN INCOME FUND,
STRATEGICNOVA CANADIAN TECHNOLOGY FUND,
STRATEGICNOVA EUROTECH FUND, STRATEGICNOVA JAPAN FUND,
STRATEGICNOVA U.S. DOLLAR MONEY MARKET FUND,
STRATEGICNOVA SAMI FUND, STRATEGICNOVA CANADIAN LARGE CAP VALUE FUND, STRATEGICNOVA WORLD LARGE CAP FUND, STRATEGICNOVA CANADIAN BALANCED FUND, NOVA BOND FUND
and STRATEGICNOVA MONEY MARKET FUND
(individually, a "Fund" and, collectively, the "Funds")
UPON an application (the "Application) from StrategicNova Funds Management Inc. (the "Manager") on behalf
of the Funds for an order pursuant to subsection 62(5) of the Act that the time limits pertaining to the distribution of units under the current simplified prospectuses and annual information forms (the "Prospectuses") of the Funds be extended to those time limits that would be applicable if the lapse dates (the "Lapse Dates") for the distribution of units under the Prospectuses were November 20,2000;
AND UPON considering the Application and the recommendation of the staff of the Ontario Securities
AND UPON the Manager having represented as follows:
1. The Manager is a corporation existing under the laws of Ontario. The Manager is the manager and trustee of all of the Funds.
2.Each of the Funds is an open-ended mutual fund trust governed by the laws of Ontario.
3.Each of the Funds is a reporting issuer under the Act and is not in default of any requirements of the Act or the regulations or rules made thereunder.
4.Pursuant to subsection 62(1) of the Act and MRRS decision documents dated May 12, 2000 and August 21, 2000 issued pursuant to subsection 62(5) of the Act, the Lapse Date for distribution of the units of the Funds is October 31, 2000.
5. Since the dates of the Prospectuses, no significant changes have occurred in respect of the affairs of the Funds except with respect to the matters disclosed in the Amendments No. 1 dated August 9, 2000 to the Prospectuses that were filed on behalf of the Funds under the Act.
6. A preliminary and pro forma simplified prospectus and preliminary and pro forma annual information form of the Funds, as well as certain other StrategicNova Funds, was filed on September 29, 2000 and a simplified prospectus and an annual information form of the Funds (collectively, the "Renewal Prospectus"), as well as certain other StrategicNova Funds, was filed on November 10, 2000.
7. In order for the distribution of units of the Funds to continue for a further twelve months following the current Lapse Date, absent the exemptive relief provided by this order, a receipt for the Renewal Prospectus must be obtained within 20 days of the current Lapse Date.
8.The Manager needs additional time to obtain the necessary comfort letters from the Funds’ auditors to satisfy the requirements of the Ontario Securities Commission for the issue of a receipt for the Renewal Prospectus.
AND UPON the undersigned being satisfied that to do so would not be prejudicial to the public interest;
IT IS ORDERED pursuant to subsection 62(5) of the Act that the time limits provided by the Act as they apply
to the distribution of the units of the Funds pursuant to the Prospectuses are hereby extended to the time limits that would be applicable if the Lapse Date for the distribution of units under the Prospectuses of the Funds was
November 20, 2000.
Dated the 20th day of November, 2000
Director, Capital Markets