Securities Law & Instruments

Headnote

Section 144 - partial revocationof cease trade order.

Applicable Ontario StatutoryProvisions

Securities Act, R.S.O.,c. S.5, as am. ss. 127 and 144.
 
IN THE MATTER OF
THE SECURITIES ACT,
R.S.O. 1990, CHAPTERSS.5, AS AMENDED (the Act)

AND

IN THE MATTER OF
BMO EQUITY INDEX FUND

AND

BRACKNELL CORPORATION

AND

iTEMUS INC.

ORDER
(Section 144)

WHEREAS the securitiesof Bracknell Corporation (Bracknell) currently are subjectto an Order of the Ontario Securities Commission (the Commission)made on March 22, 2002 (the Bracknell Cease Trade Order)pursuant to section 127 of the Act, ordering that tradingin any securities of Bracknell cease;

AND WHEREAS the securitiesof itemus Inc. (itemus) currently are subject to an Orderof the Commission made on November 15, 2001 (the itemusCease Trade Order) pursuant to section 127 of the Act, orderingthat trading in any securities of itemus cease;

AND WHEREAS BMO EquityIndex Fund (the Fund) has made application to the Commissionpursuant to section 144 of the Act (the Application) foran order varying the Bracknell Cease Trade Order and itemusCease Trade Order (collectively, the Cease Trade Orders)in order to allow for the disposition by the Fund of 35,200securities of Bracknell and 140,000 securities of itemus(collectively, the Securities) for the purpose of establishinga tax loss;

AND WHEREAS OntarioSecurities Commission Policy 57-602 provides that the Commissionis prepared to vary an outstanding cease trade order topermit the disposition of securities subject to the ceasetrade order for the purpose of establishing a tax loss wherethe Commission is satisfied that the disposition is beingmade, so far as the securityholder is concerned, solelyfor the purpose of that securityholder establishing a taxloss and provided that the securityholder provides the purchaserwith a copy of the cease trade order and the variation order;

AND UPON consideringthe Application and the recommendation of the staff of Commission;

AND UPON the Fundhaving represented to the Commission that:

(i) The Fund acquiredthe Securities prior to the issuance of the Cease TradeOrders;

(ii) The Fund will effectthe proposed disposition of the Securities (the Disposition)solely for the purpose of establishing a tax loss in respectof such Disposition;

(iii) Scotia McLeod Inc.has agreed to purchase the Securities from the Fund atan aggregate purchase price of $1.00;

(iv) Scotia McLeod Inc.will purchase and hold the Securities as principal; and

(v) The Fund will providethe purchaser with a copy of the Cease Trade Orders andthis Order;

AND UPON the Commissionbeing of the opinion that to do so would not be prejudicialto the public interest;

IT IS ORDERED pursuantto section 144 of the Act that the Cease Trade Orders beand are hereby varied in order to permit the Disposition.

June 14, 2002.

"John Hughes"