Mutual Reliance Relief Systemfor Exemptive Relief Applications - relief from the requirementthat the author of a technical report be a member of a "professionalassociation" in order to be considered a "qualifiedperson".
National Instruments Cited
National Instrument 43-101 -Standards of Disclosure for Mineral Projects, 2001 24 OSCB 303,ss. 1.2, 2.1, 5.1 and 9.1.
IN THE MATTER OF
THE SECURITIES LEGISLATIONOF
ALBERTA, MANITOBA, ONTARIO,QUEBEC, NEW BRUNSWICK,
PRINCE EDWARD ISLAND, NOVASCOTIA, NEWFOUNDLAND AND LABRADOR,
YUKON, THE NORTHWEST TERRITORIES,AND NUNAVUT
IN THE MATTER OF
THE MUTUAL RELIANCE REVIEWSYSTEM
FOR EXEMPTIVE RELIEF APPLICATIONS
IN THE MATTER OF
PLACER DOME INC.
MRRS DECISION DOCUMENT
WHEREAS the local securitiesregulatory authority or regulator (the "Decision Maker"and collectively, the "Decision Makers") in each ofAlberta, Manitoba, Ontario, Quebec, New Brunswick, Prince EdwardIsland, Nova Scotia, Newfoundland and Labrador, Yukon, the NorthwestTerritories, and Nunavut (the "Jurisdictions") hasreceived an application (the "Application") from PlacerDome Inc. (the "Corporation") for a decision underthe securities legislation of the Jurisdictions (the "Legislation")that: (1) the Corporation is exempt from the requirement containedin National Instrument 43-101 ("NI 43-101") that theauthor of a technical report or other information upon whichdisclosure of a scientific or technical nature is based be amember in good standing of a professional association in orderfor the author to be considered a "qualified person"as defined in NI 43-101 (the "Membership QualificationRequirement"); and (2) the Corporation is exempt from therequirement contained in the Legislation to pay a fee in connectionwith the Application (the "Application Fee Requirement");
AND WHEREAS under theMutual Reliance Review System for Exemptive Relief Applications(the "System"), the Ontario Securities Commissionis the principal regulator for this application;
AND WHEREAS the Corporationhas represented to the Decision Makers that:
1. The Corporation is a corporationamalgamated under the laws of Canada in 1999. The Corporation'sregistered office and corporate head office are located inVancouver, British Columbia at 1055 Dunsmuir Street, Suite1600.
2. Directly and through itssubsidiaries, the Corporation is principally engaged in theexploration for, and the acquisition, development and operationof gold mineral properties. At present, major mining operationsare located in Canada, the United States, Australia, PapuaNew Guinea, South Africa and Chile. Exploration work is carriedout in those countries and others. Although the Corporation'sprincipal product and source of earnings is gold, significantquantities of silver and copper are also produced.
3. The Corporation is a reportingissuer, or holds similar status, under the laws of each provinceof Canada and has held such status for over 12 months.
4. The Corporation's commonshares are listed for trading on the Toronto Stock Exchange,the New York Stock Exchange, the Australian Stock Exchange,Euronext - Paris and the Swiss Exchange. International DepositaryReceipts representing the common shares are listed for tradingon Euronext - Brussels.
5. Placer Dome (CLA) Limited,a wholly-owned subsidiary of the Corporation, is the employerof Andrew Cheatle, Dan Gagnon, John Morton Shannon and RaymondSwanson, who in the course of their employment may authortechnical reports required to be filed by the Corporationpursuant to NI 43-101 and may prepare or supervise the preparationof information upon which the Corporation's disclosure ofa scientific or technical nature may be based.
6. Each of Andrew Cheatle,Dan Gagnon, John Morton Shannon and Raymond Swanson is a memberof the Association of Geoscientists of Ontario ("AGO").AGO was a "professional association" as definedin NI 43-101 until February 1, 2002.
7. AGO is being replaced inOntario by the Association of Professional Geoscientists ofOntario ("APGO"). APGO is a "professional association"as defined in NI 43-101.
8. Each of Andrew Cheatle,Dan Gagnon, John Morton Shannon and Raymond Swanson has appliedto become a member of APGO and would be a "qualifiedperson" as defined in NI 43-101 except only for not yetbeing a member in good standing of a "professional association".
AND WHEREAS under thesystem, this MRRS Decision Document evidences the decision ofeach Decision Maker (collectively, the "Decision");
AND WHEREAS each of theDecision Makers is satisfied that the test contained in theLegislation that provides the Decision Makers with the jurisdictionto make the Decision has been met;
The Decision of the DecisionMakers under the Legislation is that:
1. except in the provinceof Quebec and the Northwest Territories, the Corporation isexempt from the Application Fee Requirement; and
2. the Corporation is exemptfrom the Membership Qualification Requirement in connectionwith technical reports or other information prepared by, orunder the supervision of, any of Andrew Cheatle, Dan Gagnon,John Morton Shannon and Raymond Swanson provided that:
(a) each of Andrew Cheatle,Dan Gagnon, John Morton Shannon and Raymond Swanson complieswith all other elements of the definition of "qualifiedperson" in NI 43-101; and
(b) the relief granted inthis Decision shall terminate with respect to each of AndrewCheatle, Dan Gagnon, John Morton Shannon and Raymond Swansonon the earlier of: (1) the date such individual becomesa member of APGO or is advised that his application formembership to APGO has been denied; and (2) February 1,2003.
July 9, 2002.