Securities Law & Instruments

Headnote

Clause 213(3)(b) of the Loan and Trust Corporations Act -- application by manager for approval to act as trustee of a mutual fund trust.

Statutes Cited

Loan and Trust Corporations Act, R.S.O. 1990, c. L.25, as am., clause 213(3)(b).

November 12, 2004

ChitizPathak LLP
154 University Avenue, Suite 500
Toronto, Ontario
M5H 3Y9

Attention: Manoj Pundit

Dear Sirs/Mesdames:

Re:
NAVigator Capital Management Inc. ("Navigator") Application pursuant to clause 213(3)(b) of the Loan and Trust Corporations Act (Ontario) for approval to act as trustee

Further to the application dated November 4, 2004 (the "Application") filed on behalf of Navigator and based on the facts set out in the Application, pursuant to the authority conferred on the Ontario Securities Commission (the "Commission") in clause 213(3)(b) of the Loan and Trust Corporations Act (Ontario), the Commission approves the proposal that Navigator act as trustee of the Starboard RSP Fund and of any future funds to be established and managed by Navigator from time to time, the securities of which will be offered pursuant to prospectus exemption.

"Paul M. Moore"
"Susan Wolburgh Jenah"

 

October _____, 2004.

Acknowledgement as Received by,

John Stevenson
the Secretary to the
Ontario Securities Commission

October _____, 2004.