Criterion Investments Limited - cl. 213(3)(b) of the LTCA

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 and other pooled funds to be established and managed by the applicant, and offered pursuant to a prospectus exemption.

Statutes Cited

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

November 23, 2004

Attention: Mr. Jeff Glass

Dear Sirs/Mesdames:

Further to your application dated November 15, 2004 (the "Application") filed on behalf of the Applicant, and based on the facts set out in the Application, pursuant to authority conferred on the Ontario Securities Commission (the "Commission") in clause 213(3)(b) of the Loan and Trust Corporations Act, 1987 (Ontario), the Commission approves the proposal that the Applicant act as trustee of the CIL Business Trust Fund.