Income Financial Plus Trust - s. 83

Decision

Headnote

Mutual Reliance Review System for Exemptive Relief Applications - Securities Act, R.S.O. 1990, c. S.5, as am., s. 83 - Applicant is seeking relief to be deemed to have ceased to be a reporting issuer in compliance with the requirements set out in CSA Notice 12-307- Applicant has been wound up and no longer requires to be a reporting issuer - satisfies all the requirements set out in CSA Notice 12-307.

Applicable Legislative Provisions

Securities Act, R.S.O. 1990, c. S.5, as am., s. 83.

CSA Staff Notice 12-307 - Ceasing to be a Reporting Issuer under the Mutual Reliance Review System for Exemptive Relief Applications. (2003) 26 OSCB 6348.

March 30, 2006.

Blake, Cassels & Graydon LLP
Box 25 Commerce Court West
Toronto, Ontario
M5L 1A9

Attention: Stacy McLean

Dear Ms. McLean:

Re:
Income Financial Plus Trust (the Applicant) - Application to cease to be a Reporting Issuer under the securities legislation of Ontario, Quebec, Alberta, Saskatchewan, New Brunswick, Nova Scotia and Newfoundland and Labrador (the Jurisdictions) as set out in CSA Staff Notice 12-307
Application No. 06/152

The Applicant has applied to the local securities regulatory authority or regulator (the Decision Maker) in each of the Jurisdictions for a decision under the securities legislation (the Legislation) of the Jurisdictions to be deemed to have ceased to be a reporting issuer in the Jurisdictions.

As the Applicant has represented to the Decision Makers that:

    • the outstanding securities of the Applicant, including debt securities are beneficially owned, directly or indirectly, by less than 15 security holders in each of the jurisdictions in Canada and less than 51 security holders in total in Canada;

    • no securities of the Applicant are traded on a marketplace as defined in National Instrument 21-101 Marketplace Operation;

    • the Applicant has applied for relief to cease to be a reporting issuer in all of the jurisdictions in Canada in which it is a reporting issuer. The Applicant has also filed a Notice of Voluntary Surrender of Reporting Issuer Status with the British Columbia Securities Commission and provided notice to the Manitoba Securities Commission that it has ceased to be a reporting issuer in Manitoba; and

    • the Applicant is not in default of any of its obligations under the Legislation as a reporting issuer,

each of the Decision Makers is satisfied that the test contained in the Legislation that provides the Decision Maker with the jurisdiction to make the decision has been met and orders that the Applicant is deemed to have ceased to be a reporting issuer.

"Leslie Byberg"
Manager, Investment Funds