Children's Education Trust of Canada

Decision

Headnote

Application pursuant to s. 6.1 of OSC Rule 13-502 Fees - exemption from requirement to pay activity fee of $3000 in connection with the Application under item E(1) of Appendix C to Rule 13-502.

Statutes Cited

Securities Act, R.S.O. 1990, c. s.5 as am., subsection 62(5).

Rules Cited

Ontario Securities Commission Rule 13-502 Fees, Appendix C, Item E(1).

June 12, 2006

Ogilvy Renault
Suite 3800
Royal Bank Plaza, South Tower
200 Bay Street
P.O. Box 84
Toronto, Ontario
M5J 2Z4

Attention: Aglaya Redekopp

Dear Sirs/Mesdames:

Re:
The Children's Education Trust of Canada (the "Fund")
Application under s. 6.1 of OSC Rule 13-502-Fees ("Rule 13-502")
Application No. /06

By letter dated June 9, 2006 (the "Application"), you applied on behalf of the Fund to the Ontario Securities Commission (the "Commission") under subsection 62(5) of the Securities Act (Ontario) (the "Act") for an extension of the time limits pertaining to the distribution of units under the prospectus of the Fund dated May 31, 2005, (the "Prospectus"). You additionally applied for an exemption, pursuant to subsection 6.1 of Rule 13-502, from the requirement to pay an activity fee of $ 3000 in connection with the Application in accordance with item E(1) of Appendix C of Rule 13-502.

From our review of the Application and other information communicated to staff, we understand the relevant facts and representations to be as follows:

1. The Fund is a reporting issuer under the Act and is not in default of any of the requirements of the securities legislation of the Province of Ontario.

2. The units of the Fund are currently qualified for distribution by means of the Prospectus that was prepared and filed in accordance with legislative requirements.

3. The lapse date for the Fund is May 31, 2006. The Fund filed a pro forma prospectus on May 1, 2006.

4. In connection with staff's review of the Fund's prospectus dated April 30, 2006, staff posed certain questions to counsel for the Fund concerning a new product. Both staff and the Fund have expressed a desire to have more time to review and resolve such matters.

Decision

This letter confirms that, based on the information provided in the Application and the facts and representations above, and for the purposes described in the Application, the Director hereby exempts the Fund from paying an activity fee of $3000 in connection with the Application under item E(1) of Appendix C to Rule 13-502.

Yours truly,

Leslie Byberg
Manager, Investment Funds Branch