OSC Notice: OSCP 57-602 - Cease Trading Orders - Applications for Partial Revocation to Permit a Security Holder to Establish a Tax Loss

ONTARIO SECURITIES COMMISSION NOTICE

RESCISSION OF ONTARIO SECURITIES COMMISSION POLICY 57-602

CEASE TRADING ORDERS -- APPLICATIONS FOR PARTIAL REVOCATION TO PERMIT
A SECURITYHOLDER TO ESTABLISH A TAX LOSS

National Policy 12-202

The Ontario Securities Commission (the Commission), together with other members of the Canadian Securities Administrators (the CSA), has, under section 143.8 of the Securities Act (Ontario), adopted National Policy 12-202 Revocation of a Compliance-Related Cease Trade Order (the Policy).

The Policy will be effective on July 27, 2007.

Notice of Rescission of the Prior Policy

On July 24, 2007, the Commission approved the rescission of OSC Policy 57-602 Cease Trading Orders -- Applications for Partial Revocation to Permit a Securityholder to Establish a Tax Loss (the Prior Policy) upon the coming into force of the Policy. The guidance in the Prior Policy will be replaced by similar guidance set out in subsection 3.2(1) of the Policy.

The Prior Policy will be rescinded effective July 27, 2007, the same day that the Policy is formally adopted.

Background

A Notice and Request for Comment relating to the rescission of the Prior Policy was published in the May 11, 2007 edition of the Bulletin for a 60-day comment period. The 60-day comment period ended on July 11, 2007 and we received no comments.

Please refer your questions to any of the people listed below: