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Merrill Lynch Mortgage Loans Inc. - s. 147
Headnote
Section 147 – relief granted from the requirement that a period of ten days elapse between the issuance of a receipt for a preliminary prospectus and the issuance of a receipt for a (final) prospectus
Statutes Cited
Securities Act, R.S.O. 1990, c.S.5. as am, ss. 65(1), 147.
Rules Cited
National Instrument 44-101 – Short Form Prospectus Distributions (2000) 23 OSCB (Supp) 867.
Section 147 – relief granted from the requirement that a period of ten days elapse between the issuance of a receipt for a preliminary prospectus and the issuance of a receipt for a (final) prospectus
Statutes Cited
Securities Act, R.S.O. 1990, c.S.5. as am, ss. 65(1), 147.
Rules Cited
National Instrument 44-101 – Short Form Prospectus Distributions (2000) 23 OSCB (Supp) 867.
IN THE MATTER OF
THE SECURITIES ACT
R.S.O. 1990, C.S.5, AS AMENDED(the "Act")
AND
IN THE MATTER OF
MERRILL LYNCH MORTGAGE LOANS INC.
ORDER
(Section 147)
WHEREAS Merrill Lynch Mortgage Loans Inc. (the "Applicant") filed a preliminary prospectus dated January 15, 2001 (the "Preliminary Prospectus") in accordance with National Instrument 44-101 -- Short Form Prospectus Distributions (the "Short Form Rule") relating to the offering of pass-through certificates in the aggregate amount of $187,680,000 and received a receipt therefor dated January 16, 2001(the "Offering");
AND WHEREAS the Applicant may file a (final) prospectus on or before January 25, 2001 (the "Prospectus") in accordance with the Short Form Rule and is desirous of receiving a receipt forthwith thereafter;
AND WHEREAS the Short Form Rule may not provide for relief from the requirement contained in subsection 65(1) of the Act that a period of ten days elapse between the issuance by the Director of a receipt for a preliminary prospectus relating to the offering of a security and the issuance of a receipt for a (final) prospectus (the "Waiting Period Requirement");
AND WHEREAS the Applicant has applied to the Ontario Securities Commission (the "Commission") for an order pursuant to section 147 of the Act that the Waiting Period Requirement shall not apply in connection with the Offering;
AND WHEREAS the Commission has considered the application and the recommendation of staff of the Commission and is satisfied that to do so would not be prejudicial to the public interest.
IT IS ORDERED pursuant to section 147 of the Act that:
(a)the Waiting Period Requirement shall not apply in connection with the Offering; and
(b)no fee shall be payable in connection with the making of this application.
January 19, 2001.
"J.A. Geller", "R. Stephen Paddon"