Planmar Financial Corp. - s. 5.1 of Rule 31-506

Headnote

Section 5.1 - OSC Rule 31-506 - exemption tomutual fund dealer from the requirement to be a member of theMutual Fund Dealers Association of Canada - exemption for alimited period of time.

Applicable Ontario Securities CommissionRule

Rule 31-506 - SRO Membership - Mutual Fund Dealers.

IN THE MATTER OF

THE SECURITIES ACT

R.S.O. 1990, C. S.5, AS AMENDED(the "Act")

AND

IN THE MATTER OF

ONTARIO SECURITIES COMMISSIONRULE 31-506

SRO MEMBERSHIP B MUTUAL FUNDDEALERS (the "Rule")

AND

IN THE MATTER OF

PLANMAR FINANCIAL CORP.

EXEMPTION

(Section 5.1 of the Rule)

UPON the Director having received anapplication (the "Application") from Planmar FinancialCorp. ("Planmar") seeking a decision pursuant to section5.1 of the Rule, to exempt Planmar from the application of section2.1 of the Rule, which would require Planmar to be a memberof the Mutual Fund Dealers Association of Canada (the "MFDA")from and after July 2, 2002 on the condition that Planmar isa member of the MFDA by April 1, 2003;

AND UPON considering the Applicationand the recommendation of staff of the Commission;

AND UPON Planmar having represented tothe Director that:

1. Planmar is registered under the Act asa mutual fund dealer and has its head office in Ontario.

2. Planmar filed a membership application(the "MFDA Application") with the MFDA;

3. Planmar has complied, on a timely basis,with all requests by the MFDA for information and/or documentspertaining to its MFDA Application;

4. Planmar is not aware of any issues whichremain unresolved between it and the MFDA in respect of itsMFDA Application;

5. Planmar was exempted from section 2.1 ofthe Rule ("the Initial Exemption") on the conditionthat Planmar was a member of the MFDA by December 1, 2002;and

6. Planmar will not be a member of the MFDAby December 1, 2002.

AND UPON the Director being satisfiedthat to do so would not be prejudicial to the public interest;

IT IS THE DECISION of the Director, pursuantto section 5.1 of the Rule, that Planmar is exempt from therequirement of section 2.1 of the Rule, as modified by the InitialExemption, to be a member of the MFDA by December 1, 2002 onthe condition that, from and after April 1, 2003, so long asPlanmar is registered as a mutual fund dealer under the Actit is a member of the MFDA.

November 30, 2002.

"David M. Gilkes"