Securities Law & Instruments

Headnote

Section 83 of the Securities Act - Issuer has15 beneficial holders of the Units - Issuer deemed to have ceasedto be a reporting issuer under the Act.

Statutes Cited

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

IN THE MATTER OF

THE SECURITIES ACT R.S.O.1990, CHAPTER S.5,

AS AMENDED (the "Act")

AND

IN THE MATTER OF

PARKWAY PROPERTY INVESTMENTS

 

ORDER

(Section 83 of the Act)

UPON the application of Parkway PropertyInvestments (Parkway) to the Ontario Securities Commission (theCommission) for an order, pursuant to section 83 of the Act,that Parkway be deemed to have ceased to be a reporting issuerfor the purposes of the Act.

AND UPON Parkway having represented tothe Commission that:

1. Parkway was formed under the laws of theProvince of Ontario on June 14, 1974, pursuant to a co-tenancyarrangement;

2. the issued and outstanding capital of theParkway consists of 390 units (the Units) of a residentialrental property located at 500 Murray Ross Parkway, Toronto,Ontario;

3. Parkway became a reporting issuer underthe Act on February 15, 1979;

4. other than failure to file audited financialstatements for the periods ended December 31, 1999, December31, 2000, December 31, 2001 and interim financial statementsfor the periods ended June 30, 2000, June 30, 2001 and June2002, Parkway is not in default of any requirements underthe Act;

5. the Units are not listed or quoted fortrading on any stock exchange or market in Canada;

6. as a result of a series of transactionsbetween the security holders of Parkway and a real estateinvestment trust, effective February 16, 1998, all of theUnits are beneficially owned by 15 Unitholders;

7. Parkway has no securities other than theUnits and does not intend to make an offering of securitiesto the public; and

8. the beneficial holders holding 95.4% ofthe outstanding Units have acknowledged in writing the makingof the application to the Commission and confirmed that theydo not object to this order being granted.

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

IT IS ORDERED, pursuant to section 83of the Act, that Parkway be deemed to have ceased to be a reportingissuer under the Act.

March 4, 2003.

"John Hughes"