The Ontario Securities Commission has decided to grant an exemption to Canada Life Investment Management Ltd., the manager of several funds, from the requirement under subsection 2.1(2) of National Instrument 81-101 Mutual Fund Prospectus Disclosure (NI 81-101). This requirement restricts issuers from filing a final prospectus more than 90 days after the receipt of the preliminary prospectus.
The decision was made following an application by Canada Life Investment Management Ltd., which sought relief from this timing restriction for its funds, including Canada Life U.S. Small-Mid Cap Growth Fund, Canada Life Global Growth Opportunities Fund, Canada Life European Equity Fund, Canada Life Emerging Markets Equity Fund, and Canada Life Precious Metals Fund.
The Director of the Ontario Securities Commission, upon reviewing the application and its supporting information, has agreed to allow the exemption. The condition attached to this exemption is that the final prospectus must be filed no later than January 28, 2022. This decision is based on the specific circumstances and reasons outlined in the application and is contingent upon compliance with the stated filing deadline.