**Summary of Securities Commission Decision:**
The Ontario Securities Commission granted Ninepoint Partners LP, on behalf of Canadian Large Cap Leaders Split Corp. (the Fund), an exemption from the qualification criteria in paragraph 2.2(d) of National Instrument 44-101 (NI 44-101). This exemption allows the Fund to file a short form prospectus under NI 44-101 or a shelf prospectus under National Instrument 44-102 (NI 44-102) despite not having completed a financial year or having current annual financial statements or an annual information form (AIF).
**Key Facts:**
– The Fund was incorporated on December 19, 2023, and commenced operations on February 22, 2024.
– The Fund has not completed its first financial year and lacks audited financial statements and a current AIF.
– The Fund aims to expedite future offerings of its shares by using a short form or shelf prospectus.
**Reasoning:**
– Filing a short form or shelf prospectus is more efficient and cost-effective than filing a long form prospectus.
– The Fund will prepare and file interim financial statements and management reports to ensure adequate disclosure.
**Outcome:**
– The exemption is granted with conditions, including the requirement to file initial financial statements and management reports before filing a preliminary short form or shelf prospectus.
– The exemption expires on the earlier of the filing of the Fund’s 2024 annual financial statements or April 1, 2025.
**Relevant Laws/Regulations:**
– National Instrument 44-101 Short Form Prospectus, ss. 2.2(d) and 8.1
– National Instrument 44-102 Shelf Distributions
– National Instrument 81-106 Investment Fund Continuous Disclosure
– Multilateral Instrument 11-102 Passport System