Mutual Reliance Review System for Exemptive Relief Applications – issuer deemed to have ceased to be a reporting issuer.
Ontario Statutes
Securities Act, R.S.O. 1990, c.S.5, as am., ss. 83.
February 15, 2006
Stikeman Elliott LLP
5300 Commerce Court
199 Bay Street
Toronto, Ontario
M5L 1B9
Attention: Donald Belovich
Re: PBB Global Logistics Income Fund (the "Applicant") – Application to Cease to be a Reporting Issuer under the securities legislation of Alberta, Saskatchewan, Manitoba, Quebec, New Brunswick, Nova Scotia and Newfoundland and Labrador (the "Jurisdictions")
Dear Mr. Belovich:
The Applicant has applied to the local securities regulatory authority or regulator (the "Decision Maker") in each of the Jurisdictions for a decision under the securities legislation (the "Legislation") of the Jurisdictions to be deemed to have ceased to be a reporting issuer in the Jurisdictions.
As the applicant has represented to the Decision Makers that,
• the outstanding securities of the Applicant,
including debt securities, are beneficially owned, directly or indirectly,
by less than 15 security holders
in each of the jurisdictions in Canada and less than 51 security holders
total in Canada;
• no securities of the Applicant are traded on a marketplace as defined
in National Instrument 21-101 Marketplace Operation;
• the Applicant is applying for relief to cease to be a reporting issuer
in all of the jurisdictions in Canada in which it is currently a reporting issuer;
and
• the Applicant is not in default of any of its obligations under the Legislation
as a reporting issuer,
each of the Decision Makers is satisfied that the test contained in the Legislation that provides the Decision Maker with the jurisdiction to make the decision has been met and orders that the Applicant is deemed to have ceased to be a reporting issuer.
" Charlie MacCready"
Assistant Manager, Corporate Finance
Ontario Securities Commission