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.
June 20, 2006
Stikeman Elliott LLP
5300 Commerce Court West
199 Bay Street
Toronto, Ontario
M5L 1B9
Dear Ms. Crum-Ewing
Re: Xerox Capital LLC (the "Applicant") -- Application to Cease to be a Reporting Issuer under the securities legislation of Ontario, Alberta, Saskatchewan, Manitoba, Quebec, New Brunswick, Newfoundland and Labrador, and Nova Scotia (collectively, the "Jurisdictions")
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,
(a) the outstanding securities of the Applicant, including debt securities, are beneficially owned, directly or indirectly, by less than 15 security holders in each jurisdiction in Canada and less than 51 security holders in total in Canada;
(b) no securities of the Applicant are traded on a marketplace as defined in National Instrument 21-101 Marketplace Operation;
(c) the Applicant is applying for relief to cease to be a reporting issuer in all jurisdictions in Canada in which it is currently a reporting issuer; and
(d) the Applicant is not in default of any of its obligations under the Legislation as a reporting issuer,
each of the Decisions 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.
"Jo-Anne Matear"
[Assistant Manager], Corporate Finance
Ontario Securities Commission