Front Street Gold Performance Fund - MRRS Decision

Headnote

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.

IN THE MATTER OF

THE SECURITIES LEGISLATION OF

ALBERTA, NEWFOUNDLAND AND LABRADOR,

NOVA SCOTIA, QUEBEC, ONTARIO AND

SASKATCHEWAN

AND

IN THE MATTER OF

THE MUTUAL RELIANCE REVIEW SYSTEM

FOR EXEMPTIVE RELIEF APPLICATIONS

AND

IN THE MATTER OF

FRONT STREET GOLD PERFORMANCE FUND

MRRS DECISION DOCUMENT

WHEREAS the local securities regulatory authority or regulatory (the "Decision Makers") in each of Alberta, Newfoundland and Labrador, Nova Scotia, Quebec, Ontario and Saskatchewan (collectively, the "Jurisdictions") has received an application (the "Application") from Front Street Gold Performance Fund (the "Applicant"), for a decision pursuant to the securities legislation of the Jurisdictions (the "Legislation") that the Applicant be deemed to have ceased to be a reporting issuer in the Jurisdictions;

AND WHEREAS under the Mutual Reliance Review System for Exemptive Relief Applications (the "System"), the Ontario Securities Commission is the principal regulator for this Application;

AND WHEREAS, unless otherwise defined, the terms herein have the meaning set out in National Instrument 14-101 Definitions or in Quebec, Commission Notice 14-101;

AND WHEREAS the Applicant has represented to the Decision Makers that:

1. the sole outstanding security of the Applicant is held by one unitholder, being the settlor of the trust that constitutes the Applicant;

2. the Applicant became a reporting issuer in each Jurisdiction upon filing a prospectus (the "Prospectus") and receiving a Mutual Reliance Review System decision document therefore on April 25, 2003;

3. no securities of the Applicant were distributed to the public in connection with the Prospectus;

4. no securities of the Applicant are traded on a marketplace as defined in National Instrument 21-101 -- Marketplace Operation;

5. the Applicant has no plans to seek public financing by offering its securities in Canada;

6. 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

7. the Applicant is in technical default of its obligation to file and deliver its interim financial statements for the period ended September 30, 2003 but is not otherwise in default of any obligations under the Legislation as a reporting issuer,

AND WHEREAS under the System this MRRS Decision Document evidences the decision of each Decision Maker (collectively, the "Decision");

AND WHEREAS 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;

THE DECISION of the Decision Makers under the Legislation is that the Applicant is deemed to have ceased to be a reporting issuer under the Legislation.

April 14, 2004.