Notice of Exemption Order – Application for Exemption – Canadian Depository for Securities Limited and CDS Clearing and Depository Services Inc.

On December 16, 2014, the Ontario Securities Commission (Commission) issued an order pursuant to section 147 of the Securities Act (Ontario) (Order) exempting CDS and CDS Clearing (collectively CDS) from complying with the requirement in section 2.3 of Schedule “B” of CDS' recognition order (Recognition Order) which requires the board of directors of CDS to provide a written report to the Commission at least annually, or as required by the Commission, describing how CDS is meeting its public interest responsibility. CDS has other requirements in its Recognition Order that require CDS to operate in the public interest and CDS is required to annually certify that it is meeting such requirements.

The Order is published in Chapter 2 of this Bulletin.