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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
Brascan Corporation
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(Name of Issuer)
Class A Limited Voting Shares, No Par Value
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(Title of Class of Securities)
10549 P 60 6
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(CUSIP Number)
September 5, 2001
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(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:
/ / Rule 13d-1(b)
/x/ Rule 13d-1(c)
/ / Rule 13d-1(d)
____________________________
* The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which
would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section
of the Act but shall be subject to all other provisions of the Act (however,
SEE the NOTES).
Sec 1745 (6/01)
CUSIP No. 10549 P 60 6 13G PAGE 2 OF 4 PAGES
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(1) Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
BNN Investments Ltd.
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(2) Check the Appropriate Box if a Member (a) / /
of a Group (See Instructions) (b) / /
Not applicable
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(3) SEC Use Only
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(4) Citizenship or Place of Organization
Ontario, Canada
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Number of Shares (5) Sole Voting Power
Beneficially 9,612,200
Owned by --------------------------------------------------
Each Reporting (6) Shared Voting Power
Person With: 0
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(7) Sole Dispositive Power
9,612,200
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(8) Shared Dispositive Power
0
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(9) Aggregate Amount Beneficially Owned by Each Reporting Person
9,612,200
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(10) Check box if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions)
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(11) Percent of Class Represented by Amount in Row (9)
5.6%
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(12) Type of Reporting Person (See Instructions)
CO
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2
ITEM 1.
(a) NAME OF ISSUER
The name of the issuer is Brascan Corporation (the "Company").
(b) ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES
The principal executive offices of the Company are located at
181 Bay Street, Suite 4400,
Toronto, Ontario
M5J 2T3
ITEM 2.
(a) NAME OF PERSON FILING
This statement is being filed by BNN Investments Ltd. ("BNN
Investments").
(b) ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE
The address of the principal business office of the reporting
person is
181 Bay Street, Suite 4440,
Toronto, Ontario
M5J 2T3
(c) CITIZENSHIP
Province of Ontario, Canada.
(d) TITLE OF CLASS OF SECURITIES
The securities to which this statement relates are Class A Limited
Voting Shares, no par value (the "Class A Shares"), of the Company.
(e) CUSIP NUMBER
The CUSIP number of the Class A Shares is 10549 P 60 6.
ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO SECTIONS 240.13d-1(b) OR
240.13d-2(b) OR (c), CHECK WHETHER THE PERSON FILING IS A:
Not applicable.
ITEM 4. OWNERSHIP
(a) As of September 5, 2001 BNN Investments beneficially owned 9,612,200
Class A Shares, all of which Class A Shares are directly owned by BNN
Split Corp., a wholly owned subsidiary of BNN Investments.
(b) The shares owned beneficially by BNN Investments represented
approximately 5.6% of the issued and outstanding Class A Shares as of
September 5, 2001.
(c) As of September 5, 2001, BNN Investments had the sole power to vote
or to direct the voting of the Class A Shares and had the sole power
to dispose of or to direct the disposition of the Class A Shares.
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS
Not applicable.
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ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON
Not applicable.
ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED
THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY
See Exhibit I.
ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP
Not applicable.
ITEM 9. NOTICE OF DISSOLUTION OF GROUP
Not applicable.
ITEM 10. CERTIFICATION
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were not acquired and are
not held for the purpose of or with the effect of changing or
influencing the control of the issuer of the securities and were not
acquired and are not held in connection with or as a participant in
any transaction having that purpose or effect.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete
and correct.
As of November 22, 2001 BNN INVESTMENTS LTD.
By: /s/ Brian D. Lawson
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Name: Brian D. Lawson
Title: President
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