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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13G

Under the Securities Exchange Act of 1934
(Amendment No. 2)

ROYAL GROUP TECHNOLOGIES LIMITED


(Name of Issuer)

Subordinate Voting Shares


(Title of Class of Securities)

779915 10 7


(Cusip Number)

December 31, 2003


(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

        o Rule 13d-1 (b)

        x Rule 13d-1 (c)

        o 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 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).

 


 

             
13G
CUSIP No. 779915 10 7 Page 2 of 10

  1. Name of Reporting Person:
The Bank of Nova Scotia
I.R.S. Identification Nos. of above persons (entities only):

  2. Check the Appropriate Box if a Member of a Group:
    (a) o  
    (b) o  

  3. SEC Use Only:

  4. Citizenship or Place of Organization:
Canada

Number of
Shares
Beneficially
Owned by
Each Reporting
Person With
5. Sole Voting Power:
136,724

6. Shared Voting Power:
3,705,090

7. Sole Dispositive Power:
136,724

8.Shared Dispositive Power:
3,705,090

  9.Aggregate Amount Beneficially Owned by Each Reporting Person:
3,841,814 at December 31, 2003

  10.Check if the Aggregate Amount in Row (9) Excludes Certain Shares:
o

  11.Percent of Class Represented by Amount in Row (9):
4.75%

  12.Type of Reporting Person:
CO

2


 

             
13G
CUSIP No. 779915 10 7 Page 3 of 10

  1. Name of Reporting Person:
Scotiabank (Ireland) Limited
I.R.S. Identification Nos. of above persons (entities only):

  2. Check the Appropriate Box if a Member of a Group:
    (a) o  
    (b) o  

  3. SEC Use Only:

  4. Citizenship or Place of Organization:
The Republic of Ireland

Number of
Shares
Beneficially
Owned by
Each Reporting
Person With
5. Sole Voting Power:
0

6. Shared Voting Power:
3,600,000

7. Sole Dispositive Power:
0

8.Shared Dispositive Power:
3,600,000

  9.Aggregate Amount Beneficially Owned by Each Reporting Person:
3,600,000 at December 31, 2003

  10.Check if the Aggregate Amount in Row (9) Excludes Certain Shares:
o

  11.Percent of Class Represented by Amount in Row (9):
4.45%

  12.Type of Reporting Person:
CO

3


 

             
13G
CUSIP No. 779915 10 7 Page 4 of 10

  1. Name of Reporting Person:
Scotia Capital Inc.
I.R.S. Identification Nos. of above persons (entities only):

  2. Check the Appropriate Box if a Member of a Group:
    (a) o  
    (b) o  

  3. SEC Use Only:

  4. Citizenship or Place of Organization:
Canada

Number of
Shares
Beneficially
Owned by
Each Reporting
Person With
5. Sole Voting Power:
0

6. Shared Voting Power:
105,090

7. Sole Dispositive Power:
0

8.Shared Dispositive Power:
105,090

  9.Aggregate Amount Beneficially Owned by Each Reporting Person:
105,090 at December 31, 2003

  10.Check if the Aggregate Amount in Row (9) Excludes Certain Shares:
o

  11.Percent of Class Represented by Amount in Row (9):
0.13%

  12.Type of Reporting Person:
CO

4


 

     
Item 1(a).   Name of Issuer
     
    Royal Group Technologies Limited
     
Item 1(b).   Address of Issuer’s Principal Executive Offices
     
    Royal Group Technologies Limited
    1 Royal Gate Boulevard
    Woodbridge, Ontario, Canada
    L4L 8Z7
     
Item 2(a).   Name of Persons Filing
     
    The Bank of Nova Scotia (“Scotiabank”) and Scotia Capital Inc (“SCI”), a wholly-owned subsidiary of Scotiabank and Scotiabank (Ireland) Limited (“SIL”), an indirect wholly-owned subsidiary of Scotiabank.
     
    Of the subordinate voting shares reported herein as being the deemed aggregate amount beneficially owned by Scotiabank:
     
         
    (i)   136,724 are owned by Scotiabank directly;
         
    (ii)   105,090 are owned by SCI.
         
    (iii)   3,600,000 are owned by SIL (by way of an exchangeable debenture).
     
     
Item 2(b).   Address of Principal Business Office or, if None, Residence
     
Scotiabank:   The Bank of Nova Scotia
    Attention: Group Compliance
    44 King Street West
    Toronto, Ontario, Canada M5H 1H1
     
SCI:   Scotia Capital Inc.
    40 King Street West, 65th Floor
    Toronto, Ontario, Canada M5H 1H1
    Attention: Institutional Equity Sales & Trading
     
SIL   Scotiabank (Ireland) Limited
    I.F.S.C. House
    Custom House Quay
    Dublin 1, The Republic of Ireland

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Item 2(c).   Citizenship
 
    Scotiabank:   Organized under the laws of Canada.
    SCI:   Organized under the laws of the Province of Ontario, Canada.
    SIL:   Organized under the laws of The Republic of Ireland.
         
Item 2(d).   Title of Class of Securities
         
    Subordinate Voting Shares
 
Item 2(e).   CUSIP Number
         
    779915 10 7    
         
Item 3.   Filing Category
         
    Not applicable    
         
Item 4(a).   Amount Beneficially Owned
         
    Scotiabank:   136,724
         
    SCI:   105,090
         
    SIL:   3,600,000
         
Item 4(b).   Percent of Class
         
    Scotiabank:   0.17%
         
    SCI:   0.13%
         
    SIL:   4.45%
         
Item 4(c).   Number of shares as to which the Reporting Person has:
         
    (i) sole power to vote or direct the vote:
         
         Scotiabank:   136,724
         
         SCI:   0
         
         SIL:   0

6


 

         
(ii)   shared power to vote or direct the vote:
    Scotiabank:   3,705,090
         
    SCI:   105,090
         
    SIL:   3,600,000
         
(iii)   sole power to dispose or to direct the disposition:
         
    Scotiabank:   136,724
         
    SCI:   0
         
    SIL:   0
         
(iv)   shared power to dispose or to direct the disposition:
         
    Scotiabank:   3,705,090
         
    SCI:   105,090
         
    SIL:   3,600,000
     
Item 5.   Ownership of Five Percent or Less of a Class
     
    If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following [ X ]
     
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
     
    Not applicable
     
Item 8.   Identification and Classification of Members of the Group
     
    Not applicable.
     
Item 9.   Notice of Dissolution of Group
     
    Not applicable

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Item 10.   Certification
 
    By signing below, each signatory certifies that, to the best of the signatory’s 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.

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SIGNATURE

     After reasonable inquiry and to the best of the signatory’s knowledge and belief, each signatory certifies that the information set forth in this statement is true, complete and correct.

         
Dated: February 5, 2004        
         
    THE BANK OF NOVA SCOTIA
         
    By:   /s/ David Smith
       
    Name:   David Smith
    Title:   Vice-President, Group Compliance
         
    SCOTIA CAPITAL INC.
         
    By:   /s/ James Mountain
       
    Name:   James Mountain
    Title:   Managing Director
         
    SCOTIABANK (IRELAND) LIMITED
         
    By:   /s/ Robert Masters
       
    Name:   Robert Masters
    Title:   Unit Head

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EXHIBIT A

FILING AGREEMENT
AMONG
THE BANK OF NOVA SCOTIA,
SCOTIA CAPITAL INC. AND
SCOTIABANK (IRELAND) LIMITED

     The undersigned hereby agree that the Schedule 13G with respect to the Subordinate Voting Shares of Royal Group Technologies Limited dated of even date herewith is and shall be filed on behalf of each of us pursuant to and in accordance with the provisions of Rules 13d-1(c) and 13d-1(k)(1) under the Securities Exchange Act of 1934, as amended.

         
Dated: February 5, 2004        
         
    THE BANK OF NOVA SCOTIA
         
    By:   /s/ David Smith
       
    Name:   David Smith
    Title:   Vice-President, Group Compliance
         
    SCOTIA CAPITAL INC.
         
    By:   /s/ James Mountain
       
    Name:   James Mountain
    Title:   Managing Director
         
    SCOTIABANK (IRELAND) LIMITED
         
    By:   /s/ Robert Masters
       
    Name:   Robert Masters
    Title:   Unit Head

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