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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

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

IMAX Corporation
(Name of Issuer)
 
Common Stock
(Title of Class of Securities)
 
45245E109
(CUSIP Number)
 
December 31, 2008
(Date of Event Which Requires Filing of this Statement)

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

  x Rule 13d-1(b)

¨ 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).

PAGE 1 OF 8 PAGES


CUSIP No. 45245E109

1          NAME OF REPORTING PERSON    
           Manulife Financial Corporation    
       
2          CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*   (a) ¨
                (b) ¨
           N/A            
           
3          SEC USE ONLY        
         
4          CITIZENSHIP OR PLACE OF ORGANIZATION    
           Canada            
           
        5   SOLE VOTING POWER    
            -0-    
             
Number of   6   SHARED VOTING POWER    
Shares            
Beneficially       -0-    
Owned by            
     Each   7   SOLE DISPOSITIVE POWER    
Reporting            
Person       -0-    
     With            
        8   SHARED DISPOSITIVE POWER    
            -0-    
           
9          AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON    
           None, except through its indirect, wholly-owned subsidiaries, MFC Global Investment Management (U.S.), LLC and
           Elliott & Page Limited    
       
10          CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*    
           N/A            
           
11          PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9    
           See line 9 above.        
         
12          TYPE OF REPORTING PERSON*    
           HC            
                 

*SEE INSTRUCTIONS

PAGE 2 OF 8 PAGES


CUSIP No. 45245E109

1          NAME OF REPORTING PERSON    
           MFC Global Investment Management (U.S.), LLC    
       
2          CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*   (a) ¨
                (b) ¨
           N/A            
           
3          SEC USE ONLY        
         
4          CITIZENSHIP OR PLACE OF ORGANIZATION    
           Delaware            
           
        5   SOLE VOTING POWER    
            1,784,133    
           
Number of   6   SHARED VOTING POWER    
Shares            
Beneficially       -0-    
Owned by            
       Each   7   SOLE DISPOSITIVE POWER    
Reporting            
Person       1,784,133    
       With            
             
        8   SHARED DISPOSITIVE POWER    
            -0-    
           
9          AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON    
           1,784,133            
           
10          CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*    
           N/A            
           
11          PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9    
           4.11%            
           
12          TYPE OF REPORTING PERSON*    
           IA            
                 

*SEE INSTRUCTIONS

PAGE 3 OF 8 PAGES


CUSIP No. 45245E109

1          NAME OF REPORTING PERSON    
           Elliott & Page Limited    
       
2          CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*   (a) ¨
                (b) ¨
           N/A            
           
3          SEC USE ONLY        
         
4          CITIZENSHIP OR PLACE OF ORGANIZATION    
           Ontario            
           
        5   SOLE VOTING POWER    
            8,850    
             
Number of   6   SHARED VOTING POWER    
Shares            
Beneficially       -0-    
Owned by            
      Each   7   SOLE DISPOSITIVE POWER    
Reporting            
Person       8,850    
      With            
        8   SHARED DISPOSITIVE POWER    
            -0-    
           
9          AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON    
           8,850            
           
10          CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*    
           N/A            
           
11          PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9    
           0.02%            
           
12          TYPE OF REPORTING PERSON*    
           FI            
                 

*SEE INSTRUCTIONS

PAGE 4 OF 8 PAGES


Item 1(a)   Name of Issuer:        
    IMAX Corporation        
 
Item 1(b)   Address of Issuer's Principal Executive Offices:
    2525 Speakman Drive        
    Mississauga, Ontario        
    Canada L5K 1B1        
 
Item 2(a)   Name of Person Filing:        
    This filing is made on behalf of Manulife Financial Corporation (“MFC”) and MFC’s
    indirect, wholly-owned subsidiaries, MFC Global Investment Management (U.S.), LLC
    (“MFC Global (U.S.)”) and Elliott & Page Limited (“E&P”).
 
Item 2(b)   Address of Principal Business Office:    
    The principal business offices of MFC and E&P are located at 200 Bloor Street East, Toronto,
    Ontario, Canada, M4W 1E5.        
    The principal business office of MFC Global (U.S.) is located at 101 Huntington Avenue,
    Boston, Massachusetts 02199.        
 
Item 2(c)   Citizenship:        
    MFC is organized and exists under the laws of Canada.
    MFC Global (U.S.) is organized and exists under the laws of the State of Delaware.
    E&P is organized and exists under the laws of Ontario.
 
Item 2(d)   Title of Class of Securities:        
    Common Stock        
 
Item 2(e)   CUSIP Number:        
    45245E109        
 
Item 3   If this statement is being filed pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c),
    check whether the person filing is a:    
 
    MFC:   (g) (X)   a parent holding company in accordance with
            §240.13d-1(b)(1)(ii)(G).
 
    MFC Global (U.S.):   (e) (X)   an investment adviser in accordance with
            §240.13d-1(b)(1)(ii)(E).
 
    E&P:   (j) (X)   a non-U.S. institution in accordance with
            §240.13d-1(b)(1)(ii)(J).
 
Item 4   Ownership:        
 
    (a)         Amount Beneficially Owned: MFC Global (U.S.) has beneficial ownership of 1,784,133
              shares of Common Stock and E&P has beneficial ownership of 8,850 shares of Common
              Stock. Through its parent-subsidiary relationship to MFC Global (U.S.) and E&P, MFC
              may be deemed to have beneficial ownership of these same shares.

PAGE 5 OF 8 PAGES


    (b)   Percent of Class: Of the 43,462,297 shares outstanding as of October 31, 2008,
        according to the issuer's Quarterly Report on Form 10-Q for the period ended September
        30, 3008, MFC Global (U.S.) held 4.11% and E&P held 0.02%.
 
    (c)   Number of shares as to which the person has:
 
           (i)   sole power to vote or to direct the vote:
            MFC Global (U.S.) and E&P each has sole power to vote or to direct the voting
            of the shares of Common Stock beneficially owned by each of them.
 
           (ii)   shared power to vote or to direct the vote: -0-
 
           (iii)   sole power to dispose or to direct the disposition of:
            MFC Global (U.S.) and E&P each has sole power to dispose or to direct the
            disposition of the shares of Common Stock beneficially owned by each of them.
 
           (iv)   shared power to dispose or to direct the disposition of: -0-
 
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:
    See Items 3 and 4 above.
 
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 the undersigned certifies that, to the best of its knowledge and belief, (i) the
    securities referred to above were acquired and are held in the ordinary course of business and
    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, and (ii) the
    foreign regulatory scheme applicable to E&P is substantially comparable to the regulatory
    scheme applicable to the functionally equivalent U.S. institutions. The undersigned also
    undertakes to furnish to the Commission staff, upon request, information that would otherwise
    be disclosed in a Schedule 13D.

PAGE 6 OF 8 PAGES


SIGNATURE

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

    Manulife Financial Corporation
 
    By:   /s/ Kenneth G. Pogrin
    Name:   Kenneth G. Pogrin
Dated: February 12, 2009   Title:   Attorney in Fact*
 
    MFC Global Investment Management (U.S.), LLC
 
    By:   /s/ William E. Corson
    Name:   William E. Corson
Dated: February 12, 2009   Title:   Vice President and Chief Compliance Officer
 
    Elliott & Page Limited
 
    By:   /s/ Kenneth G. Pogrin
    Name:   Kenneth G. Pogrin
Dated: February 12, 2009   Title:   Associate General Counsel and Assistant Secretary

* Signed pursuant to a Power of Attorney dated January 17, 2008 included as an Exhibit to Schedule 13G filed with the Securities and Exchange Commission by Manulife Financial Corporation on January 24, 2008.

PAGE 7 OF 8 PAGES


EXHIBIT A


JOINT FILING AGREEMENT

     Manulife Financial Corporation, MFC Global Investment Management (U.S.), LLC and Elliott & Page Limited agree that the Schedule 13G (Amendment No. 2) to which this Agreement is attached, relating to the Common Stock of IMAX Corporation, is filed on behalf of each of them.

    Manulife Financial Corporation
 
    By:   /s/ Kenneth G. Pogrin
    Name:   Kenneth G. Pogrin
Dated: February 12, 2009   Title:   Attorney in Fact*
 
    MFC Global Investment Management (U.S.), LLC
 
    By:   /s/ William E. Corson
    Name:   William E. Corson
Dated: February 12, 2009   Title:   Vice President and Chief Compliance Officer
 
    Elliott & Page Limited
 
    By:   /s/ Kenneth G. Pogrin
    Name:   Kenneth G. Pogrin
Dated: February 12, 2009   Title:   Associate General Counsel and Assistant Secretary

* Signed pursuant to a Power of Attorney dated January 17, 2008 included as an Exhibit to Schedule 13G filed with the Securities and Exchange Commission by Manulife Financial Corporation on January 24, 2008.

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