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EXHIBIT 31

CERTIFICATIONS

I, Jeffrey C. Heath, certify that:

|1. |  | I have reviewed this report on Form 10-K of Scotiabank Covered Bond Guarantor Limited
Partnership (the “Exchange Act periodic reports”);
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|2. |  | Based on my knowledge, the Exchange Act periodic reports, taken as a whole, do not
contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light
of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
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|3. |  | Based on my knowledge and the Servicer Compliance Statement required in this report
under Item 1123 of Regulation AB, and except as disclosed in the Exchange Act periodic reports, the Servicer and the Cash Manager
have fulfilled their obligations under the Servicing Agreement and the Cash Management Agreement in all material respects; and
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|4. |  | All of the reports on assessment of compliance with servicing criteria for asset-backed
securities and their related attestation reports on assessment of compliance with servicing criteria for asset-backed securities
required to be included in this report in accordance with Item 1122 of Regulation AB and Exchange Act Rules 13a-18 and 15d-18
have been included as an exhibit to this report, except as otherwise disclosed in this report. Any material instances of noncompliance
described in such reports have been disclosed in this report on Form 10-K.
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January 29, 2014

| | /s/ Jeffrey C. Heath                                         
| | -------------------------------------------------------------
| | Jeffrey C. Heath                                             
| | Executive Vice-President and Group Treasurer                 
| | (senior officer in charge of securitization of the depositor)