IN THE MATTER OF THE SECURITIES ACT
R.S.O. 1990, c. S.5, AS AMENDED
IN THE MATTER OF
WHEREAS on June 16, 1995, the Ontario Securities Commission (the "Commission") issued a Notice of Hearing pursuant to section 127 of the Securities Act, R.S.O. 1990, Chapter S.5, as amended (the "Act") in respect of Westall Parr ("Parr") and two others;
AND WHEREAS Parr and Staff of the Commission entered into a settlement agreement dated February 26, 1997, in which they agreed to a proposed settlement of these proceedings respecting Parr, subject to the approval of the Commission;
UPON reviewing the Settlement Agreement and hearing submissions of counsel on behalf of Parr and Staff of the Commission;
AND UPON THE COMMISSION being of the opinion that it is in the public interest to make this order;
IT IS ORDERED that:
1. The Settlement Agreement dated February 26, 1997, attached hereto, be and is hereby approved.
2. Pursuant to clause 3 of section 127(1) of the Act, all exemptions contained in Ontario securities law do not apply to Parr for a period of five years from the date of the approval of this Settlement Agreement, except that Parr may trade in securities in his Registered Retirement Savings Plan (as defined by the Income Tax Act) and in mutual funds and securities listed in clause 1 of subsection 35(2) of the Act, but all such trades to be in compliance with clause 10 of subsection 35(1) of the Act.
February 27th, 1997.
"J. F. Howard"
"G. P. H. Vernon"