Securities Law & Instruments

Headnote

Respondents to a management and other insider cease trade order were included in the order requested by the issuer by mistake. Neither respondent fell within the definition of "Defaulting Management and Other Insiders" in OSC Policy 57-603 Defaults by Reporting Issuers in Complying with Financial Statement Filing Requirements since they had each resigned as an officer or director of the issuer prior to end of the period covered by the last financial statements filed by the issuer. Order varied to remove the applicants as respondents.

Statute Cited

Securities Act, R.S.O. 1990, c. S.5, as am., s. 144.

Policy Cited

OSC Policy 57-603 Defaults by Reporting Issuers in Complying with Financial Statement Filing Requirements.

IN THE MATTER OF

THE SECURITIES ACT

R.S.O. 1990, c. S.5, AS AMENDED (the "Act")

AND

IN THE MATTER OF

DYNAMIC FUEL SYSTEMS INC.

AND

IN THE MATTER OF

THOMAS FAIRFULL, GERALD FELDMAN,

DOUG PATTISON, DAVID WHITNALL,

ALLEN KOFFMAN, RON PERRY,

GERALD L. SOLENSKY JR. AND HENRY HARRIS

 

ORDER

(Section 144)

WHEREAS a director of the Commission made an order under paragraph 2 and paragraph 2.1 of subsection 127(1) and subsection 127(5) of the Act on the 2nd day of May, 2007 (the "Temporary Order"), that all trading in and all acquisitions of securities of Dynamic Fuel Systems Inc. (the "Reporting Issuer"), whether direct or indirect, by any of Thomas Fairfull, Gerald Feldman, Doug Pattison, David Whitnall, Allen Koffman, Ron Perry, Gerald L. Solensky Jr. and Henry Harris (the "Respondents") cease for a period of fifteen days from the date of the Temporary Order;

AND WHEREAS Henry Harris and Allen Koffman (the "Applicants") have made an application pursuant to section 144 of the Act to vary the MCTO to remove them as Respondents and parties to the Temporary Order;

AND UPON the Applicants having represented to the Commission that:

1. Henry Harris resigned as an officer of the Reporting Issuer on August 30, 2006.

2. Allen Koffman resigned as a director of the Reporting Issuer on July 21, 2006.

3. Neither of the Applicants is, or was, at any time since the end of the period covered by the last financial statements filed by the Reporting Issuer, namely, September 30, 2006, a director, officer or other insider of the Reporting Issuer.

AND UPON considering the application and the recommendation of the staff of the Commission;

AND WHEREAS the Commission is of the opinion that it would not be prejudicial to the public interest to make this Order;

IT IS ORDERED, pursuant to section 144 of the Act, that the Temporary Order be and is hereby varied solely to remove the Applicants as Respondents and parties to the Temporary Order.

DATED at Toronto, this 7th day of May, 2007.

"Jo-Anne Matear"
Assistant Manager, Corporate Finance Branch
Ontario Securities Commission