Proceedings

PDF Version
PDF Version




IN THE MATTER OF THE SECURITIES ACT,
R.S.O. 1990, c. S.5 AS AMENDED

- AND -

INNOVATIVE GIFTING INC., TERENCE LUSHINGTON, Z2A CORP.,
and CHRISTINE HEWITT

ORDER
(Section 127)



WHEREAS on February 20, 2009, the Ontario Securities Commission (the "Commission") issued a temporary cease trade order pursuant to subsections 127(1) and 127(5) of the Securities Act, R.S.O. 1990, c. S.5, as amended (the "Act") ordering, inter alia, that all trading in securities by Innovative Gifting Inc. (“IGI”) shall cease (the “Temporary Order”);

AND WHEREAS, on February 20, 2009, the Commission ordered that the Temporary Order shall expire on the 15th day after its making unless extended by order of the Commission;

AND WHEREAS on February 23, 2009 the Commission issued a Notice of Hearing to consider, among other things, the extension of the Temporary Order, to be held on March 6, 2009 at 10:00 a.m.;

AND WHEREAS the Notice of Hearing set out that the Hearing was to consider, inter alia, whether, in the opinion of the Commission, it was in the public interest, pursuant to subsections 127 (7) and (8) of the Act, to extend the Temporary Order until the conclusion of the hearing, or until such further time as considered necessary by the Commission;

AND WHEREAS on March 6, July 10, November 30, 2009 and on February 3, 2010, hearings were held before the Commission and the Commission ordered that the Temporary Order be extended;

AND WHEREAS on February 3, 2010, the Commission ordered that the Temporary Order be extended until March 8, 2010 and the hearing with respect to the matter be adjourned to March 5, 2010;

AND WHEREAS on March 2, 2010, the Commission issued a Notice of Hearing to consider, inter alia, whether to make orders, pursuant to sections 127, and 127.1 of the Act, against IGI, Terence Lushington (“Lushington”), Z2A Corp. (“Z2A”), and Christine Hewitt (“Hewitt”) (collectively the “Respondents”);

AND WHEREAS on March 2, 2010, Staff of the Commission issued a Statement of Allegations against the Respondents;

AND WHEREAS Staff served the Respondents with the Notice of Hearing dated March 2, 2010 and Staff’s Statement of Allegations dated March 2, 2010. Service by Staff was evidenced by the Affidavit of Service of Joanne Wadden, sworn on March 4, 2010, which was filed with the Commission;

AND WHEREAS on March 5, 2010, counsel for Staff and counsel for IGI and Lushington appeared before the Commission and made submissions;

AND WHEREAS on March 5, 2010, counsel for Staff requested an extension of the Temporary Order as against IGI;

AND WHEREAS on March 5, 2010, counsel for IGI and Lushington consented to the extension of the Temporary Order as against IGI;

AND WHEREAS on March 5, 2010, counsel for Staff advised the Commission that Z2A and Hewitt were represented by counsel and that counsel for Z2A and Hewitt was not opposed to adjourning the hearing to April 12, 2010;

AND WHEREAS on March 5, 2010, counsel for Staff advised the Commission that Staff were preparing disclosure for the Respondents and that Staff anticipated disclosure would be available by April 12, 2010;

AND WHEREAS the Commission is of the opinion that it is in the public interest to make this order;

IT IS ORDERED that, pursuant to subsection 127(8) of the Act, the Temporary Order is extended as against IGI until April 13, 2010; and

IT IS FURTHER ORDERED that the hearing with respect to the Notice of Hearing dated March 2, 2010 and with respect to the Temporary Order is adjourned to April 12, 2010, at 9:45 a.m.

DATED at Toronto this 8th day of March, 2010.

 

 

" David L. Knight "
David L. Knight, FCA