IN THE MATTER OF THE SECURITIES ACT,
R.S.O. 1990, c. S.5, AS AMENDED
- AND -
IN THE MATTER OF
ONIX INTERNATIONAL INC. and TYRONE CONSTANTINE PHIPPS
- AND -
IN THE MATTER OF A SETTLEMENT AGREEMENT BETWEEN STAFF OF THE ONTARIO SECURITIES COMMISSION AND ONIX INTERNATIONAL INC. AND TYRONE CONSTANTINE PHIPPS
(Sections 37 and 127(1) of the Securities Act)
WHEREAS by Notice of Hearing dated March 8, 2013, the Ontario Securities Commission (the “Commission”) announced that it proposed to hold a hearing, commencing on April 3, 2013, pursuant to sections 37, 127, and 127.1 of the Securities Act, R.S.O. 1990, c. S.5, as amended (the “Act”), to consider whether it is in the public interest to make orders, as specified therein, against Onix International Inc. (“Onix International”) and Tyrone Constantine Phipps (“Phipps”) (collectively the "Respondents"). The Notice of Hearing was issued in connection with the allegations as set out in the Statement of Allegations of Staff of the Commission (“Staff’) dated March 7, 2013;
AND WHEREAS the Respondents entered into a settlement agreement with Staff dated June 21, 2013 (the "Settlement Agreement") in which the Respondents agreed to a proposed settlement of the proceeding commenced by the Notice of Hearing dated March 8, 2013, subject to the approval of the Commission;
AND WHEREAS on June 24, 2013, the Commission issued a Notice of Hearing pursuant to sections 37 and 127 of the Act to announce that it proposed to hold a hearing to consider whether it is in the public interest to approve the Settlement Agreement (the “Hearing”);
AND WHEREAS on June 26, 2013, Phipps and Staff attended the Hearing and made submissions;
AND WHEREAS the Commission is of the opinion that it is in the public interest to make this order;
IT IS HEREBY ORDERED that the Hearing is adjourned to July 16, 2013 at 3:30 p.m. or to such other date or time as agreed to by the parties and set by the Office of the Secretary.
DATED at Toronto this 26th day of June, 2013.
Vern Krishna, CM, QC