Securities Law & Instruments


Headnote

Mutual Reliance Review System for Exemptive Relief Applications - Issuer deemed to haveceased to be a reporting issuer - Issuer has one security holder.

Applicable Ontario Statutory Provisions

Securities Act, R.S.O. 1990, c.S.5, as am., s.83.


IN THE MATTER OF THE SECURITIES LEGISLATION OF
BRITISH COLUMBIA, ALBERTA, SASKATCHEWAN, ONTARIO, QUEBEC, AND NEWFOUNDLAND

AND

IN THE MATTER OF THE
MUTUAL RELIANCE REVIEW SYSTEM FOR EXEMPTIVE RELIEF APPLICATIONS

AND

IN THE MATTER OF
INTERNATIONAL AQUA FOODS LTD.

MRRS DECISION DOCUMENT


WHEREAS the local securities regulatory authority or regulator (the "DecisionMaker") in each of British Columbia, Alberta, Saskatchewan, Ontario, Quebec andNewfoundland (the "Jurisdictions") has received an application from International AquaFoods Ltd. (the "Filer") for a decision under the securities legislation of the Jurisdictions(the "Legislation") that the Filer be deemed to have ceased to be a reporting issuer or theequivalent under the Legislation;

AND WHEREAS under the Mutual Reliance Review System for Exemptive ReliefApplications (the "System"), the Executive Director of the British Columbia SecuritiesCommission is the principal regulator for this application;

AND WHEREAS the Filer has represented to the Decision Makers that:

1. the Filer is a company incorporated under the laws of British Columbia andcontinued under the laws of Canada with its head office in British Columbia;

2. the Filer is a reporting issuer or the equivalent under the Legislation in each of theJurisdictions;

3. as a result of a take over bid and the subsequent compulsory acquisition procedure,all of the issued and outstanding securities of the Filer are owned by Stolt Sea FarmInc.;

4. no securities of the Filer are listed or quoted on any stock exchange or organizedmarket; and

5. the Filer does not intend to make an offering of its securities to the public;

AND WHEREAS under the System this MRRS Decision Document evidences thedecision of each Decision Maker (the "Decision");

AND WHEREAS each of the Decision Makers is satisfied that the test contained inthe Legislation that provides the Decision Maker with the jurisdiction to make the Decisionhas been met;

The Decision of the Decision Makers under the Legislation is that the Filer isdeemed to have ceased to be a reporting issuer or the equivalent under the Legislation.

February 15th, 2000.

"Margaret Sheehy"