Securities Law & Instruments

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

- AND -

IN THE MATTER OF
ROBERT JAMES EMERSON

ORDER
(Section 127 and 127.1)

WHEREAS on February 11, 2002 the Ontario Securities Commission (the "Commission") issued a Notice of Hearing pursuant to sections 127 and 127.1 of the Securities Act, R.S.O. 1990 c.S.5, as amended (the "Act") in respect of Robert James Emerson ("Emerson");

AND WHEREAS Emerson entered into a settlement agreement dated February 11, 2002 (the "Settlement Agreement") in which he agreed to a proposed settlement of the proceeding, subject to the approval of the Commission;

AND UPON reviewing the Settlement Agreement and the Statement of Allegations of Staff of the Commission, and upon hearing submissions from the respondent and from Staff of the Commission;

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

IT IS ORDERED THAT:

  1. the Settlement Agreement dated February 11th, 2002 attached to this Order is hereby approved;

  2. pursuant to clause 2 of subsection 127(1) of the Act, effective from the date of this Order, Emerson shall cease trading in securities for a period of five years, with the exception of any sale by Emerson of Emerson's Current Interest in 1279514 Ontario Inc., as more particularly described in the Settlement Agreement;

  3. pursuant to clause 8 of subsection 127(1) of the Act, Emerson is prohibited from becoming or acting as an officer of a reporting issuer in Ontario, a director of an issuer in Ontario, and an officer or director of any issuer which has an interest in any registrant, for a period of five years effective from the date of this Order, except that Emerson may continue in his position as sole officer and director of Erinlee Holdings Inc.

  4. pursuant to clause 6 of subsection 127(1) of the Act, Emerson is hereby reprimanded.

DATED at Toronto this 19th day of February, 2002

 

______________________
Paul M. Moore
______________________
R. Stephen Paddon
______________________
Mary Theresa McLeod