Issuer deemed to have ceasedto be reporting issuer under the Act.
Applicable Ontario StatutoryProvisions
Securities Act, R.S.O. 1990,c.S.5, as am., ss. 1(1), 6(3) and 83.
IN THE MATTER OF
THE SECURITIES ACT, R.S.O.1990, CHAPTER S. 5,
AS AMENDED (THE "ACT")
IN THE MATTER OF
SANCHEZ COMPUTER ASSOCIATES,INC.
(FORMERLY "SPECTRA SECURITIESSOFTWARE INC.")
(SECTION 83 OF THE ACT)
UPON the applicationof Sanchez Computer Associates, Inc. (formerly Spectra SecuritiesSoftware Inc.) ("Spectra") for an order underSection 83 of the Act that Spectra be deemed to have ceasedto be a reporting issuer under the Act;
AND UPON consideringthe application and the recommendation of the Commission;
AND UPON it being representedby Spectra to the Commission that:
1. Spectra is a corporationgoverned by the Business Corporations Act (Ontario)(the "OBCA") pursuant to Articles of Arrangementdated July 3, 2002;
2. Spectra became a reportingissuer under the Act on December 15, 2000 and is not in defaultof the requirements of the Act;
3. the authorised capitalof Spectra consists of an unlimited number of common shares(the "Spectra Shares") of which 100 common sharesare issued and outstanding.
4. pursuant to a plan of arrangementcompleted under Section 182 of the OBCA effective July 3,2002 (the "Arrangement"), Sanchez ComputerAssociates, Inc., a corporation existing under the laws ofthe Commonwealth of Pennsylvania, ("Sanchez")indirectly acquired all of the issued and outstanding commonshares (the "Shares") of Spectra;
5. as a result of the Arrangement,Sanchez indirectly holds all of the issued and outstandingsecurities of Spectra;
6. the Shares are not andnever have been quoted or listed for trading on any exchange;
7. other than the Shares,Spectra has no securities, including debt securities, outstanding;and
8. Spectra does not intendto seek public financing by way of an offering of its securities.
AND UPON the Commissionbeing satisfied that to do so would not be prejudicial to thepublic interest;
IT IS ORDERED pursuantto Section 83 of the Act that Spectra is deemed to have ceasedto be a reporting issuer under the Act effective as at the dateof this order;
July 19, 2002.