Securities Law & Instruments

Headnote

Cease-trade order revoked where the issuer hasremedied its default in spect of disclosure requirements underthe Act.

Statutes Cited

Securities Act, R.S.O. 1990, c. S.5, as am.,ss. 127(1)2, 127(5), 127(8), 144.

IN THE MATTER OF

THE SECURITIES ACT

R.S.O. 1990, C. S.5, AS AMENDED(the "Act")

AND

IN THE MATTER OF

FOOTMAXX HOLDINGS INC.

(The "Corporation")

 

ORDER

(Section 144)

WHEREAS the securities of the Corporationare subject to a Temporary Order of the Director dated May 22,2002 under paragraph 127(1)2 and subsection 127(5) of the Actextended by the Order of the Director dated June 3, 2002 (collectivelyreferred to as the "Cease Trade Order") directingthat trading in the securities of the Corporation cease;

AND WHEREAS the Corporation has appliedto the Ontario Securities Commission (the "Commission")for revocation of the Cease Trade Order pursuant to section144 of the Act;

AND UPON the Corporation having representedto the Commission that:

1. The Corporation was incorporated underthe laws of Ontario on September 23, 1935 and is a reportingissuer under the Act.

2. The Cease Trade Order was issued as a resultof the Corporation's failure to file its annual financialstatements for the fiscal year ended December 31, 2001 (the"Financial Statements").

3. The Common Shares of the Corporation werehalted from trading on the TSX Venture Exchange on May 22,2002 for failure to meet its continuous disclosure requirements.

4. On July 25, 2002, the Corporation filedits December 31, 2001 Financial Statements and on July 30,2002 filed March 31, 2002 three-month interim statements.The Corporation has now brought its Continuous Disclosurefilings up to date.

5. Except for the Cease Trade Order, the Corporationis not otherwise in default of any of the requirements ofthe Act or Regulation;

AND UPON considering the applicationand the recommendation of the Staff of the Commission;

AND UPON the Commission being satisfiedthat to do so would not be prejudicial to the public interest;

IT IS ORDERED under section 144 of theAct that the Cease Trade Order be revoked.

August 2, 2002.

"John Hughes"