Securities Law & Instruments

Headnote

Mutual Reliance Review System for ExemptiveRelief Applications - Decision declaring corporation to be nolonger a reporting issuer following the acquisition of all ofits outstanding securities by another issuer.

Applicable Ontario Statutory Provisions

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

IN THE MATTER OF

THE SECURITIES LEGISLATIONOF

ALBERTA, ONTARIO AND QUÉBEC

AND

IN THE MATTER OF

THE MUTUAL RELIANCE REVIEWSYSTEM

FOR EXEMPTIVE RELIEF APPLICATIONS

AND

IN THE MATTER OF

APPLIED TERRAVISION SYSTEMSINC.

 

MRRS DECISION DOCUMENT

1. WHEREAS the local securities regulatoryauthority or regulator (the "Decision Maker") ineach of Alberta, Ontario and Québec (the "Jurisdictions")has received an application from Applied Terravision SystemsInc. ("ATS") for a decision under the securitieslegislation of the Jurisdictions (the "Legislation")that ATS be deemed to have ceased to be a reporting issuerunder the Legislation;

2. AND WHEREAS under the Mutual RelianceReview System for Exemptive Relief Applications (the "System"),the Alberta Securities Commission is the principal regulatorfor this application;

3. AND WHEREAS ATS has representedto the Decision Makers that:

3.1 ATS was incorporated under the CompaniesAct (Alberta) as 124296 Resources Ltd. on September11, 1978 and was continued under the Business CorporationsAct (Alberta) by articles of continuance on December20, 1982;

3.2 the authorized capital of ATS consistsof an unlimited number of common shares (the "CommonShares"), of which there are currently 39,412,462 issuedand outstanding and an unlimited number of preferred sharesissuable in series of which none are outstanding;

3.3 ATS is a reporting issuer in each ofthe Jurisdictions;

3.4 other than failing to file financialstatements subsequent to the amalgamation described hereinfor the second quarter ending March 31, 2002, ATS is notin default of any of its obligations as a reporting issuerunder the Legislation;

3.5 pursuant to an amalgamation agreementdated March 15, 2002 Cognicase Inc. ("Cognicase")became the holder of all of the issued and outstanding CommonShares;

3.6 Cognicase is the sole registered securityholder of ATS and there are no securities, including publicdebt obligations, currently issued and outstanding otherthan the Common Shares;

3.7 The TSX Venture Exchange has effectiveat the close of business on April 3, 2002 delisted the CommonShares from trading and there are no securities of ATS listedon any exchange or traded over the counter in Canada orelsewhere;

3.8 ATS does not intend to seek public financingby way of an offering of securities.

4. AND WHEREAS under the System, thisMRRS Decision Document evidences the decision of each DecisionMaker (collectively, the "Decision");

5. AND WHEREAS each of the DecisionMakers is satisfied that the test contained in the Legislationthat provides the Decision Maker with the jurisdiction tomake the Decision has been met;

6. THE DECISION of the Decision Makersunder the Legislation is that ATS is deemed to no longer bea reporting issuer under the Legislation.

August 20, 2002.

"Patricia M. Johnston"