Securities Law & Instruments

Headnote

Cease-trade order revoked where the issuer hasremedied its default in respect 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

RESORTS UNLIMITED MANAGEMENTINC.

 

ORDER

(SECTION 144)

WHEREAS the securities of RESORTS UNLIMITEDMANAGEMENT INC. ("RESORTS") are subject to a TemporaryOrder (the "Temporary Order") of the Director madeon behalf of the Ontario Securities Commission (the "Commission"),pursuant to paragraph 2 subsection 127(1) and subsection 127(5)of the Act, on June 4, 2002 as extended by further order (the"Extension Order" and collectively, the "CeaseTrade Order") of the Director, made on June 14, 2002, onbehalf of the Commission pursuant to subsection 127(8) of theAct, that trading in the securities of RESORTS cease until theTemporary Order, as extended by the Extension Order, is revokedby a further Order of Revocation;

AND UPON RESORTS having applied to theCommission pursuant to section 144 of the Act for an Order revokingthe Cease Trade Order;

AND UPON RESORTS having represented tothe Commission that:

1. RESORTS is a British Columbia corporation,with the head office located in Edmonton, Alberta and hasbeen a reporting issuer in the Province of Ontario since November3, 1980;

2. The Temporary Order was issued due to thefailure of RESORTS to file with the Commission audited annualfinancial statements for the year ended December 31, 2001(the"Financial Statements") and interim financial statements(the "Interim Financial Statements") for the periodended March 31, 2002 as required by the Act;

3. The Financial Statements for the year endedDecember 31, 2001and the Interim Financial Statements forthe periods ended March 31, 2002 and June 30, 2002 were filedwith the Commission via SEDAR on August 16, 2002, August 29,2002 and August 29, 2002, respectively;

4. Except for a Cease Trade Order, RESORTSis not otherwise in default of any requirements of the Actor the regulation made thereunder;

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

AND UPON the Commission being satisfiedthat RESORTS is now current with the continuous disclosure requirementsunder Part XVIII of the Act and has remedied its default inrespect of such requirements;

AND UPON the Commission being of theopinion that to do so would not be prejudicial to the publicinterest;

IT IS ORDERED pursuant to section 144of the Act that the Cease Trade Order be and is hereby revoked.

October 1, 2002.

"John Hughes"