Securities Law & Instruments

IN THE MATTER OF THE SECURITIES ACT, R.S.O. 1990, c. S.5, AS AMENDED AND IN THE MATTER OF HUSSAIN DHALA

ORDER (Subsections 127(1) and 127(10) of the Securities Act)

WHEREAS:

1. on November 17, 2015, the Ontario Securities Commission (the "Commission") issued a Notice of Hearing pursuant to sections 127(1) and 127(10) of the Securities Act, R.S.O. 1990, c. S.5, as amended (the "Securities Act") in respect of Hussain Dhala ("Mr. Dhala");

2. on November 16, 2015, Staff of the Commission ("Staff") filed a Statement of Allegations in respect of the same matter;

3. on December 16, 2015, Staff appeared before the Commission and brought an application to convert the matter to a written hearing, in accordance with Rule 11.5 of the Commission's Rules of Procedure (2014), 37 O.S.C.B. 4168, and subsection 5.1(1) of the Statutory Power Procedures Act, R.S.O. 1990, c. S.22, as amended;

4. on December 16, 2015, the Commission granted Staff's application to proceed by written hearing and set down a schedule for the submission of materials by the parties;

5. Staff filed written submissions, a brief of authorities, a hearing brief and affidavits of service;

6. Mr. Dhala did not file responding materials; and

7. the Commission is of the opinion that it is in the public interest to make this order;

IT IS HEREBY ORDERED THAT:

i. Mr. Dhala permanently cease trading in any securities and derivatives pursuant to section 127(1), paragraph 2 of the Securities Act;

ii. Mr. Dhala is permanently prohibited from acquiring any securities pursuant to section 127(1), paragraph 2.1 of the Securities Act;

iii. Mr. Dhala shall resign any positions he holds as a director or officer of any issuer or registrant pursuant to section 127(1), paragraphs 7 and 8.1 of the Securities Act;

iv. Mr. Dhala is permanently prohibited from becoming or acting as a director or officer of any issuer or registrant pursuant to section 127(1), paragraphs 8 and 8.2 of the Securities Act; and

v. Mr. Dhala is permanently prohibited from becoming or acting as a registrant, an investment fund manager or a promoter pursuant to section 127(1), paragraph 8.5 of the Securities Act.

DATED at Toronto this 2nd day of February, 2016.

"Janet Leiper"