National Policy 11-207 Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions – Application by an issuer for a revocation of cease trade orders issued by the Commission and British Columbia Securities Commission – cease trade order issued because the issuer had failed to file certain continuous disclosure materials required – defaults subsequently remedied by bringing continuous disclosure filings up-to-date – Ontario opt-in to revocation order issued by British Columbia Securities Commission, as principal regulator.
Applicable Legislative Provisions
Securities Act, R.S.O. 1990, c. S.5, as am., ss.127, 144.
National Policy 11-207 Failure to File Cease Trade Orders and Revocations in Multiple Jurisdictions.
Citation: 2018 BCSECCOM 270
AVCORP INDUSTRIES INC.
Under the securities legislation of
British Columbia and Ontario
1 Avcorp Industries Inc. (the Issuer) is subject to a failure-to-file cease trade order (the FFCTO) issued by the British Columbia Securities Commission (the Principal Regulator) and Ontario (each a Decision Maker) respectively on April 9, 2018.
2 The Issuer has applied to each of the Decision Makers under National Policy 11-207 Failure-to-File Cease Trade Orders and Revocation in Multiple Jurisdictions (NP 11-207) for an order revoking the FFCTOs.
3 This order is the order of the Principal Regulator and evidences the decision of the Decision Maker in Ontario.
4 Terms defined in National Instrument 14-101 Definitions or in NP 11-207 have the same meaning if used in this order, unless otherwise defined.
5 Each of the Decision Makers is satisfied that the order to revoke the FFCTO meets the test set out in the Legislation for the Decision Maker to make the decision.
6 The decision of the Decision Makers under the Legislation is that the FFCTO is revoked.
7 September 12, 2018
“Allan Lim, CPA, CA”