Settlements

CHRISTOPHER MICHAEL STUART [Agreed Stmt]

BCSECCOM #:
Document Type:
Agreed Stmt
Published Date:
1999-05-14
Effective Date:
1999-05-06
Details:


IN THE MATTER OF THE SECURITIES ACT
R.S.B.C. 1996, c. 418

AND

IN THE MATTER OF CHRISTOPHER MICHAEL STUART


Agreed Statement of Facts and Undertaking


The following agreement has been reached between Christopher Michael Stuart (“Stuart”) and the Executive Director:

1. Whereas:
      1.1 the British Columbia Securities Commission (the “Commission”) commenced proceedings by way of a Notice of Hearing issued on July 17, 1998, which named Stuart as one of the Respondents;

      1.2 Stuart is also named in proceedings commenced in Alberta (the “Alberta Hearing”) by the Alberta Securities Commission (the “ASC”) concerning similar facts to those alleged in the British Columbia proceeding;

      1.3 the Commission is prepared to adjourn its Notice of Hearing (the “B.C. Hearing”) so far as the allegations against Stuart are concerned on the basis that the Alberta hearing will proceed; and

      1.4 any orders made by the ASC against Stuart shall be imposed on a concurrent and reciprocal basis against Stuart by the Commission, subject to any appeal which Stuart may take against any orders made in Alberta, pursuant to the Alberta Securities Act;
2. Therefore, the parties undertake and agree as follows:
      2.1 the B.C. Hearing against Stuart shall be adjourned generally;

      2.2 the Alberta Hearing will proceed against Stuart to a conclusion or to settlement;

      2.3 upon completion of the Alberta Hearing or any settlement against Stuart, any sanctions issued against Stuart by the ASC shall be concurrently issued against Stuart by the Commission (the “B.C. Orders”);

      2.4 Stuart may take any appeal open to him under the Alberta Securities Act, and any orders made subsequently by the ASC as a result of that appeal or appeals, or any effect that that appeal or those appeals may have on the Alberta Order, will also have the same effect on the B.C. Orders;

      2.5 Stuart will pay $5,000 to the Commission representing a portion of the cost of its investigation; and

      2.6 Stuart does not admit any fault or liability in respect of any allegation as a result of entering into this agreement;
3. The Commission and Stuart have agreed to a final settlement to resolve the allegations and proceedings set out in the Notice of Hearing In the Matter of Cartaway Resources Corporation against Stuart dated July 17, 1998, on the basis of the terms and conditions set out in this Agreed Statement of Facts and Undertaking.


DATED at Calgary, Alberta, on April 28, 1999.



“Kerri-Ann Clements”___ ____)
Witness Signature )
Kerri-Ann Clements_____ ____)
Witness Name (please print) )
    “C.M. Stuart”
3000, 237 - 4th Avenue S.W.__ __)
    CHRISTOPHER MICHAEL STUART
Calgary, AB T2P 4X7__ ____)
Address )
Legal Secretary______ _____)
Occupation)

DATED at Vancouver, British Columbia, on May 6, 1999.





Wayne Redwick
A/Executive Director
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