Notices of Hearing & Temporary Orders

RONALD OSCAR KLASSEN [Sec. 161]

BCSECCOM #:
Document Type:
Sec. 161
Published Date:
1998-02-27
Effective Date:
1998-02-09
Details:


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

AND

IN THE MATTER OF RONALD OSCAR KLASSEN


Order Under Section 161


WHEREAS an Agreed Statement of Facts and Undertaking (the “Agreement”) was executed by Ronald Oscar Klassen (“Klassen”) and the Executive Director, a copy of which is attached hereto as Schedule "A";

NOW THEREFORE the Executive Director, considering that it would be in the public interest to do so, orders (the “Order”), by consent, that:

1. under section 161(1)(c) of the Securities Act, R.S.B.C. 1996, c. 418 (the “Act”), the exemptions described in sections 45 to 47, 74, 75, 98 or 99 of the Act do not apply to Klassen for a period expiring on October 22, 2002, except that Klassen shall be permitted to utilize the exemption under section 45(7) of the Act solely for the purposes of disposition of the securities he held as of October 22, 1997. The following conditions shall apply to any dispositions made by Klassen:

      (a) prior to any securities being sold, Klassen must deliver to the Executive Director a list of the securities he held as of October 22, 1997;

      (b) all dispositions by Klassen must be made through one registered dealer and prior to any securities being sold, Klassen must advise the Executive Director of the name of the registered dealer and the name and account number through which the dispositions will be made by Klassen;

      (c) Klassen shall make arrangements with the registered dealer to ensure that the Executive Director receives copies of the confirmation slips for each disposition on a timely basis;

      (d) that no unusual effort is made to prepare the market or to create a demand for the securities;

      (e) that no extraordinary commission or other consideration is paid in respect of trades of the securities; and

      (f) that none of the securities may be sold before 2 days or after 180 days of October 22, 1997; and
2. under section 161(1)(d) of the Act, Klassen be prohibited from becoming or acting as a director or officer of any reporting issuer until such time as:
      (a) Klassen has successfully completed a course of study satisfactory to the Executive Director concerning the duties and officers of reporting issuers;

      (b) Klassen has made full payment of the amount set out in paragraph three of the Agreement; and

      (c) the expiry of October 22, 2002.

DATED at Vancouver, British Columbia, on February 9, 1998.






Michael J. Watson
A/Executive Director