Decisions
RUSSELL JAMES BENNETT [Sec. 171]
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BCSECCOM #:
2001 BCSECCOM 341
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Document Type:
Sec. 171
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Published Date:
2001-03-22
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Effective Date:
2001-03-21
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Details:
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2001 BCSECCOM 341
IN THE MATTER OF THE SECURITIES ACT
R.S.B.C. 1996, C. 418
AND
IN THE MATTER OF RUSSELL JAMES BENNETT
Variation Order Under Section 171
[para 1]
On October 14, 1999, the British Columbia Securities Commission made an order under section 161(1)(c) of the Securities Act, R.S.B.C. 1996, c. 418 that the exemptions described in sections 44 to 47, 74, 75 and 98 of the Act do not apply to Russell James Bennett for a period ending August 31, 2006.
[para 2]
Bennett represents that he wishes sell the securities held in his registered retirement income fund account held by Merrill Lynch Canada Inc. in Edmonton, Alberta, and until the expiration of the Order to re-invest some or all of the sale proceeds in an account at Merrill Lynch in his name that will be managed by Merrill Lynch in its sole discretion without any instructions from Bennett concerning trading in that account.
[para 3]
The Commission considers that to do so would not be prejudicial to the public interest.
[para 4]
The Commission orders under section 171 of the Act that the Order is varied to allow Bennett to use the exemption described in section 45(2)(9) of the Act:
· to sell the securities held in his registered retirement income fund account at Merrill Lynch; and
· to deposit some or all of the sale proceeds in an account in his name, managed by Merrill Lynch in its sole discretion without any instructions from any other person.
[para 5]
March 21, 2001.
Brent W. Aitken
Commissioner
Roy Wares
Commissioner
Diane K. Wolch
Commissioner