Decisions

Westek Communications Inc., et al. [Sec. 144]

BCSECCOM #:
Document Type:
Sec. 144
Published Date:
1992-04-24
Effective Date:
1992-04-10
Details:


IN THE MATTER OF The Securities Act, S.B.C. 1985, c. 83
AND IN THE MATTER OF Westek Communications Inc.
AND IN THE MATTER OF Wayne Keith Hansen
Orders Under Section 144
W.D. Nesmith
April 10, 1992

ORDERS:-- WHEREAS it appears to the Superintendent of Brokers (the "Superintendent") that:

1.Westek Communications Inc. ("Westek") is a reporting issuer incorporated under the Company Act, R.S.B.C. 1979, c. 59 and its shares are listed for trading on the Vancouver Stock Exchange;
2.Wayne Keith Hansen ("Hansen") was the president and a director of Westek from May 3, 1991 to February 19, 1992;
3.during the period from December 1991 to January 1992, Hansen caused Westek to issue a total of 1.7 million shares (the "Shares") to Andrew James Brass, Sr., an individual resident in British Columbia;
4.the Shares were issued without regulatory approval and Westek received no consideration for the Shares; and
5.Hansen consents to interim orders under section 144(1)(c) and 144(1)(d) of the Securities Act, S.B.C. 1985, c. 83 (the "Act");
NOW THEREFORE the Superintendent, considering that it would be in the public interest to do so, orders BY CONSENT that:

1.pursuant to section 144(1)(c) of the Act, the exemptions described in sections 30 to 32, 55, 58, 80 and 81 of the Act do not apply to Hansen; and
2.pursuant to section 144(1)(d) of the Act, Hansen is prohibited from becoming or acting as an officer or director of any reporting issuer
with the condition that Hansen may apply to the British Columbia Securities Commission for variation or revocation of these orders on 15 days notice to the Superintendent.

W.D. NESMITH
Superintendent of Brokers