Notices of Hearing & Temporary Orders
MURRAY TILDESLEY [Sec. 161]
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BCSECCOM #:
2001 BCSECCOM 184
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Document Type:
Sec. 161
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Published Date:
2001-02-12
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Effective Date:
2001-02-07
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Details:
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2001 BCSECCOM 184
IN THE MATTER OF THE SECURITIES ACT
R.S.B.C. 1996, c. 418
AND
IN THE MATTER OF MURRAY TILDESLEY
Notice of Hearing Under Section 161[para 1]
1. TAKE NOTICE that a hearing will be held (the “Hearing”) to give Murray Tildesley (“Tildesley”) an opportunity to be heard before the British Columbia Securities Commission (the “Commission”) considers whether it is in the public interest to make the following orders:
1.1 pursuant to section 161(1)(c) of the Securities Act, R.S.B.C. 1996, c. 418 (the “Act”) that any or all of the exemptions described in sections 44 to 47, 74, 75, 98 or 99 of the Act do not apply to Tildesley;
1.2 pursuant to section 161(1)(b) of the Act that Tildesley cease trading in any securities or exchange contracts;
1.3 pursuant to section 161(1)(d) of the Act that Tildesley resign any position he holds as a director or officer of any issuer;
1.4 pursuant to section 161(1)(d) of the Act that Tildesley be prohibited from becoming or acting as a director or officer of any issuer;
1.5 pursuant to section 162 of the Act that Tildesley pay an administrative penalty;
1.6 pursuant to section 174 of the Act that Tildesley pay prescribed fees or charges for the costs of, or related to, the Hearing; and
1.7 to make any other orders as may be appropriate in the circumstances.
[para 2]
2. AND TAKE NOTICE that the Commission will be asked to consider the following facts and allegations in making its determination:
2.1 Tildesley became a director of Kensington Resources Ltd. (“Kensington”) on October 23, 1998.
2.2 Kensington has its head office in British Columbia and, during the Relevant Period, its securities were listed and posted for trading on the Vancouver Stock Exchange (The “VSE”) [now the Canadian Venture Exchange] making Kensington an exchange issuer and a reporting issuer under the Act.
2.3 Tildesley did not file a Form 4B with the Commission until March 29, 2000, when requested to do so by the Commission.
2.4 During the Period of October, 1998, to December, 1999, (the “Relevant Period”), Tildesley was a director of and therefore an insider of Kensington.
2.5 During the Relevant Period, Tildesley filed no insider reports but made changes in his direct or indirect beneficial ownership of, or control or direction over, securities of Kensington.
2.6 Tildesley bulk filed 14 insider reports on February 21, 2000, and paid the applicable late filing fees.
2.7 Tildesley, by failing to file a Form 4B within 30 days of becoming a director of Kensington, did not file personal information in the required form contrary to section 90 of the Act.
2.8 Tildesley, by failing to file an initial insider report within ten days of becoming an insider, which disclosed any direct or indirect beneficial ownership of, or control or direction over, securities of the reporting issuer, acted contrary to section 87(2) of the Act.
2.9 Tildesley, by failing to file insider reports showing his direct or indirect beneficial ownership of, control or direction over, securities of Kensington and the change or changes in his ownership and control of, or direction over, securities of Kensington, acted contrary to section 87 of the Act and section 155 of the Securities Rules, B.C. Reg. 194/97.
[para 3]
3. AND TAKE NOTICE that Tildesley may be represented by counsel at the Hearing, and make representations and lead evidence. Tildesley is requested to advise the Commission of his intention to attend the Hearing by informing the Secretary to the Commission at PO Box 10142, Pacific Centre, 701 West Georgia Street, Vancouver, BC V7Y 1L2, phone: (604) 899-6500.
[para 4]
4. AND TAKE NOTICE that Tildesley or his counsel are required to attend at the 12th Floor Hearing Room, 701 West Georgia Street, Vancouver, British Columbia, on March 14, 2001, at 10:00 a.m. if he wishes to be heard before the Commission sets a date for the Hearing.
[para 5]
5. AND TAKE NOTICE that determinations may be made in this matter if Tildesley, or his counsel, do not appear at the Hearing.
[para 6]
DATED at Vancouver, British Columbia, on February 7, 2001.
Steve Wilson
Executive Director