Notices of Hearing & Temporary Orders
BRIAN JONATHAN ELLIS [Amended Sec. 161]
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BCSECCOM #:
2001 BCSECCOM 421
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Document Type:
Amended Sec. 161
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Published Date:
2001-04-23
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Effective Date:
2001-04-12
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Details:
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2001 BCSECCOM 421
IN THE MATTER OF THE SECURITIES ACT
R.S.B.C. 1996, c. 418
AND
IN THE MATTER OF BRIAN JONATHAN ELLIS
Amended Notice of Hearing Under Section 161[para 1]
1. TAKE NOTICE that a hearing will be held (the “Hearing”) to give Brian Jonathan Ellis (“Ellis”) 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 Ellis;
1.2 pursuant to section 161(1)(b) of the Act that Ellis cease trading in any securities or exchange contracts;
1.3 pursuant to section 161(1)(d) of the Act that Ellis 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 Ellis be prohibited from becoming or acting as a director or officer of any issuer;
1.5 pursuant to section 161(1)(d) of the Act that Ellis be prohibited from engaging in any investor relations activities;
1.6 pursuant to section 162 of the Act that Ellis pay an administrative penalty;
1.7 pursuant to section 174 of the Act that Ellis pay prescribed fees or charges for the costs of, or related to, the Hearing; and
1.8 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 During the period from October, 1994 to August, 1998, Ellis was the vice-president of, TIR Systems Ltd. (“TIR”), a reporting issuer under the Act since October 19, 1987.
2.2 TIR has its head office in British Columbia and, during the period from February, 1996, through to July, 1998, (the “Relevant Period”), its securities were listed and posted for trading on the Vancouver Stock Exchange (The “VSE”) making TIR an exchange issuer and a reporting issuer under the Act during the Relevant Period.
2.3 Ellis was a vice-president of and therefore an insider of TIR during the Relevant Period.
2.4 During the Relevant Period, Ellis ^ made changes in his direct or indirect beneficial ownership of, or control or direction over, securities of TIR, for which he did not file insider reports as required by section 87 of the Act.
2.5 Ellis bulk filed 26 ^ insider reports on October 29, 1998, relating to securities of TIR during the Relevant Period and paid the applicable late filing fees in the amount of $1,300 on April 12, 1999.
2.6 Ellis, by failing to file insider reports showing his direct or indirect beneficial ownership of, or control or direction over, securities of TIR and/or the change or changes in his direct or indirect beneficial ownership, or control ^ or direction over, securities of TIR, 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 Ellis may be represented by counsel at the Hearing, on September 20, 21 and 24, 2001 and make representations and lead evidence. Ellis 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 determinations may be made in this matter if Ellis, or his counsel, do not appear at the Hearing.
[para 5]
DATED at Vancouver, British Columbia, on April 12, 2001.
Steve Wilson
Executive Director