Decisions
Foresight Capital Corporation and Gilbert Kenneth Wong [Ruling]
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BCSECCOM #:
2008 BCSECCOM 124
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Document Type:
Ruling
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Published Date:
2008-02-29
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Effective Date:
2008-02-29
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Details:
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2008 BCSECCOM 124-reformatted
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2008 BCSECCOM 124
Foresight Capital Corporation and Gilbert Kenneth Wong
Securities Act, RSBC 1996, c 418
Application
Panel Brent W. Aitken, Vice Chair
John K. Graf, Commissioner
Date of application December 23, 2007
Submissions completed January 26, 2008
Date of ruling February 29, 2008
Submissions filed by
Gilbert Kenneth Wong For himself and Foresight Capital Corporation
Wietzke Gerber For the Executive Director
Ruling
¶ 1 This is an application by Foresight Capital Corporation and Gilbert Kenneth Wong for an order to “recover costs” in connection with the hearing arising from the notice of hearing involving those parties. See Foresight Capital Corporation 2004 BCSECCOM 721 (Notice of Hearing), 2007 BCSECCOM 101 (Findings), and 2007 BCSECCOM 365 (Decision).
¶ 2 The executive director is the only party against whom an order for costs could be made to enable the applicants to recover their costs.
¶ 3 The commission has the jurisdiction to make only the orders that the Securities Act, RSBC 1996, c 418 authorizes it to make. Although section 174 of the Act authorizes the commission to make costs orders against persons whose affairs are the subject of a hearing, the Act contains no authority for the commission to make costs orders against anyone else. We therefore do not have jurisdiction to make the order sought in the application.
¶ 4 We dismiss the application.
¶ 5 February 29, 2008
¶ 6 For the Commission
Brent W. Aitken
Vice Chair
John K. Graf
Commissioner