BCSC

Notices of Hearing & Temporary Orders

Ronald Bruce Bieber [Sec. 145]

BCSECCOM #:	Document Type: Sec. 145
Published Date: 1989-01-10	Effective Date: 1989-01-10
Details:

Indexed as:
Bieber (Re)

IN THE MATTER OF the Securities Act, S.B.C. 1985, c. 83,
as amended
AND IN THE MATTER OF Ronald Bruce Bieber

Notice of Hearing under Section 145

N. de Gelder

January 10, 1989

NOTICE:-- WHEREAS on May 27, 1988, the Vancouver Stock Exchange (the "Exchange") made an order pursuant to Rule C. 1.03 of the Vancouver Stock Exchange Rules which halted trading in the shares of nine companies, namely Bankit Resource Corporation, Caliente Resources Ltd., Draw International Resources Corp., Flow Resources Ltd., High Rise Resources Ltd., Longboat Resources Inc., Midnapore (1979) Resources Inc., Nu-Start Resource Corp., and Shallow Resources Inc. (the "Halted Companies") with which Ronald Bruce Bieber ("Bieber") was associated either as an officer or a director.

AND WHEREAS the Exchange on June 7, 1988, issued a decision (the "Decision") which set out the terms under which the Exchange would permit a resumption of trading in the shares of the Halted Companies.

AND WHEREAS Bieber applied to the British Columbia Securities Commission (the "Commission") for a hearing and review of the Decision pursuant to section 15 of the Securities Act, S.B.C. 1985, c. 83, as amended (the "Act").

AND WHEREAS on October 13, 1988, a hearing was held before the Commission to review the Decision.

AND WHEREAS on December 15, 1988, in Reasons and Decision of the Commission (the "Reasons and Decision") the Commission found that:

1.		"Bieber played, at best, a passive and unhelpful role in detecting a stock market fraud of monumental proportions, despite the sensitive position he occupied in relation to the perpetrators of the scheme";
2.		Bieber "collaborated in measures aimed at masking the true ownership of securities of companies under his management"; and
3.		"it is not in the public interest for Bieber to continue to be associated with the Halted Companies in his capacity as a director or officer.".

AND WHEREAS the Commission in its Reasons and Decision confirmed the Exchange Decision, dated June 7, 1988, and ordered that the shares of the Halted Companies not resume trading until the Exchange has approved a restructured board of directors and new management for each company.

TAKE NOTICE that a hearing will be held at the 12th floor, 865 Hornby Street, Vancouver, British Columbia, on January 26th, 1989 at 10:00 a.m. to allow Bieber an opportunity to be heard before the Commission determines whether it is in the public interest:

1.		to make an order under section 145 of the Act that any or all of the exemptions described in sections 30 to 32, 55, 58, 81 or 82 of the Act do not apply to Bieber;
2.		to make an order under section 145.1 of the Act that Bieber

(a)		resign any position that he holds as a director or officer of a reporting issuer, and
(b)		is prohibited from becoming or acting as a director or officer of a reporting issuer;

3.		to make an order under section 154.2 of the Act that Bieber pay prescribed fees or charges for the costs of or related to the hearing that are incurred by or on behalf of the Commission or the Superintendent of Brokers; and
4.		to make any other order as may be necessary and appropriate in the circamstances.

AND TAKE NOTICE that Bieber may be represented by counsel at the hearing and make representations and lead evidence. Bieber is required to advise of his intention to attend or not attend the hearing by writing to the Commission, 1200 - 865 Hornby Street, Vancouver, British Columbia, V6Z 2H4 at least 2 days before the date of the hearing;

AND TAKE NOTICE that determinations may be made in this matter if Bieber or his counsel does not appear at the hearing.

N. de GELDER
Superintendent of Brokers