BCSC

Settlements

ALASDAIR WILLIAM ACHILLES [Sec. 161]

BCSECCOM #:	Document Type: Sec. 161
Published Date: 1997-11-28	Effective Date: 1997-11-21
Details:

IN THE MATTER OF THE SECURITIES ACT
R.S.B.C. 1996, c. 418

AND

IN THE MATTER OF ALASDAIR WILLIAM ACHILLES

Order Under Section 161

1. WHEREAS an Agreed Statement of Facts and Undertaking was executed by Alasdair William Achilles (aka Allen Achilles) (“Achilles”) and the Executive Director, a copy of which is attached hereto as Schedule “A”:

2. NOW THEREFORE the Executive Director, considering that it would be in the public interest to do so, orders, by consent, that:

2.1 pursuant to section 161(1)(c) of the Securities Act, R.S.B.C. 1996, c. 418 (the “Act”), any or all of the exemptions described in sections 44 to 47, 74, 98 and 99 of the Act do not apply to Achilles for a period of two years from the date this Order;

2.2 for a period of three years following the conclusion of the two year term set out above, Achilles may trade securities in British Columbia, but must only do so through one account with one broker and, during that time, the broker must have instructions from Achilles to send to the Executive Director, directly, monthly trading records concerning his trading;

2.3 Achilles will have 180 days from the date of this Order to sell those shares which he currently holds;

2.4 the following conditions shall apply to any dispositions made by Achilles with respect to paragraph 2.3:

(a) prior to any securities being sold, Achilles must deliver to the Executive Director a list of the securities he is holding as of the date of this Order;

(b) all dispositions by Achilles must be made through one registered dealer and prior to any securities being sold, Achilles must advise the Executive Director of the name of the registered dealer and the name and account through which the dispositions will be made by Achilles;

(c) Achilles shall make arrangements with the registered dealer to ensure that the Executive Director receive copies of the confirmation slips for each disposition on a timely basis;

(d) no unusual effort is made to prepare the market or to create a demand for the securities; and

(e) no extraordinary commission or other consideration is paid in respect of the securities;

2.4 pursuant to section 161(1)(d) of the Act, Achilles is prohibited from acting as a director or officer of any issuer in British Columbia for a period of three months from the date of this Order;

2.5 pursuant to section 161(1)(d) of the Act, Achilles is prohibited from engaging in investor relations activities for a period of three months from the date of this Order; and

2.6 Achilles will complete the Securities Program - Continuous Disclosure offered by Simon Fraser University.

DATED at Vancouver, British Columbia, on November 21, 1997.

Paul C. Bourque
Executive Director

Schedule “A”
IN THE MATTER OF THE SECURITIES ACT
R.S.B.C. 1996, c. 418

AND

IN THE MATTER OF ALASDAIR WILLIAM ACHILLES

Agreed Statement of Facts and Undertaking

The following agreement has been reached between Alasdair William Achilles (aka Allen Achilles) (“Achilles”) and the Executive Director:

1. As the basis for the orders and undertakings referred to below, Achilles acknowledges the following facts to be correct:

Misleading Trading Volume

1.1 Super Twins Resources (the “Company”), now known as Whitegold Resources Ltd., is an exchange issuer incorporated in British Columbia;

1.2 during the period between June 20, 1991 and March 3, 1992 (the “Period”), Achilles acted as the President and director of the Company;

1.3 Achilles, through beneficial ownership or control, operated at least 15 brokerage accounts (the “Related Accounts”) during the Period; and

1.4 during the Period:

(a) trading by the Related Accounts amounted to over 25% of the total trading volume of the Company’s shares on the Vancouver Stock Exchange;

(b) the Related Accounts traded with each other. These trades created the appearance of misleading trading activity, contrary to section 57(a) of the Securities Act, R.S.B.C. 1996, c. 418 (the “Act”);

Insider Reports

1.5 the trading conducted by the Related Accounts were not reported by Achilles on a timely basis as required under section 87(4) of the Act;

1.6 insider reports which were subsequently filed by Achilles did not accurately reflect his trading in the shares of the Company during the Period;

2. Conduct Since the Period

2.1 since the Period, Achilles continued to trade in securities in British Columbia. The Staff of the British Columbia Securities Commission (the “Commission”) have no evidence that Achilles has been in breach of the Act since the conclusion of the Period; and

2.2 Achilles represents to the Commission and its staff, to the best of his knowledge, that he has not been in breach of his obligations under the Act in any manner whatsoever since the Period.

3. Achilles consents to an order of the Executive Director (the “Order”) that:

3.1 pursuant to section 161(1)(c) of the Act, that any or all of the exemptions described in sections 44 to 47, 74, 98 and 99 of the Act do not apply to Achilles for a period of two years from the date the Order;

3.2 for a period of three years following the conclusion of the two year term set out above, Achilles may trade securities in British Columbia, but must only do so through one account with one broker and, during that time, the broker must have instructions from Achilles to send to the Executive Director, directly, monthly trading records concerning his trading;

3.3 Achilles will have 180 days from the date of the Order to sell those shares which he currently holds;

3.4 the following conditions shall apply to any dispositions made by Achilles with respect to paragraph 2.3:

(a) prior to any securities being sold, Achilles must deliver to the Executive Director a list of the securities he is holding as of the date of the Order;

(b) all dispositions by Achilles must be made through one registered dealer and, prior to any securities being sold, Achilles must advise the Executive Director of the name of the registered dealer and the name and account through which the dispositions will be made by Achilles;

(c) Achilles shall make arrangements with the registered dealer to ensure that the Executive Director receive copies of the confirmation slips for each disposition on a timely basis;

(d) no unusual effort is made to prepare the market or to create a demand for the securities; and

(e) that no extraordinary commission or other consideration is paid in respect of the securities;

3.5 pursuant to section 161(1)(d) of the Act, Achilles is prohibited from acting as a director or officer of any issuer in British Columbia for a period of three months from the date of the Order;

3.6 pursuant to section 161(1)(d) of the Act, Achilles is prohibited from engaging in investor relations activities for a period of three months from the date of the Order; and

3.7 Achilles will complete the Securities Program - Continuous Disclosure offered by Simon Fraser University.

4. Achilles undertakes to pay the sum of $15,000 to the British Columbia Securities Commission.

5. Achilles waives any right he may have, under the Act or otherwise, to a hearing, hearing and review, judicial review or appeal related to, in connection with or incidental to this agreement and the Order.

6. This agreement may be signed in counterpart.

DATED at Vancouver, British Columbia, on November 20, 1997.

“J. Lynch” )
Witness Signature )
Jennifer Lynch )
Witness Name ) “Alasdair William Achilles”
2600, Three Bentall, 595 Burrard )
Street, Vancouver, B.C. )
Address )
Lawyer )
Occupation

DATED at Vancouver, British Columbia, on November 21, 1997.

Paul C. Bourque
Executive Director