Settlements
Khem Gill [Sec. 144]
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BCSECCOM #:
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Document Type:
Sec. 144
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Published Date:
1991-02-18
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Effective Date:
1991-02-18
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Details:
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Gill (Re)
IN THE MATTER OF The Securities Act, S.B.C. 1985, s. 83
AND IN THE MATTER OF Khem Gill
AND IN THE MATTER OF Khem Gill
Orders Under Section 144
W.D. Nesmith
February 18, 1991
ORDER:-- WHEREAS an Agreed Statement of Facts and Undertaking was executed by Khem Gill ("Gill") and the Superintendent of Brokers (the "Superintendent"), a copy of which is attached as Schedule "A";
NOW THEREFORE, the Superintendent, considering that it would be in the public interest to do so, orders that,
| 1. |  | pursuant to section 144(1)(c) of the Securities Act S.B.C. 1985, c. 83 (the "Act") the exemptions described in sections 30 to 32, 55, 58, 80 or 81 do not apply to Gill for a period ending two years from the date of these orders, and | |
| 2. | | pursuant to section 144(1)(d) of the Act, Gill is prohibited from becoming or acting as a director or officer of any issuer for a period ending two years from the date of these orders. | |
Superintendent of Brokers
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Schedule "A"
IN THE MATTER OF The Securities Act, S.B.C. 1985, c. 83
AND IN THE MATTER OF Khem Gill
AND IN THE MATTER OF Khem Gill
Agreed Statement of Facts and Undertaking
The following agreement has been reached between Khem Gill ("Gill") and the Superintendent of Brokers (the "Superintendent"):
| 1. | | As the basis for orders made pursuant to section 144 of the Securities Act, S.B.C. 1985, c. 83 (the "Act") withdrawing the statutory exemptions of Gill and prohibiting Gill from becoming or acting as a director or officer of any issuer, Gill acknowledges that, | |
| a) | | on December 6, 1989, Gill was found guilty of obtaining by a false pretence 1,000 shares of Plaser Light Corp. from Canarim Investment Corporation, contrary to section 362(1) (a) of the Criminal Code of Canada (the "Offence"), | |
| b) | | Gill was ordered to pay a fine and make restitution in relation to the Offence, | |
| c) | | the shares of Plaser Light Corp. were listed on the Vancouver Stock Exchange at the time of the Offence; | |
| 2. | | Gill hereby consents to orders of the Superintendent pursuant to section 144 of the Act in the form attached as Schedule "B" (the "Orders"); | |
| 3. | | Gill waives his right to a hearing and review by the British Columbia Securities Commission pursuant to section 147 of the Act with respect to the Orders. | |
KHEM GILL
Dated at Vancouver, British Columbia this 8th day of February, 1991.
W.D. NESMITH
Superintendent of Brokers
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SCHEDULE "B"
IN THE MATTER OF The Securities Act, S.B.C. 1985, c. 83
AND IN THE MATTER OF Khem Gill
AND IN THE MATTER OF Khem Gill
Orders Under Section 144
WHEREAS an Agreed Statement of Facts and Undertaking was executed by Khem Gill ("Gill") and the Superintendent of Brokers (the "Superintendent"), a copy of which is attached as Schedule "A9';
NOW THEREFORE, the Superintendent, considering that it would be in the public interest to do so, orders that,
1. pursuant to section 144(1)(c) of the Securities Act S.B.C. 1985, c. 83 (the "Act") the exemptions described in sections 30 to 32, 55, 58, 80 or 81 do not apply to Gill for a period ending two years from the date of these orders, and
| 2. | | pursuant to section 144(1)(d) of the Act, Gill is prohibited from becoming or acting as a director or officer of any issuer for a period ending two years from the date of these orders. | |