THE SECURITIES ACT | ) |
Order No. 4041 |
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Section | ) |
February 14, 2003 |
PC CHIPS CORPORATION
WHEREAS:
(A) By Order No. 4033 (the "Order") of The Manitoba Securities Commission (the "Commission") dated January 30, 2003, issued pursuant to section 148(1) of The Securities Act (the "Act"), trading in the securities of PC Chips Corporation (the "Issuer") was directed to cease forthwith for a period of fifteen days from January 30, 2003 until February 13, 2003 the failure of the Issuer to file with the Commission a copy of its audited annual financial statements (the "Audited Financial Statements") for the year ended August 31, 2002 as required by section 120(1) of the Act;
(B) A copy of the Audited Financial Statements has not yet been filed with the Commission;
(C) On the basis of the foregoing, I am of the opinion that it is in the public interest that the direction to cease trading in the securities of the Issuer set out in the Order should be extended until such time as the Issuer complies with the requirements of Part XII of the Act.
I HEREBY ORDER pursuant to a delegation to me by the Commission under subsection 4(1) of the Act of the powers in that behalf:
1. THAT, pursuant to section 148(1) of the Act, the direction to cease trading in the securities of the Issuer set out in the Order is hereby extended until such time as:
(a) the Issuer becomes current in its filings with the Commission under Part XII of the Act and pays all outstanding fees to the Commission; and
(b) the Issuer submits a written request to the Commission to have this order revoked.
DIRECTOR