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THE SECURITIES ACT |
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Order No. 7198 |
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Section 148 |
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October 7, 2015 |
SAAFNET CANADA INC.
WHEREAS:
(A) On March 14, 2014, the British Columbia Securities Commission (“BCSC”) issued a decision against Saafnet Canada Inc. (“BCSC Decision”);
(B) On July 23, 2015, The Manitoba Securities Commission (“Commission”) issued a Notice of Hearing (“Notice”) giving notice of its intention to hold a hearing pursuant to section 148.4 of The Securities Act, R.S.M. 1988, c. S50 as amended (“Act”) to consider whether or not it was in the public interest to grant orders with respect to Saafnet Canada Inc. (“SAAFNET”);
(C) SAFFNET has consented to the issuance of this order and has waived its right to a full hearing;
(D) The Commission is of the opinion that it is in the public interest to make this order.
IT IS ORDERED:
1. THAT, pursuant to section 148 of the Act, trading in securities of SAAFNET cease permanently.
BY ORDER OF THE COMMISSION
Director