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THE SECURITIES ACT |
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Order No. 7295 |
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Sections 148, 148.3, and 8 |
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March 2, 2016 |
RODNEY JACK WHARRAM, WEST KARMA LTD.,
THE FALLS CAPITAL CORP., AND DEERCREST CONSTRUCTION FUND INC.
WHEREAS:
(A) On November 25, 2015, the British Columbia Securities Commission (“BCSC”) issued a decision against Rodney Jack Wharram, West Karma Ltd., The Falls Capital Corp., and Deercrest Construction Fund Inc. (“BCSC Decision”);
(B) On January 16, 2016, 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 Rodney Jack Wharram (“WHARRAM”), West Karma Ltd. (“WEST KARMA”), The Falls Capital Corp. (“FALLS”), and/or Deercrest Construction Fund Inc. (“DEERCREST”);
(C) On March 2, 2016, this hearing matter came before a panel of the Commission;
(D) Upon reviewing the documentary evidence and hearing the submissions of counsel for staff of the Commission, no one appearing for the respondents, and upon reviewing the Affidavits of Service, filed, and being satisfied as to service upon the respondents, 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, WHARRAM cease trading in securities permanently.
2. THAT, pursuant to section 148 of the Act, all trading by and of WEST KARMA, FALLS and DEERCREST cease permanently.
3. THAT, pursuant to section 148.3 of the Act, WHARRAM resign any position he holds as and be prohibited from becoming or acting as a director or officer of any issuer.
4. THAT, pursuant to section 8 of the Act, WHARRAM, WEST KARMA, FALLS and DEERCREST be prohibited from becoming or acting as a registrant permanently.
BY ORDER OF THE COMMISSION
Deputy Director