Equisure Insurance Services Ltd. - MRRS Decision
Headnote
Mutual Reliance Review System for Exemptive Relief Applications - issuer has only one security holder - issuer deemedto have ceased being a reporting issuer.
Applicable Ontario Statutory Provisions
Securities Act, R.S.O. 1990, c.S.5, as am. s. 83.
IN THE MATTER OF
THE SECURITIES LEGISLATION OF
ALBERTA, SASKATCHEWAN, ONTARIO,
QUEBEC AND NEWFOUNDLAND
AND
IN THE MATTER OF
THE MUTUAL RELIANCE REVIEW SYSTEM FOR
EXEMPTIVE RELIEF APPLICATIONS
AND
IN THE MATTER OF
EQUISURE INSURANCE SERVICES LTD.
MRRS DECISION DOCUMENT
WHEREAS the local securities regulatory authority or regulator (the "Decision Maker") in each of the provincesof Alberta, Saskatchewan, Ontario, Quebec and Newfoundland (the "Jurisdictions") has received an application fromEquisure Insurance Services Ltd. (formerly Beaufort Exploration Limited) (the "Filer") for a decision under the securitieslegislation of each of the Jurisdictions (the "Legislation") that the Filer be deemed to have ceased to be a reporting issuerunder the Legislation;
AND WHEREAS under the Mutual Reliance Review System for Exemptive Relief Applications (the "System"),the Ontario Securities Commission is the principal regulator for this application;
AND WHEREAS the Filer has represented to the Decision Makers that:
1. Beaufort Exploration Limited (the "Corporation") was incorporated under the laws of Canada on December 29,1977.
2. On December 11, 1996, Equisure Financial Network Inc. acquired all of the issued and outstanding securitiesof the Corporation pursuant to a statutory plan of arrangement.
3. By Articles of Amendment dated December 13, 1996, the Corporation changed its name to the Filer's currentname, Equisure Insurance Services Ltd.
4. the Filer is a corporation organized under the laws of Canada, is a reporting issuer (or equivalent) in each ofthe Jurisdictions and is not in default of any of the requirements of the Legislation;
5. the Filer's head office is located in North Bay, Ontario;
6. the Filer is a wholly-owned subsidiary of Equisure Financial Network Inc. and no person other than EquisureFinancial Network Inc. holds any securities, including debt securities, of the Filer;
7. the Filer's securities are not listed on any exchange and are not available for trading on any exchange ormarket; and
8. the Filer does not intend to seek public financing by way of an issue of securities at this time.
AND WHEREAS under the System, this MRRS Decision Document evidences the decision of each DecisionMaker (collectively, the "Decision");
AND WHEREAS each of the Decision Makers is satisfied that the test contained in the Legislation that providesthe Decision Maker with the jurisdiction to make the decision has been met;
THE DECISION of the Decision Makers under the Legislation is that the Filer is deemed to have ceased to bea reporting issuer under the Legislation.
March 15, 2001.
"John Hughes"