Case Credit Ltd. - MRRS Decision
Headnote
Mutual Reliance Review System for ExemptiveRelief Applications - Issuer has only one security holder -issuer deemed to 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 LEGISLATIONOF
ALBERTA, SASKATCHEWAN, MANITOBA,ONTARIO, QUEBEC,
NOVA SCOTIA AND NEWFOUNDLANDAND LABRADOR
AND
IN THE MATTER OF
THE MUTUAL RELIANCE REVIEWSYSTEM
FOR EXEMPTIVE RELIEF APPLICATIONS
AND
IN THE MATTER OF
CASE CREDIT LTD.
MRRS DECISION DOCUMENT
1. WHEREAS the local securities regulatoryauthority or regulator (collectively, the "Decision Makers")in each of the provinces of Alberta, Saskatchewan, Manitoba,Ontario, Québec, Nova Scotia and Newfoundland and Labrador(the "Jurisdictions") has received an applicationfrom Case Credit Ltd. ("Case Credit") for a decisionunder the securities legislation of the Jurisdictions (the"Legislation") that Case Credit be deemed to ceaseto be a reporting issuer or its equivalent under the Legislation;
2. AND WHEREAS under the Mutual Reliance ReviewSystem for Exemptive Relief Applications (the "System"),Alberta Securities Commission is the principal regulator forthis application;
3. AND WHEREAS Case Credit has representedto the Decision Makers that:
3.1 Case Credit is a corporation governedby the Canada Business Corporations Act (the "CBCA")with its registered office located at Suite 1900, 333-7thAvenue, S. W., Calgary, Alberta T2P 2Z1;
3.2 Case Credit is a reporting issuer ineach of the Jurisdictions;
3.3 other than failing to file financialstatements for the second quarter ending June 30, 2002,Case Credit is not in default of any of its obligationsas a reporting issuer under the Legislation;
3.4 Case Credit's Medium-Term Note Program,which commenced on October 22, 1998, has now expired andCase Credit has no present intention of raising money bya further public offering of securities;
3.5 Case Credit Corporation is the solesecurity holder of Case Credit and holds 1 issued and outstandingCommon Share of Case Credit. There are no securities, includingpublic debt obligations, other than the Common Share heldby Case Credit Corporation, currently issued and outstanding,and there are no securities of Case Credit listed on anyexchange.
4. AND WHEREAS under the System this MRRSDecision Document evidences the decision of each DecisionMaker (collectively, the "Decision");
5. AND WHEREAS each of the Decision Makersis satisfied that the test contained in the Legislation whichprovides the Decision Maker with the jurisdiction to makethe Decision has been met;
6. THE DECISION of the Decision Maker pursuantto the Legislation is that Case Credit is deemed to have ceasedto be a reporting issuer, or its equivalent, under the Legislation.
November 7, 2002.
"Patricia M. Johnston"