Order: In the Matter of Michael Shumacher

Order

IN THE MATTER OF THE SECURITIES ACT
R.S.O. 1990, c.S.5, AS AMENDED

- AND -

IN THE MATTER OF
MICHAEL SHUMACHER

ORDER


      WHEREAS on September 28, 2007, the Commission issued a Notice of Hearing pursuant to section 127 of the Securities Act (the “Act”) in respect of the trading of securities in Imagin Diagnostic Centres Inc. (“Imagin”) by Michael Shumacher;

      AND WHEREAS on September 27, 2007 Staff of the Commission filed a Statement of Allegations;

      AND WHEREAS Michael Shumacher entered into a Settlement Agreement dated January 15, 2009 (the “Settlement Agreement”) in relation to the matters set out in the Statement of Allegations;

      AND WHEREAS the Commission issued a Notice of Hearing dated January 15, 2009, setting out that it proposed to consider the Settlement Agreement;

      UPON reviewing the Settlement Agreement, the Notice of Hearing, the Statement of Allegations, and upon considering submissions from Michael Shumacher through his agent and from Staff of the Commission;

      AND WHEREAS the Commission is of the opinion that it is in the public interest to make this Order;

      IT IS HEREBY ORDERED, PURSUANT TO SECTION 127 OF THE ACT, THAT:

 

  1. The Settlement Agreement dated January 15, 2009, between Staff of the Commission and Michael Shumacher is approved;
  2. The Respondent is prohibited for five years from becoming or acting as a director or officer of any issuer, registrant or investment fund manager commencing on the date of this order; and,
  3. The Respondent is prohibited for five years from becoming or acting as a registrant commencing on the date of this order.


Dated at Toronto, Ontario this 16th day of January, 2009

 

" Suresh Thakrar "
Suresh Thakrar
" Kevin J. Kelly "
Kevin J. Kelly