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IN THE MATTER OF THE SECURITIES ACT
R.S.O. 1990, c. S.5, AS AMENDED
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IN THE MATTER OF
BENNETT ENVIRONMENTAL INC., JOHN BENNETT,
RICHARD STERN, ROBERT GRIFFITHS, and
ALLAN BULCKAERT
O R D E R
(Section 127 and 127.1)
WHEREAS on June 2, 2006 , the Ontario Securities Commission (the “Commission”) issued a Notice of Hearing pursuant to sections 127(1) and 127.1 of the Securities Act (the “Act”) in respect of Bennett Environmental Inc., John Bennett, Richard Stern, Robert Griffiths, and Allan Bulckaert;
AND WHEREAS Bennett Environmental Inc. (“BEI”) entered into a settlement agreement with Staff of the Commission (“Staff”) dated June 15, 2006 (the “Settlement Agreement”) in which it agreed to a proposed settlement of the proceeding commenced by the Notice of Hearing, subject to the approval of the Commission;
AND WHEREAS Staff recommend approval of the Settlement Agreement;
AND UPON reviewing the Settlement Agreement and the Notice of Hearing and upon hearing submissions of Staff and counsel for BEI;
AND WHEREAS the Commission is of the opinion that it is in the public interest to make this Order;
IT IS HEREBY ORDERED THAT:
1. the Settlement Agreement is hereby approved;
2. pursuant to clause 4 of subsection 127(1) of the Act, within 30 days from the date of this Order, BEI shall initiate a review of its disclosure and reporting practices and procedures by an independent third party, acceptable to both BEI and Staff, at the expense of BEI ; and
3. pursuant to clause 4 of subsection 127(1) of the Act, BEI will implement any recommendations made by the independent third party that are approved by Staff, within a reasonable period of time as approved by Staff.
DATED at Toronto this 20 th day of June, 2006.
”Paul M. Moore”
Paul M. Moore |
”David L. Knight”
David L. Knight |