IN THE MATTER OF THE SECURITIES ACT
R.S.O. 1990, c. S.5 as amended
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IN THE MATTER OF
SINO-FOREST CORPORATION, ALLEN CHAN, ALBERT IP, ALFRED C.T. HUNG,
GEORGE HO AND SIMON YEUNG
O R D E R
WHEREAS the Ontario Securities Commission (the "Commission") made a temporary order dated August 26, 2011 pursuant to section 127(1) and (5) of the Securities Act, R.S.O. 1990, c. S.5, as amended (the "Act") (the “Temporary Order”);
AND WHEREAS the Temporary Order in this matter includes the following term:
“IT IS FURTHER ORDERED that pursuant to clauses 7 and 8 of section 127(1) of the Act that Chan, Ip, Hung, Ho and Yeung resign any and all positions that they hold as a director or officer of Sino-Forest or any other registrant and that they are prohibited from becoming or acting as director or officer of an issuer” (“the Original Term”);
AND WHEREAS section 127(5) of the Act only permits temporary orders under paragraph 1, 2 or 3 of subsection (1) or subparagraph ii of paragraph 5 of subsection (1);
AND WHEREAS the Executive Director has made application to vary the Temporary Order;
AND WHEREAS the Commission considers it to be in the public interest to make this order;
AND WHEREAS by Authorization Order made July 14, 2011, pursuant to subsection 3.5(3) of the Act, each of Howard I. Wetston, James E. A. Turner, Kevin J. Kelly, James D. Carnwath, Mary G. Condon, Paulette L. Kennedy, Vern Krishna, Christopher Portner and Edward P. Kerwin, acting alone, is authorized, to exercise the powers of the Commission under the Act, subject to subsection 3.5(4) of the Act, to make orders under section 144 of the Act.
IT IS HEREBY ORDERED that pursuant to section 144(1) of the Act the Temporary Order be varied to remove the Original Term; and
IT IS FURTHER ORDERED that all other terms contained in the Temporary Order remain in effect.
DATED at Toronto this 26th day of August, 2011.
Howard Wetston, Chair