Securities Law & Instruments

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, ONTARIO,QUÉBEC,

NOVA SCOTIA, AND NEWFOUNDLANDAND LABRADOR

AND

IN THE MATTER OF

THE MUTUAL RELIANCE REVIEWSYSTEM

FOR EXEMPTIVE RELIEF APPLICATIONS

AND

IN THE MATTER OF

AT PLASTICS INC.

 

MRRS DECISION DOCUMENT

WHEREAS the local securities regulatoryauthority or regulator (the "Decision Maker") in eachof Alberta, Saskatchewan, Ontario, Québec, Nova Scotia,and Newfoundland and Labrador (the "Jurisdictions")has received an application from AT Plastics Inc. ("AT")for a decision under the securities legislation of the Jurisdictions(the "Legislation") that AT be deemed to have ceasedto be a reporting issuer under the Legislation;

AND WHEREAS under the Mutual RelianceReview System for Exemptive Relief Applications (the "System"),the Ontario Securities Commission is the principal regulatorfor this application;

AND WHEREAS, unless otherwise defined,the terms herein have the meaning set out in National Instrument14-101 Definitions or in Québec Commission Notice 14-101;

AND WHEREAS AT has represented to theDecision Makers that:

1. AT is a corporation incorporated underthe Business Corporations Act (Ontario) (the "OBCA")on March 14, 1989.

2. The registered head and principal officeof AT is located in Brampton, Ontario.

3. Pursuant to an amalgamation completed undersection 175 of the OBCA and effective August 5, 2003 (the"Amalgamation"), 2028569 Ontario Limited, a wholly-ownedsubsidiary of Acetex Corporation ("Acetex") amalgamatedwith AT.

4. As a result of the Amalgamation, Acetexholds all of the issued and outstanding common shares of AT.

5. AT is a reporting issuer, or the equivalent,in each of the Jurisdictions and is not in default of anyrequirements of the Legislation except the requirement tofile interim financial statements within 60 days of June 30,2003. The interim financial statements were due subsequentto the Amalgamation.

6. The Common Shares of AT were delisted fromthe Toronto Stock Exchange at the close of trading on August7, 2003 and no securities of AT, including debt securities,are listed or quoted on any exchange or market.

7. AT has options ("Options") outstandingto acquire approximately 666,917 common shares of Acetex.

8. Other than the Common Shares and the Options,AT has no securities, including debt securities, outstanding.

9. AT does not intend to seek public financingby way of an offering of its securities.

AND WHEREAS pursuant to the System, thisMRRS Decision Document evidences the decision of each DecisionMaker (collectively, the "Decision");

AND WHEREAS each of the Decision Makersis satisfied that the test contained in the Legislation thatprovides the Decision Maker with the jurisdiction to make theDecision has been met;

THE DECISION of the Decision Makers underthe Legislation is that AT is deemed to have ceased to be areporting issuer under the Legislation.

September 10, 2003.

"Paul K. Bates"
"H. Lorne Morphy"