Securities Law & Instruments

Headnote

Mutual Reliance Review System for ExemptiveRelief Applications - issuer has one beneficial security holder- issuer deemed to have ceased to be a reporting issuer.

Subsection 1(6) of the OBCA - issuer deemedto have ceased to be offering its securities to the public underthe Business Corporations Act (Ontario).

Applicable Ontario Statutory Provisions

Securities Act, R.S.O. 1990, c. S.5, as am.s. 83.

Business Corporations Act, R.S.O. 1990, c. B.16,as am., s. 1(6).

IN THE MATTER OF

THE SECURITIES LEGISLATIONOF

ALBERTA AND ONTARIO

AND

IN THE MATTER OF

THE MUTUAL RELIANCE REVIEWSYSTEM

FOR EXEMPTIVE RELIEF APPLICATIONS

AND

IN THE MATTER OF

TRIPLE G SYSTEMS GROUP, INC.

 

MRRS DECISION DOCUMENT

WHEREAS the local securities regulatoryauthority or regulator (the "Decision Maker")in each of Alberta and Ontario (collectively, the "Jurisdictions")has received an application from Triple G Systems Group, Inc.(the "Corporation") for:

(a) a decision under the securities legislationof the Jurisdictions (the "Legislation")that the Corporation be deemed to have ceased to be a reportingissuer under the Legislation; and

(b) in Ontario only, an order pursuant tothe Business Corporations Act (Ontario) (the "OBCA")that the Corporation be deemed to have ceased to be offeringits securities to the public;

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 the Corporation has representedto the Decision Makers that:

1. The Corporation was incorporated underthe OBCA on January 1, 2003, and has its head office in Markham,Ontario.

2. The Corporation is a reporting issuer inthe Jurisdictions and is not a reporting issuer in any otherjurisdiction in Canada. The Corporation is a corporation offeringits securities to the public under the OBCA.

3. The Corporation is not in default of anyof its obligations as a reporting issuer under the Legislationother than its failure to file interim financial statementsfor the fiscal period ended June 30, 2003.

4. On August 20, 2003, GE Canada EnterprisesCompany ("GE Canada") acquired all of theissued and outstanding shares of Triple G.

5. The authorized share capital of TripleG now consists of an unlimited number of common shares, preferredshares and exchangeable shares.

6. The common shares of Triple G were delistedfrom the Toronto Stock Exchange effective August 21, 2003and no securities of Triple G are listed or quoted on anystock exchange or market.

7. As a result of the acquisition of all theissued and outstanding shares of Triple G by GE Canada, GECanada is the sole beneficial security holder of Triple G.

8. Other than the exchangeable shares, TripleG has no securities, including debt securities, outstanding.GE Canada owns all of the issued and outstanding exchangeableshares.

9. Triple G does not intend to seek publicfinancing by way of an issue of securities.

AND WHEREAS under the System, this MRRSDecision Document evidences the decision of each Decision Maker(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 the Corporation be deemed to have ceasedto be a reporting issuer under the Legislation.

October 1, 2003.

"Wendell S. Wigle"
"H. Lorne Morphy"

AND IT IS HEREBY ORDERED by the OntarioSecurities Commission pursuant to subsection 1(6) of the OBCAthat the Corporation is deemed to have ceased to be offeringits securities to the public for the purposes of the OBCA.

October 1, 2003.

"Wendell S. Wigle"
"H. Lorne Morphy"