National Policy 11-203 Process for Exemptive Relief Applications in Multiple Jurisdictions -- Application for an order that the issuer is not a reporting issuer under applicable securities legislation -- Relief granted.
Applicable Legislative Provisions
Securities Act, R.S.O. 1990, c. S.5, as am., s. 1(10).
Citation: Clean Harbors Industrial Services Canada, Inc., Re, 2009 ABASC 413
August 25, 2009
IN THE MATTER OF
THE SECURITIES LEGISLATION OF
ALBERTA, SASKATCHEWAN, MANITOBA,
ONTARIO, NEW BRUNSWICK, NOVA SCOTIA,
PRINCE EDWARD ISLAND AND
NEWFOUNDLAND AND LABRADOR
IN THE MATTER OF
THE PROCESS FOR EXEMPTIVE RELIEF
APPLICATIONS IN MULTIPLE JURISDICTIONS
IN THE MATTER OF
CLEAN HARBORS INDUSTRIAL SERVICES
The securities regulatory authority or regulators in each of the Jurisdictions (Decision Maker) has received an application from the Filer for a decision under the securities legislation of the Jurisdictions (the Legislation) that the Filer is not a reporting issuer in the Jurisdictions (the Exemptive Relief Sought).
Under the Process for Exemptive Relief Applications in Multiple Jurisdictions (for a coordinated review application):
(a) the Alberta Securities Commission is the principal regulator for this application, and
(b) the decision is the decision of the principal regulator and evidences the decision of each other Decision Maker.
Terms defined in National Instrument 14-101 Definitions have the same meaning if used in this decision, unless otherwise defined.
This decision is based on the following facts represented by the Filer:
1. The Filer was incorporated under the Business Corporations Act (Alberta) (the ABCA) on July 24, 2009 and the Filer's head office is located in Edmonton, Alberta.
2. Effective July 31, 2009, the Filer acquired all of the issued and outstanding common shares of Eveready Inc., by way of a plan of arrangement under the ABCA and amalgamated with Eveready Inc. under the ABCA, thereby becoming a reporting issuer in each of the Jurisdictions.
3. The Filer is applying for a decision that it is not a reporting issuer in each of the Jurisdictions in which it is currently a reporting issuer.
4. On August 6, 2009 the Filer filed a notice of voluntary surrender of reporting issuer status pursuant to British Columbia Instrument 11-502 Voluntary Surrender of Reporting Issuer Status. The Filer ceased to be a reporting issuer in British Columbia effective August 16, 2009.
5. The outstanding securities of the Filer, including debt securities, are beneficially owned, directly or indirectly, by fewer than 15 security holders in each of the Jurisdictions and fewer than 51 security holders in total in Canada.
6. No securities of the Applicant are traded on a marketplace as defined in National Instrument 21-101 Marketplace Operation.
7. The Filer is not in default of any of its obligations under the securities legislation in the Jurisdictions except for its obligation to file its interim financial statements, management discussion and analysis and certifications for the period ended June 30, 2009.
Each of the Decision Makers is satisfied that the decision meets the test set out in the Legislation for the Decision Maker to make the decision.
The decision of the Decision Makers under the Legislation is that the Exemptive Relief Sought is granted.