IN THE MATTER OF
THE SECURITIES ACT,
R.S.O. 1990, c. S.5, AS AMENDED
IN THE MATTER OF
OVERSEA CHINESE FUND LIMITED PARTNERSHIP,
WEIZHEN TANG AND ASSOCIATES INC.,
WEIZHEN TANG CORP. AND WEIZHEN TANG
Subsections 127(7) and (8)
WHEREAS on the 17th day of March, 2009, pursuant to subsections 127(1) and (5) of the Securities Act, R.S.O. 1990, c. S.5, as amended (the "Act"), the Ontario Securities Commission (the "Commission") made the following temporary orders (the "Temporary Order") against Oversea Chinese Fund Limited Partnership ("Oversea"), Weizhen Tang and Associates Inc. ("Associates"), Weizhen Tang Corp. ("Corp.") and Weizhen Tang, (collectively the "Respondents"):
1. that all trading in securities of Oversea, Associates and Corp. shall cease;
2. that all trading by the Respondents shall cease; and
3. that the exemptions contained in Ontario securities law do not apply to the Respondents;
AND WHEREAS on March 17, 2009, pursuant to subsection 127(6) of the Act the Commission ordered that the Temporary Order shall expire on the 15th day after its making unless extended by order of the Commission;
AND WHEREAS on March 18, 2009 the Commission issued a Notice of Hearing to consider, among other things, the extension of the Temporary Order, to be held on April 1, 2009 at 2:00 p.m.;
AND WHEREAS the Notice of Hearing sets out that the Hearing is to consider, inter alia, whether, in the opinion of the Commission, it is in the public interest, pursuant to subsections 127(7) and (8) of the Act to extend the Temporary Order until such further time as considered necessary by the Commission;
AND WHEREAS prior to the April 1, 2009 Hearing date, Staff of the Commission ("Staff") served the Respondents with copies of the Temporary Order, Notice of Hearing, and Staff's supporting materials;
AND WHEREAS on April 1, 2009, counsel for the Respondents advised the Commission that the Respondents did not oppose the extension of the Temporary Order;
AND WHEREAS on April 1, 2009, the Commission considered the evidence and submissions before it and the Commission was of the opinion that it was in the public interest to extend the Temporary Order until September 10, 2009;
AND WHEREAS on April 1, 2009, the Commission ordered that the Temporary Order be extended, pursuant to section 127(8) of the Act, to September 10, 2009 and the Hearing be adjourned to September 9, 2009;
AND WHEREAS counsel for the Respondents has advised Staff that counsel for the Respondents requires an adjournment of the Hearing to allow materials to be filed in support of a request that Weizhen Tang be permitted to trade, under supervision, on behalf of certain named investors;
AND WHEREAS the parties have advised the Commission that there will be a contested hearing with respect to Weizhen Tang's request on September 25, 2009.
AND WHEREAS Staff of the Commission has informed the Commission that they will be opposing this request;
AND WHEREAS the Commission considered the parties' correspondence and counsel for Staff and counsel for the Respondents consented to an order extending the Temporary Order until September 26, 2009 and adjourning the Hearing until September 25, 2009 at 10:00 a.m.;
AND WHEREAS the Commission is of the opinion that it is in the public interest to make this Order;
AND WHEREAS pursuant to section 127(8) of the Act, satisfactory information has not been provided to the Commission by any of the Respondents;
AND WHEREAS the Commission has considered the consent of the parties;
IT IS HEREBY ORDERED that the Temporary Order is extended until September 26, 2009; and
IT IS FURTHER ORDERED that the Hearing in this matter is adjourned to September 25, 2009 at 10:00 a.m or as soon thereafter as the hearing can be held.
DATED at Toronto this 8th day of September, 2009.
"David L. Knight"