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THE SECURITIES ACT |
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Order No. 6513 |
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Sections 148, 19(5), and 148.3 |
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April 25, 2012 |
RAVINDER TULSIANI
WHEREAS:
(A) On December 21, 2010, the Ontario Securities Commission (“OSC”) issued an Order (“OSC Order”) approving a Settlement Agreement dated December 17, 2010 between the respondent Ravinder Tulsiani (“TULSIANI”) and the Director, Enforcement Branch of the OSC (“Settlement Agreement”) and making various orders against TULSIANI;
(B) On December 1, 2011, The Manitoba Securities Commission (“Commission”) issued a Notice of Hearing (“Notice”) giving notice of its intention to hold a hearing to consider whether or not it was in the public interest to grant orders pursuant to The Securities Act, R.S.M. 1988, c. S50 as amended (“Act”) with respect to TULSIANI;
(C) This hearing matter came before a panel of the Commission on April 25, 2012;
(D) Upon reviewing the documentary evidence including the Affidavit of Service and hearing the submissions of counsel for staff of the Commission, no one appearing for the respondent, and upon being satisfied as to service upon the respondent, the Commission is of the opinion that it is in the public interest to make this order.
IT IS ORDERED:
1. THAT, pursuant to section 148 of the Act, TULSIANI cease trading in securities until and including December 21, 2018.
2. THAT, pursuant to subsection 19(5) of the Act, subsection 19(1) of the Act, with respect to such of the trades referred to in that subsection, and subsection 19(2) of the Act, with respect to such of the securities referred to in that subsection, do not apply to TULSIANI until and including December 21, 2018.
3. THAT, pursuant to section 148.3 of the Act and the Settlement Agreement, TULSIANI be prohibited from becoming or acting as an officer or a director of any issuer, registrant or investment fund manager until and including December 21, 2018.
BY ORDER OF THE COMMISSION
Director, Legal and Enforcement