PAUL UPPAL

WHEREAS:

(A)         On November 12, 2010, the Executive Director of the British Columbia Securities Commission (“BCSC”) entered into a settlement agreement (“Settlement”) with Paul Uppal and made an order against him (“BCSC Order”);

(B)         In the Settlement, Paul Uppal consented to any securities regulator in Canada relying upon the facts admitted in the Settlement solely for the purpose of making an order similar to the one contemplated in the Settlement;

(C)         On January 6, 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 Paul Uppal;

(D)         On February 16, 2011, the hearing as against Paul Uppal proceeded before a panel of the Commission;

(E)         Upon reviewing the documentary evidence and hearing the submissions of counsel for staff of the Commission, no one appearing for the respondent, and upon reviewing the Affidavit of Service, filed, and being satisfied as to service upon the respondent, and upon being advised of the respondent Paul Uppal’s intention to consent to the order sought by staff, 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, Paul Uppal cease trading in securities until November 12, 2016, except that he may purchase and trade mutual funds through such RSP and RESP accounts as he may have held in his own name as of November 12, 2010 through a registered representative, provided he first gives a copy of this order to the registered representative before any trade.

2.                            THAT, pursuant to section 148.3 of the Act, Paul Uppal is prohibited from becoming or acting as a director or officer of any issuer until November 12, 2016.

BY ORDER OF THE COMMISSION

                                                                                Deputy Director Legal