| THE SECURITIES ACT | ) |
Order No. 3454 |
) |
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| Section 148 | ) |
August 10, 2001 |
TELESCENE FILM GROUP INC.
WHEREAS:
(A) By Order No. 3438 (the "Order") of The Manitoba Securities Commission (the "Commission") dated July 26, 2001, issued pursuant to section 148(1) of The Securities Act (the "Act"), trading in the securities of TELESCENE FILM GROUP INC. (the "Issuer") was directed to cease forthwith for a period of fifteen days from July 26, 2001 until August 9, 2001 the failure of the Issuer to file with the Commission a copy of its audited Annual/Interim financial statements (the "Audited Financial Statements") for the year/3 months period ended February 28, 2001 & May 31, 2001 as required by section 120(1) Annual/ 129(5) Interim of the Act;
(B) A copy of the Audited Financial Statements has not yet been filed with the Commission;
(C) On the basis of the foregoing, I am of the opinion that it is in the public interest that the direction to cease trading in the securities of the Issuer set out in the Order should be extended until such time as the Issuer complies with the requirements of Part XII of the Act.
I HEREBY ORDER pursuant to a delegation to me by the Commission under subsection 4(1) of the Act of the powers in that behalf:
1. THAT, pursuant to section 148(1) of the Act, the direction to cease trading in the securities of the Issuer set out in the Order is hereby extended until such time as:
(a) the Issuer becomes current in its filings with the Commission under Part XII of the Act and pays all outstanding fees to the Commission; and
(b) the Issuer submits a written request to the Commission to have this order revoked.
DIRECTOR