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THE SECURITIES ACT |
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Order No. 7253 |
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Sections 148, 148.3, and 8 |
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December 16, 2015 |
HUSSAIN DHALA
WHEREAS:
(A) On August 31, 2015, the British Columbia Securities Commission (“BCSC”) issued a Decision against Hussain Dhala (“BCSC Decision”);
(B) On October 28, 2015, The Manitoba Securities Commission (“Commission”) issued a Notice of Hearing (“Notice”) giving notice of its intention to hold a hearing pursuant to section 148.4 of The Securities Act, R.S.M. 1988, c. S50 as amended (“Act”) to consider whether or not it was in the public interest to grant orders with respect to Hussain Dhala (“DHALA”);
(C) On December 16, 2015, this hearing matter came before a panel of the Commission;
(D) 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, 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, DHALA cease trading in securities permanently.
2. THAT, pursuant to section 148.3 of the Act, DHALA resign any position as a director or officer of any issuer and be permanently prohibited from becoming or acting as a director or officer of any issuer.
3. THAT, pursuant to section 8 of the Act, DHALA be permanently prohibited from becoming or acting as a registrant.
BY ORDER OF THE COMMISSION
Director