The Securities Commission has granted an application by Silver Lake Ontario Inc. for the company to cease being a reporting issuer in all Canadian jurisdictions where it held this status. The decision was made under the authority of the Securities Act, R.S.O. 1990, c. S.5, specifically section 1(10)(a)(ii). The Ontario Securities Commission acted as the principal regulator for this application, in accordance with National Policy 11-206 Process for Cease to be a Reporting Issuer Applications.
The decision was based on several key representations by Silver Lake Ontario Inc.:
1. The company is not an OTC reporting issuer as per Multilateral Instrument 51-105.
2. The company’s securities are held by fewer than 15 security holders in each Canadian jurisdiction and fewer than 51 worldwide.
3. The company’s securities are not traded on any public marketplace or facility where trading data is reported.
4. The company has requested to cease being a reporting issuer in all Canadian jurisdictions where it currently has this status.
5. The company is not in default of any securities legislation in any jurisdiction.
The principal regulator concluded that the company met the legislative requirements to cease being a reporting issuer and therefore approved the application.