The Securities Commission granted an order for Atlantic Power Preferred Equity Ltd. (the Filer) to cease being a reporting issuer under the applicable securities laws. The decision was based on the following key points:
1. The Filer is not an OTC reporting issuer as per Multilateral Instrument 51-105.
2. The Filer’s securities are held by fewer than 15 security holders in each Canadian jurisdiction and less than 51 worldwide.
3. The Filer’s securities are not traded on any public marketplace or facility in Canada or elsewhere.
4. The Filer has requested to cease being a reporting issuer in all Canadian jurisdictions where it currently has that status.
5. The Filer is not in default of any securities legislation in any jurisdiction.
The Ontario Securities Commission, acting as the principal regulator, determined that the Filer met the legislative requirements to cease being a reporting issuer, as outlined in the Securities Act, R.S.O. 1990, c. S.5, specifically section 1(10)(a)(ii). The relief was granted in accordance with the Process for Cease to be a Reporting Issuer Applications and was also recognized in other Canadian jurisdictions through Multilateral Instrument 11-102 Passport System.