The Securities Commission granted an order for Atlantic Power Limited Partnership to cease being a reporting issuer under applicable securities laws. The decision was based on the following key points:
1. Atlantic Power Limited Partnership is not an OTC reporting issuer under Multilateral Instrument 51-105.
2. The company’s securities are owned by fewer than 15 security holders in each Canadian jurisdiction and fewer than 51 worldwide.
3. No securities of the company are traded on any marketplace or facility where trading data is publicly reported.
4. The company requested to cease being a reporting issuer in all Canadian jurisdictions where it currently holds that status.
5. The company is not in default of any securities legislation in any jurisdiction.
The order was made in accordance with section 1(10)(a)(ii) of the Securities Act, R.S.O. 1990, c. S.5, as amended. The Ontario Securities Commission, as the principal regulator, was satisfied that the company met the necessary criteria to cease being a reporting issuer. The relief was granted under the Process for Cease to be a Reporting Issuer Applications, with the company intending to rely on subsection 4C.5(1) of Multilateral Instrument 11-102 Passport System in various Canadian provinces and territories.