The Securities Commission has granted TransAlta Renewables Inc. an order to cease being a reporting issuer in all Canadian jurisdictions where it previously held this status. The decision was made under the securities legislation of Alberta and Ontario, with Alberta’s Securities Commission acting as the principal regulator. The application was made in accordance with National Policy 11-206 for the process of ceasing to be a reporting issuer.
The key facts leading to this decision include:
1. TransAlta Renewables Inc. is not an OTC reporting issuer.
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 public marketplace or facility where trading data is publicly reported.
4. TransAlta Renewables Inc. is not in default of any securities legislation in any jurisdiction.
The decision was supported by the fact that the company met the legislative requirements for ceasing to be a reporting issuer. The order was made by Timothy Robson, Manager of Legal Corporate Finance at the Alberta Securities Commission, and is also representative of the decision of the securities regulatory authority in Ontario.