The Securities Commission has granted Turquoise Hill Resources Ltd. (the Filer) an order to cease being a reporting issuer. The decision is based on the Filer meeting the conditions specified in the securities legislation of the relevant Canadian jurisdictions. The key points leading to this decision include:
1. The Filer is not an OTC reporting issuer under the specified Quebec regulation.
2. The Filer has fewer than 15 security holders in each jurisdiction in Canada and fewer 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 order is supported by the legislative test set out in the Securities Act, R.S.O. 1990, c. S.5, as amended, specifically section 1(10)(a)(ii). The decision reflects the consensus of the Decision Makers in the relevant jurisdictions, with the Autorité des marchés financiers acting as the principal regulator for the application. The order is also recognized by the securities regulatory authority or regulator in Ontario.