The Securities Commission has approved an application by Uni-Select Inc. for the company to cease being a reporting issuer in all Canadian jurisdictions where it held this status. The decision was made based on several key factors:
1. Uni-Select Inc. is not classified as an OTC reporting issuer.
2. The company’s securities are held by fewer than 15 security holders in each Canadian jurisdiction and under 51 holders globally.
3. Uni-Select Inc.’s securities are not traded on any public marketplace or facility in Canada or internationally.
4. The company is not in violation of any securities legislation.
The order was granted under the authority of the securities legislation, specifically section 1(10)(a)(ii) of the Securities Act (R.S.O. 1990, c. S.5, as amended). The Autorité des marchés financiers served as the principal regulator for the application, and the decision also reflects the concurrence of the securities regulatory authority in Ontario. This outcome allows Uni-Select Inc. to discontinue its obligations as a reporting issuer under Canadian securities laws.