Order: In the Matter of 7997698 Canada Inc. (carrying on business as International Legal and Accounting Services Inc.), et al.
IN THE MATTER OF THE SECURITIES ACT,
R.S.O. 1990, c. S.5, AS AMENDED
- AND -
IN THE MATTER OF 7997698 CANADA INC., carrying on business as INTERNATIONAL LEGAL AND ACCOUNTING SERVICES INC., WORLD INCUBATION CENTRE, or WIC (ON), JOHN LEE also known as CHIN LEE, and MARY HUANG also known as NING-SHENG MARY HUANG
((Subsection 127(7) or 127(8))
WHEREAS on November 21, 2014, the Ontario Securities Commission (the “Commission”) issued a temporary order, pursuant to subsections 127(1) and 127(5) of the Securities Act, R.S.O., c. S.5., as amended (the “Act”), ordering the following:
- that all trading in any securities by 7997698 Canada Inc., carrying on business as International Legal and Accounting Services Inc., World Incubation Centre, or WIC (ON) (“7997698”), John Lee also known as Chin Lee (“Lee”), and Mary Huang also known as Ning-Sheng Mary Huang (“Huang”) shall cease; and
- that the exemptions contained in Ontario securities law do not apply to any of 7997698, Lee, and Huang (the “Temporary Order”);
AND WHEREAS on November 21, 2014, the Commission ordered that the Temporary Order shall expire on the 15th day after its making unless extended by order of the Commission;
AND WHEREAS on November 24, 2014, the Commission issued a Notice of Hearing to consider, among other things, the extension of the Temporary Order, to be held on Wednesday December 3, 2014, at 10:00 a.m. (the “Notice of Hearing”);
AND WHEREAS the Notice of Hearing set out that the hearing was to consider, among other things, whether, in the opinion of the Commission, it was in the public interest, pursuant to subsections 127(7) and 127(8) of the Act, to extend the Temporary Order until the conclusion of the hearing or until such further time as considered necessary by the Commission;
AND WHEREAS Staff of the Commission (“Staff”) served the Respondents with copies of the Temporary Order, the Notice of Hearing, the Hearing Brief, the Supplementary Hearing Brief, and Staff’s Written Submissions and Brief of Authorities as evidenced by the Affidavits of Service sworn by Steve Carpenter on December 1, 2014, and December 2, 2014, and filed with the Commission;
AND WHEREAS the Commission held a hearing on December 3, 2014, at which Lee attended but Huang did not attend although properly served;
AND WHEREAS the Commission heard submissions from counsel for Staff and from Lee on his own behalf and on behalf of 7997698 and Huang;
AND WHEREAS the Commission is of the opinion that it is in the public interest to make this Order;
IT IS HEREBY ORDERED that the Temporary Order is extended to June 3, 2015; and specifically:
- that all trading in any securities by 7997698, Lee, and Huang shall cease; and
- that the exemptions contained in Ontario securities law do not apply to any of 7997698, Lee, and Huang; and
IT IS FURTHER ORDERED that the Hearing is adjourned to Wednesday, May 27, 2015, at 10:00 a.m or such other date as may be determined by the Office of the Secretary.
DATED at Toronto this 3rd day of December, 2014.
Mary G. Condon