Order: In the Matter of MI Capital Corporation and One Capital Corp. Limited

Order
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IN THE MATTER OF THE SECURITIES ACT,
R.S.O. 1990, c. S.5, AS AMENDED

- AND -

IN THE MATTER OF MI CAPITAL CORPORATION
and ONE CAPITAL CORP. LIMITED

ORDER
(Subsections 127(1) and 127(10))



    WHEREAS on February 13, 2013, the Ontario Securities Commission (the “Commission”) issued a Notice of Hearing pursuant to subsections 127(1) and 127(10) of the Securities Act, R.S.O. 1990, c. S.5, as amended (the “Act”) in respect of MI Capital Corporation (“MI Capital”) and One Capital Corp. Limited (“One Capital”) (collectively, the “Respondents”);

    AND WHEREAS on February 12, 2013, Staff of the Commission (“Staff) filed a Statement of Allegations in respect of the same matter;

    AND WHEREAS on February 28, 2013, the Commission heard an application by Staff to convert the matter to a written hearing, in accordance with Rule 11.5 of the Commission's Rules of Procedure (2012), 35 OSCB 10071, and section 5.1(2) of the Statutory Powers Procedure Act, R.S.O. 1990, c. S.22, as amended;

    AND WHEREAS the Commission granted Staff’s application to proceed by written hearing and set down a schedule for the submission of materials by the parties;

    AND WHEREAS Staff filed written submissions, a hearing brief and a brief of authorities;

    AND WHEREAS the Respondents did not appear and did not file any materials;

    AND WHEREAS the Respondents are subject to an order dated June 11, 2012 made by the New Brunswick Securities Commission, that imposes sanctions, conditions, restrictions or requirements upon them within the meaning of paragraph 4 of subsection 127(10) of the Act;

    AND WHEREAS I find that it is in the public interest to issue this order pursuant to subsection 127(1) of the Act in reliance upon subsection 127(10) of the Act:

    IT IS HEREBY ORDERED THAT:

(a) pursuant to paragraph 2 of subsection 127(1) of the Act, that trading in any securities by the Respondents shall cease permanently; and

(b) pursuant to paragraph 3 of subsection 127(1) of the Act, that any exemptions contained in Ontario securities law do not apply to the Respondents permanently.

DATED at Toronto this 27th day of March, 2013.

 

" James E. A. Turner "
James E. A. Turner