Order: In the Matter of Y

WHEREAS Y (the “Applicant”), was the subject of a proceeding before the Ontario Securities Commission (the “Commission”), commenced by a Notice of Hearing and accompanied by a Statement of Allegations issued by Staff with respect to Y, other individual respondents and Z Corporation, pursuant to sections 127 and 127.1 of the Securities Act, R.S.O. 1990, c. S.5 (the “Act”), which is now a completed matter (the “Commission Proceeding”);

AND WHEREAS an application (the “Application”) has been made by the Applicant for an order pursuant to subsection 17(1) of the Act authorizing the Applicant to use and disclose testimonial and documentary evidence of certain persons that was obtained by Staff of the Commission (“Staff”) in relation to the Commission Proceeding under an order of the Commission made pursuant to section 11 of the Act, in order to provide the Applicant with the ability to make full answer and defence in his criminal trial arising out of charges under section 380(1)(a) of the Criminal Code (the “Criminal Proceeding”);

AND WHEREAS during the Application the Applicant made a motion for directions (the “Motion”) for an order authorizing the Applicant to use and disclose testimonial and documentary evidence of a person who provided evidence to Staff on a voluntary basis, identified as C13 (the “Voluntary Witness”), in order to provide the Applicant with the ability to make full answer and defence in the Criminal Proceeding;

AND WHEREAS the specific materials that are the subject of the Motion are transcripts of examinations, documents that were the subject of the examinations, and other documents produced (the Evidence”);

AND WHEREAS the Voluntary Witness received notice of the hearing for the Application;

AND WHEREAS the Voluntary Witness did not appear at the hearing, but has indicated that he/she has no objection to the order sought by the Applicant in respect of all information provided by them to the Commission;

AND WHEREAS the Commission heard the Application and the motion for directions at a hearing held in camera on November 20, 2008;

AND UPON CONSIDERING the written and oral submissions of the Applicant and the written and oral submissions of Staff;

AND WHEREAS the Commission has determined that it would be in the public interest to grant the Applicant’s request for use and disclosure of the Evidence provided by C13 for the purposes of the Applicant’s full answer and defence in the Criminal Proceeding;

IT IS ORDERED THAT:

1. The Applicant's counsel may make disclosure of and use the Evidence solely for the purpose of the examination of any witness who testifies in the Criminal Proceeding, in order to allow the Applicant to make full answer and defence to the charges made against him in the Criminal Proceeding.
2. Disclosure and use of the Evidence will be on the basis that:
   
   1. The Applicant and his counsel will not use the Evidence other than as expressly permitted by this Order;
   2. Except as expressly permitted by this Order, the Evidence shall be kept confidential;
   3. Any use of the Evidence other than as expressly permitted by this Order will constitute a violation of this Order;
   4. The Applicant and his counsel shall maintain custody and control over the Evidence so that copies of the Evidence and any other information in their possession which was obtained pursuant to or as a result of this Order are not disclosed or disseminated for any purpose other than the use expressly permitted by this Order;
   5. The Applicant's counsel will not file any part of the Evidence on the public record in the Criminal Proceeding unless it is necessary for the Applicant to make full answer and defence in the Criminal Proceeding;
   6. The Evidence shall not be used for any collateral or ulterior purpose;
   7. The Applicant and his counsel shall, promptly after the completion of the trial and any appeals in the Criminal Proceeding, return all copies of the Evidence to Staff or confirm in writing that they have been destroyed; and
   8. This Order does not affect any rights the Respondent has to protection against self-incrimination granted by the Canadian Charter of Rights and Freedoms and the Evidence Act of Ontario.

DATED at Toronto this 18^th day of December, 2008

“Lawrence E. Ritchie ” Lawrence E. Ritchie

“Mary G. Condon” Mary G. Condon