ARCHIVED - Broadcasting Decision CRTC 2002-309
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Broadcasting Decision CRTC 2002-309 |
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Ottawa, 11 October 2002 |
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Quinte Cablevision Limited |
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Application 2002-0639-3 |
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Transfer of control for estate planning purposes |
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1. |
The Commission has received an application by Quinte Cablevision Limited (Quinte Cablevision) for authority to effect a transfer of control of its Class 2 cable distribution undertaking serving Picton. |
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2. |
The applicant implemented the transfer of one (1) common share in a two-step transaction, from Mr. Joseph Pierce to Mrs. Marjorie Pearce. The first step was the transfer of the share from Mr. Pearce to a spousal trust. In the second step, Mrs. Pearce acquired the one common share from the spousal trust. |
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3. |
As a result of this transaction, effective control of Quinte Cablevision will transfer to Mrs. Pearce. |
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4. |
The Commission notes that the licensee proceeded with the transaction prior to obtaining its approval. The licensee is reminded that it should be in compliance at all times with section 4(4) of the Broadcasting Distribution Regulations. |
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5. |
Based on the particular circumstances underlying this transaction, the Commission approves the application to effect the transfer of control of Quinte Cablevision. |
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6. |
The Commission will modify its ownership records to reflect this transaction. |
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Secretary General |
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This decision is to be appended to the licence. It is available in alternative format upon request, and may also be examined at the following Internet site: www.crtc.gc.ca |
Date Modified: 2002-10-11
- Date modified: