SIXTH FLOOR, 900 HOWE STREET, BOX 250 VANCOUVER, B.C. V6Z 2N3 CANADA IN THE MATTER OF the Utilities Commission Act, S.B.C. 1980, c. 60, as amended and An Application by Novagas Clearinghouse Core Ltd. for Approval of an Agents/Brokers/Marketers Licence BEFORE: M.K. Jaccard, Chairperson; and ) L.R. Barr, Deputy Chairperson ) November 2, 1995 ORDER WHEREAS: A. On October 16, 1995 Novagas Clearinghouse Core Ltd. ("NCCL") applied to the Commission for approval of an Agents/Brokers/Marketers Licence ("A/BIM Licence"); and B. The Application was made pursuant to the Commission's March 11, 1993 Decision on Domestic Natural Gas Supply Rules which requires that any person intending to act in the capacity of an Agent/Broker/Marketer to provide advice to, or act on behalf of, core market consumers purchasing gas directly in the Province of British Columbia, obtain an A/B/M Licence from the Commission; and C. On October 17, 1995 NCCL filed with the Commission a surety performance bond with Boreal Pacific division of Boreal Property and Casualty Insurance Company in the amount of $250,000 that is to be used to guarantee the performance of NCCL's gas supply contracts; and D. The Commission has reviewed the Application by NCCL and, relying upon the information and representations made by NCCL contained in the Application, finds that approval of an A/B/M Licence, subject to conditions, is required. NOW THEREFORE the Commission orders as follows: 1.0 The Commission issues to NCCL an A/B/M Licence for the period up to and including October 31, 1996. 2.0 The AlBIM Licence is issued subject to the following conditions: 2.1 NCCL will carry out the undertakings set out in Section 19 of its October 16, 1995 Application; 2.2 NCCL will comply with the approved A/B/M Code of Conduct; 2.3 NCCL will maintain the Performance Bond in full force and effect for the duration of the A/B/M Licence; .. ./2
2 2.4 NCCL will maintain a Working Capital position of at least $50,000 and a Current Ratio of current assets to current liabilities of at least 1.10; 2.5 The Commission may, at any time and without prior notice to NCCL, withdraw the A/B/M Licence for reasons the Commission, in its sole discretion, deems and considers sufficient; and 2.6 The A/B/M Licence and all copies of it shall remain the property of the Commission and NCCL will return these documents forthwith upon written request from the Commission. DATED at the City of Vancouver, in the Province of British Columbia, this Commission ORDERINovagasABM Lie.A-7-95 day of November, 1995. BY ORDER Dr. Mark K. Jac:cal"d Chairperson
-<,.\'0'(\ COL , g~': -~ ~;",-......~ S .~ ~1t~ ::. /.~ ~, ' "/ /.' . .. , -... ~ ~ /~ .. .. ..--J /~S CO~~\ AGENTS/BROKERS/MARKETERS LICENCE NOVAGAS CLEARNGHOUSE CORE LTD. is granted a licence for the purpose ofproviding advice to, or acting on behalfof, core market customers purchasing gas directly in the Province ofBritish Columbia subject to the terms and conditions contained in Commission Order No. A-7-95, which are set out on the reverse of the Licence. BRITISH COLUMBIA UTILITIES COMMISSION ~---l~ DATE: NOVEMBER 2, 1995 EXPIRES: NOVEMBER 1, 1996UA _ ~ ''7<9 ~ ~ ~ f~~ 0 2 CERTIFICATE A-7-95 . ... . ... . ... r r : _ J 7 CZRPERSON
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