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Fc.bmav\\ 21 } 0 ; e t Introduce New Securities Act: ' nTrod uce x 1 7 Abolish Confusi z Aim Is to Abolish Confusion The new Ontario Securities Act, tojlic. Proper filings wi:li havce to pe 4 j islati Proy.| made with the Securities Commig-- E'e uniform legfslatlon in thed : sion, and those offering securities ince along the lines suggested in S|will' have to furnith to the public report of a Royal Commission, Was|a prospectus on primary distribu-- introduced in the Legislature yester--| tion." s day by Attorney--General Blackwell.| The bill, he said, was the rgsuli The act, he said, abolishes present| of co--operation of all in the field, confusion of responsibility, and| and commended itself to all in the represents a return to the concept|securities business. . ( that no Government agency can de--| The House also gave first reading termine if a security is sound. to Mr,. Blackwell's bill concerning "In the act." Mr. Blackwell said, prospecting syndicates w1}h capitat "the theory is abandoned that the| not over $10,000, enabling _ pros» Securities Commission consents to pectors to fqrm syndnpates without the sale of securities as if having complying with the d.ns.closure prin-- Government approval. Prnmoters(ciples of the Securities Act ana will be abligated to tell the truth| providing for purchasers of stock to about zecurities offered to the pub-lrecelve a copy of the agreement. C | + s ' Hogg Appointment ® Questioned by CCF _A newspaper item telling of the appointment of Dr. T. H. Hogg, chief engineer of the Ontario Hydro 'Commission, to a directorship of . llhe Chartered Trust and Executor 'Co., was questioned in the Legislia-- \ture yesterday by Opposition Leader E. B. Jolliffe. "In our view it is not proper that a public servant such as Dr. Hogg should accept such a directorship," said Mr, Jolliffe. "I would like the Government to say whether they approve his appointment in this privately owned company." Premier Drew said he would look into the matter and obtain all necessary information.