Decision No. 1992-MV-450

December 29, 1992

December 29, 1992

IN THE MATTER OF the proposed capital reorganization possibly resulting in the acquisition of an increased interest by the existing minority public shareholders of Greyhound Lines of Canada Ltd.; and

IN THE MATTER OF an application by Greyhound Lines of Canada Ltd. for an exemption from the application of Part VII of the National Transportation Act, 1987, R.S.C., 1985, c. 28 (3rd Supp.) (hereinafter the NTA, 1987) pursuant to subsection 253(6) of the NTA, 1987.


WHEREAS Greyhound Lines of Canada Ltd. (hereinafter Greyhound) proposes to institute a number of share transactions to facilitate a corporate reorganization for the purpose of transferring its non transportation related subsidiaries, Motor Coach Industries Limited and Frank Fair Industries Ltd., from Greyhound's control to its parent, Greyhound Canada Holdings Ltd., wherein the minority public shareholders of Greyhound may increase their voting interest in Greyhound from 31 percent to 46 percent;

AND WHEREAS Greyhound is a transportation undertaking subject to the legislative authority of Parliament;

AND WHEREAS there will be no change in control of the transportation undertaking as a result of the proposed reorganization of Greyhound's capital;

AND WHEREAS the corporate reorganization is an internal reorganization involving no outside parties;

AND WHEREAS the National Transportation Agency has determined that the proposed reorganization of Greyhound's capital will have no negative impact on other carriers or travellers and will not jeopardize the public interest;

AND WHEREAS the Agency has reviewed the submissions filed.

NOW THEREFORE, IT IS ORDERED THAT:

Pursuant to subsection 253(6) of the NTA, 1987, the proposed reorganization of Greyhound's capital wherein the minority public shareholders of Greyhound may increase their voting interest in Greyhound from 31 percent to 46 percent is hereby exempted from the application of Part VII of the NTA, 1987.

Date modified: