Pension Plan for Hourly Employees of Electrohome Ltd. -   January 23, 2006

IN THE MATTER OF the Pension Benefits Act, R.S.O. 1990, c. P.8, as amended (the Act);

AND IN THE MATTER OF a Proposal by the Superintendent of Financial Services to make an Order under subsection 78(1) of the Act consenting to a payment out of the Pension Plan for Hourly Employees of Electrohome Limited , Registration Number 0551788.

TO:

Electrohome Limited
809 Wellington Street North
Kitchener ON N2G 4J6

Attention:

Mr. Gary Dumoulin
Vice President and Secretary

Applicant and Employer

CONSENT

ON or about October 26, 2005, the Superintendent of Financial Services caused to be served on Electrohome Limited a Notice of Proposal dated October 26, 2005 to consent, pursuant to subsection 78(1) of the Act, to the payment out of the Pension Plan for Hourly Employees of Electrohome Limited , Registration Number 0551788, to Electrohome Limited in the amount of $440,000 as at April 30, 2001 adjusted for expenses and investment income.

NO NOTICE requiring a hearing was delivered to the Financial Services Tribunal by the Applicant or any other party within the time prescribed by subsection 89(6) of the Act.

THE SUPERINTENDENT OF FINANCIAL SERVICES THEREFORE CONSENTS to the payment out of the Pension Plan for Hourly Employees of Electrohome Limited , Registration Number 0551788, to Electrohome Limited in the amount of $440,000 as at April 30, 2001 adjusted for expenses and investment income.

THIS CONSENT IS EFFECTIVE ONLY AFTER the Applicant satisfies me that
all benefit and benefit enhancements pursuant to the surplus distribution agreement and any other payment to which the members, former members and any other persons entitled to payments have been paid, purchased or otherwise provided for.

DATED at Toronto, Ontario, this 23rd day of January, 2006.

Tom Golfetto,
Director, Pension Plans Branch
by Delegated Authority from
the Superintendent of Financial Services

 
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