Modine of Canada, Ltd. - August 30, 2006

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

AND IN THE MATTER of a Proposal of the Superintendent of Financial Services to make an Order under section 83 and 89 of the PBA, respecting the Pension Plan for Hourly-Rated Employees of Modine of Canada, Ltd., Registration Number 479113.

TO:

Ms. Sharon Carew
PricewaterhouseCoopers Inc.
Mississauga Executive Centre
One Robert Speck Parkway, Suite 1100
Mississauga ON L4Z 3M3

Administrator

AND TO:

Mr. R. Smith
Personnel Manager
Modine of Canada, Inc.
1231 Martingrove Road
Rexdale ON M9W 4X2

Employer

DECLARATION

No request requiring a hearing was delivered to the Financial Services Tribunal within the time prescribed by subsection 89(6) of the PBA requesting a Notice of Proposal to make a Declaration that the Pension Benefits Guarantee Fund applies to Pension Plan for Hourly-Rated Employees of Modine of Canada, Ltd., Registration Number 479113, (the “Plan”).

I DECLARE pursuant to sections 83 and 89 of the PBA that the Pension Benefits Guarantee Fund (Guarantee Fund) applies to the Plan for the following reasons:

  1. The Plan is registered under the PBA, and

  2. The Plan provides defined benefits that are not exempt from the application of the Pension Benefits Guarantee Fund by the PBA or the Regulations made thereunder, and

  3. The plan was wound up effective July 14, 1989, and

  4. There are reasonable and probable grounds that the funding requirements of the PBA and regulations cannot be satisfied. If any funds are recovered for the Plan by the administrator, the administrator will be required to make an appropriate refund of any allocation amount received by the Plan from the Pension Benefits Guarantee Fund.

 

DATED at Toronto, Ontario, this 30th day of August, 2006.


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

 
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