Carnarvon Building Supplies Ltd. - May 17, 2007

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 69 of the PBA, respecting the Retirement Plan for the Employees of Carnarvon Building Supplies Ltd. Registration Number 1040518

 

 

TO:                

Darlene Sundercock
Wind-up Customer Service Specialist
London Life Insurance Company
255 Dufferin Avenue
London, ON N6A 4K1

Administrator

 

AND TO:       

Rick Bailey
Vice President
Carnarvon Building Supplies Ltd.
General Delivery
Carnarvon, ON K0M 1J0

Employer

 

AND TO:       

Hanson Lam
Deloitte & Touche Inc.
181 Bay Street, Siute 1400
BCE Place
Toronto, ON M5J 2V1

Receiver

 

NOTICE OF PROPOSAL

 

I PROPOSE TO MAKE AN ORDER under section 69 of the PBA that Retirement Plan for the Employees of Carnarvon Building Supplies Ltd (the “Plan”) be wound up effective May 17, 2002

           

REASONS:

  • There was a cessation or suspension of employer contributions to the pension fund.

 

  • The employer failed to make contributions to the pension fund as required by the PBA

 

  • A significant number of members of the pension plan ceased to be employed by the   employer as a result of the discontinuance of all or part of the business of the employer or as a result of the reorganization of the business of the employer.

  • Such further and other reasons as may come to my attention.

           

YOU ARE ENTITLED TO A HEARING by the Financial Services Tribunal (the Tribunal) pursuant to section 89(6) of the PBA.  To request a hearing, you must deliver to the Tribunal a written notice that you require a hearing, within thirty (30) days after this Notice of Proposal is served on you.*

 

YOUR WRITTEN NOTICE must be delivered to:

Financial Services Tribunal
5160 Yonge Street
14th Floor
Toronto, Ontario
M2N 6L9

Attention: The Registrar

 

FOR FURTHER INFORMATION on a Form for the written notice, please see the Tribunal website at www.fstontario.ca or contact the Registrar of the Tribunal by phone  at 416- 590-7294,  toll free at 1-800-668-0128, ext. 7294, or by fax at 416-226-7750.

 

IF YOU FAIL TO REQUEST A HEARING WITHIN THIRTY (30) DAYS, I MAY CARRY OUT THE PROPOSAL AS DESCRIBED IN THIS NOTICE.

           

DATED at Toronto, Ontario, this 17th day of May, 2007

 

                                                       
K. David Gordon
Deputy Superintendent, Pensions                                                                                                                           

 

 

                                                                                                                                                 *NOTE - Pursuant to section 112 of the PBA any Notice, Order or other document is sufficiently given, served or delivered if delivered personally or sent by regular mail and any document sent by regular mail shall be deemed to be given, served or delivered on the seventh day after the date of mailing.


 
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