Retirement Plan for Salaried Employees of Indalex Limited and Associated Companies - April 27, 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(4) of the Act consenting to a payment out of the Retirement Plan for Salaried Employees of Indalex Limited and Associated Companies (the Plan), Registration Number 0533646;

TO:

Wesley Ross
Indalex Limited
706 South State Street
Girard OH 44420
USA

NOTICE OF PROPOSAL

I PROPOSE TO MAKE AN ORDER under s. 78(4) of the Act, consenting to the payment, out of the Plan, to Indalex Limited, as at October 18, 2005 in the amount of $456,166 plus interest to the date of payment for the following reason and such further reasons that may come to my attention:

  1. Indalex Limited is the employer as defined in the Plan.

  2. As a result of an administrative error on the part of Indalex Limited, the 2005 Contribution for the Retirement Plan for the Executive Employees of Indalex Limited and Associated Companies was deposited into the pension fund of the Plan.

  3. Evidence of the overpayment to the fund has been submitted to the Financial Services Commission of Ontario.

  4. The application appears to comply with section 78(4) of the Act.

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

Your written notice requiring a hearing must be delivered to:
Financial Services Tribunal
14th Floor, 5160 Yonge Street
North York ON M2N 6L9

Attention: The Registrar

IF YOU DO NOT DELIVER TO THE TRIBUNAL, WITHIN THIRTY (30) DAYS FROM THE DATE THIS NOTICE OF PROPOSAL IS SERVED ON YOU, A WRITTEN NOTICE THAT YOU REQUIRE A HEARING, I MAY MAKE THE ORDER PROPOSED HEREIN.

DATED at Toronto, Ontario, this 27th day of April, 2006.

K. David Gordon
Deputy Superintendent, Pensions

 

*NOTE—PURSUANT to section 112 of the Act any notice, order or other document is sufficiently given, served, or delivered if delivered personally or sent by first class mail and any document sent by first class mail shall be deemed to be given, served, or delivered on the seventh day after mailing.

 
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