Lindsay Electronics Inc. (Salaried Employees) - July 14, 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 69 of the PBA, respecting the Pension Plan for Salaried Employees of Lindsay Electronics Inc., Registration Number 397836.

TO:

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

Administrator

AND TO:

Ralph J. Russell
Controller and Chief Financial Officer
Lindsay Electronics Inc.
50 Mary Street West
Lindsay ON K9V 2N6

Employer

AND TO:

Ira Smith
Ira Smith Trustee & Receiver Inc.
4711 Yonge Street, Suite 1105
Toronto ON M2N 6K8

Trustee in Bankruptcy

NOTICE OF PROPOSAL

I PROPOSE TO MAKE AN ORDER under section 69 of the PBA that Pension Plan for Salaried Employees of Lindsay Electronics Inc. (the “Plan”) be wound up effective December 2, 2005.


REASONS:

The employer is bankrupt within the meaning of the Bankruptcy and Insolvency Act (Canada).

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 14th day of July , 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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