Disclaimer
This is a reproduction of a NOID as issued and is provided for reference purposes only. In the event of an inconsistency, the NOID as issued takes precedence over this reproduction.

 

 
Superintendent of
Financial
Services
 
Ontario Coat of Arms
 
Surintendant des
services
financiers
 

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 Notice of Intended Decision of the Superintendent of Financial Services to consent under section 62.1(5) of the PBA to a payment out of the pension fund for the Pension Plan for Magdi Bissada of Bissma Pacific Inc., Registration Number 1195882 (the “Plan”).      

 

TO:

Bissma Pacific Inc.
c/o Grant Thorton Limited
19th Floor, Royal Bank Plaza South Tower
200 Bay Street, Box 55
Toronto ON  M5J 2P9

Attention: Yarina Tarasenko

AND TO:

Gordon B. Lang & Associates Inc.
Suite 260, 1209 – 59th Avenue SE
Calgary AB   T2H 2P6

Attention: Margie Benedict

NOTICE OF INTENDED DECISION

I INTEND TO CONSENT, under section 62.1(5) of the PBA, to the payment out of the pension fund for the Plan in the amount of $11,721 as at December 31, 2010 plus investment earnings to the date of payment.

I INTEND TO CONSENT FOR THE FOLLOWING REASONS:

  1. Bissma Pacific Inc. is the employer and administrator as defined in the Plan (the “Employer”).

  2. As a result of the employer making contributions in excess of what was required under the Actuarial Valuation Report as at December 31, 2010.

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

  4. I am satisfied that the Company’s application for overpayment has been filed within the time limits set out in section 62.1(4) of the PBA.

  5. 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 Intended Decision is served on you.1

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 INTENDED DECISION AS DESCRIBED IN THIS NOTICE.


DATED at Toronto, Ontario, this 27th day of May, 2014

Original Signed By

Brian Mills
Deputy Superintendent, Pensions


1NOTE - 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 fifth day after the date of mailing.

© Queen's Printer for Ontario, 2014