IN THE MATTER OF the Pension Benefits Act, R.S.O. 1990, c. P.8 (PBA)
AND IN THE MATTER OF a Proposal by the Superintendent of Financial Services to make an Order under section 78(1) of the PBA consenting to a payment out of the Laura Secord Retirement Plan for Salaried Employees, Registration Number 351759.
TO:
Parmalat Food Inc.
405 The West Mall
10th Floor
Etobicoke ON M9C 5J1
Attention:
Mr. John Dalton
Pension Advisor
Applicant and Employer
CONSENT
On or about January 31, 2007, the Superintendent of Financial Services caused to be served on Parmalat Food Inc. a Notice of Proposal dated January 31, 2007 to consent, pursuant to section 78(1) of the PBA, to the payment out of the Laura Secord Retirement Plan for Salaried Employees, Registration Number 351759, to Parmalat Food Inc. in the amount of $322,510 as at July 31, 2005 and adjusted for expenses and interest to the actual date of payment.
No Notice requiring a hearing was delivered to the Financial Services Tribunal by the Applicant or any other party within the time prescribed by section 89(6) of the PBA.
THE SUPERINTENDENT OF FINANCIAL SERVICES THEREFORE CONSENTS to the payment out of the Laura Secord Retirement Plan for Salaried Employees, Registration Number 351759, to Parmalat Food Inc. in the amount of $322,510 and adjusted for expenses and interest to the actual date of payment.
THIS CONSENT IS EFFECTIVE ONLY AFTER the Applicant satisfies me that the basic benefits have been paid, or otherwise provided for and the members’ surplus entitlement have been paid or otherwise provided for.
DATED at Toronto, Ontario, this 26 day of March, 2007
___________________________
Tom Golfetto,
Director, Pension Plans Branch
by Delegated Authority from
the Superintendent of Financial Services
copy: Anthony Devir, Osler, Hoskin & Harcourt LLP
Marilyn Johnson, FSCO, Pension Plans Branch
Financial Services Commission of Ontario