Slater Steel Inc. Pension Plan for Salaried Employees of Slacan Division - February 21, 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 of the Superintendent of Financial Services to make an Order under section 69 of the Act, respecting the Slater Steel Inc. Pension Plan for Salaried Employees of Slacan Division (the “Plan”), Registration Number 0489310.

TO:

David Kearney
Principal
Morneau Sobeco Limited Partnership
895 Don Mills Road, Suite 700
One Morneau Sobeco Centre
Toronto ON M3C 1W3

Administrator

AND TO:

Paul Davis
Vice President
Slater Stainless Corp.
Markborough Place
6711 Mississauga Road, Ste. 202
Mississauga ON L5N 2W3

Employer

AND TO:

Jeff Rosenberg
PricewaterhouseCoopers Inc.
145 King Street West
Toronto ON M5H 1V8

Receiver

ORDER

NO request requiring a hearing was delivered to the Financial Services Tribunal within the time prescribed by subsection 89(6) of the Act respecting a Notice of Proposal to make an Order to wind up the Plan.

IT IS THEREFORE ORDERED that the Plan be wound up in full effective August 31, 1997 for the following reasons:

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

The employer fails to make contributions to the pension fund as required by this Act.

All or part of the employer’s business or all or part of the assets of the employer’s business are sold, assigned or otherwise disposed of and the person who acquires the business or assets does not provide a pension plan for the members of the employer’s pension plan who become employees of the person.

DATED at Toronto, Ontario, this 21st day of February, 2006.

Tom Golfetto
Director, Pension Plans Branch
by Delegated Authority from
the Superintendent of Financial Services