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International Union of Painters and Allied Trades Province of Ontario Pension Plan - September 14, 2006

AND IN THE MATTER OF a Proposal of the Superintendent of Financial Services to Refuse to Make an Order under Section 87(1) of the Act Respecting the International Union of Painters and Allied Trades Province of Ontario Pension Plan, Registration Number 391680 (the“Plan”).

TO:

Board of Trustees of the International Union of Painters and Allied Trades Province of Ontario Pension Plan
C/O Benefit Plans Administrators
135 Queens Plate Drive, Suite 200
Toronto, ON M9W 6V1

Attention: William Nicholls
                 Chair

AND TO:

Residential Painting Contractors of Ontario
411 Confederation Parkway, Unit 18
Toronto, ON L4K 0A8

Attention: Frank La Valle
                 General Manager of the Residential Painting
                 Contractors of Ontario

ORDER

ON or about October 19, 2005, the Superintendent of Financial Services (the “Superintendent”) issued a Notice of Proposal (the “NOP”) (reported at Financial Services Commission of Ontario (FSCO) Pension Bulletin Volume 15, Issue 1 pg. 22) to the Board of Trustees of the International Union of Painters and Allied Trades Province of Ontario Pension Plan (the “Plan”) and the Residential Painting Contractors of Ontario proposing:

1. TO MAKE AN ORDER that the Plan be administered by the Board of Trustees of the Plan (the “Trustees”) without regard to Amendment No. 3 to the Plan; and
   
   
2. TO REVOKE REGISTRATION of Amendment No. 3 to the Plan.

Two versions of AMENDMENT NO. 3 to the Plan dated May 1, 1998 and November 9, 1998, identical in wording, were filed with FSCO. The amendment specifically amends the Agreement and Declaration of Trust Establishing the International Brotherhood of Painters and Allied Trades, Province of Ontario Pension Plan Trust Fund a document that creates and supports the Plan and pension fund for the Plan;

A REQUEST FOR hearing before the Financial Services Tribunal was filed by the Trustees on or about November 11, 2005.

ON March 27, 2006 the request for hearing was withdrawn by the Trustees.

THEREFORE, for the reasons set out in the NOP:

1. IT IS ORDERED that the Plan be administered by the Trustees without regard to Amendment No. 3 to the Plan; and
   
   
2. THE REGISTRATION of Amendment No. 3 to the Plan is hereby revoked.

DATED at Toronto, Ontario, this 14th day of September, 2006

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

CC:

J. Stout Cavalluzzo Hayes Shilton McIntyre & Cornish, Counsel for the Trustees
R. Bauslaugh Blake, Cassels & Graydon, Counsel for the Residential Painting Contractors of Ontario
H. Law Matthews, Dinsdale & Clark LLP, Counsel for the Acoustical Assoication Ontario
K Burley Trustee (Union), I.U.P.A.T., Local 205
A. Colafranceschi Trustee (Union), I.U.P.A.T., District Council 48
M. Colafranceschi Trustee (Union), I.U.P.A.T., District Council 46
R. Desjardins, Trustee (Union), I.U.P.A.T., Local 200
K. Elliot Trustee (Union), I.U.P.A.T., Local 1494
I. Ivankovic Trustee (Union), I.U.P.A.T., District Council 46
D. Lynch Trustee (Union), I.U.P.A.T., District Council 46
G. Smith Trustee (Union), I.U.P.A.T., District Council 46
P. Barry Trustee (Employer), Donalco Inc.
P. Buzzin Trustee (Employer), LPC Limited
T. Clegg Trustee (Employer), Clegg Glass Limited
K. Holland Trustee (Employer)
T. Rinamato Trustee (Employer), Torina Drywall Systems
D. Smith Trustee (Employer), Smith Brothers Contracting Corporation
I. Stone Trustee (Employer), Paramount Painting & Decorating (London)
T. Sumi Trustee (Employer), Vision Painting
R. Viahovic Trustee (Employer), Albion Glass Company
The Ontario Painting Contractors Association
Interior Systems Contractors Association of Ontario
The Architectural Glass and Metal Contractors Association