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 87 of the PBA relating to the Eaton Canada Pension Plan, Registration Number 0440396
Eaton Yale Company
c/o Eaton Corporation
111 Superior Avenue
Attention: Gordon Harman
Manager, Retirement Plans
David B. Cole
P.O. Box 64531
ON OR ABOUT March 7, 2008, the Superintendent of Financial Services (the “Superintendent”) issued a Notice of Proposal (the “NOP”) in respect of the Eaton Canada Pension Plan, Registration Number 0440396 (the “Plan”), proposing to refuse to order the Administrator of the Plan to pay a pension to the Applicant and proposing to order the Administrator of the Plan to provide the Applicant with a Termination Statement and to refund the Applicant’s pension plan contributions, plus interest, under section 87 of the PBA.
NO REQUEST FOR HEARING was delivered to the Financial Services Tribunal by the Applicant, the Administrator or any other person within the time prescribed by section 89(6) of the PBA.
For the reasons set out in the NOP, I ORDER the Administrator of the Plan to provide Mr. Cole with a Termination Statement and to refund Mr. Cole’s pension plan contributions, plus interest, under section 87 of the PBA within sixty (60) days of the issuance of this Order.
DATED at Toronto, Ontario, this 28th day of April, 2008.
Director, Pension Plans Branch
by Delegated Authority from
the Superintendent of Financial Services