Slater Stainless Corp. Pension Plan for Salaried Members - October 12, 2006

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 69 of the PBA, respecting the Slater Stainless Corp. Pension Plan for Salaried Members, Registration Number 979765.

TO:

Niranja S. Bahi
Associate Consultant
Morneau Sobeco Limited Partnership
895 Don Mills Road, Suite 700
One Morneau Sobeco Centre
Toronto, ON M3C 1W3

Administrator

AND TO:

Paul Davis
Senior Vice President
Slater Stainless Corp.
One Centre Street
PO Box 1000
Welland, ON L3B 5R7

Employer

AND TO:

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

Trustee in Bankruptcy


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 Slater Stainless Corp. Pension Plan for Salaried Members (the “Plan”).

IT IS THEREFORE ORDERED that the Plan be wound up in full effective August 30, 2004 and include the class of members whose employment or membership terminated during the period of August 29, 2003 and August 30, 2004 for the following reasons:

A significant number of members of the pension plan ceased to be employed by the employer as a result of the discontinuance of all or part of the business of the employer or as a result of the reorganization of the business of the employer.

All or a significant portion of the business carried on by the employer at a specific location was discontinued.

 

DATED at Toronto, Ontario, this 12th day of October, 2006


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


 
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