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 Notice of Intended Decision of the Superintendent of Financial Services to consent, under section 78(1) of the PBA, to a payment out of the pension fund for the Parmalat Canada Salaried Employees Pension Plan, Registration Number 0941278.
Parmalat Canada Inc.
405 The West Mall, 10th Floor
Etobicoke ON M9C 5J1
Applicant and Employer
Willis Towers Watson
175 Bloor Street East, South Tower, Suite 1701
Toronto ON M4W 3T6
NOTICE OF INTENDED DECISION
I INTEND TO CONSENT to the surplus withdrawal application (the “Application”) filed by Parmalat Canada Inc. in respect of the Parmalat Canada Salaried Employees Pension Plan, Registration Number 0941278 (the “Plan”), under section 78(1) of the PBA, requesting the payment out of the pension fund for the Plan, to Parmalat Canada Inc. in the amount of $275,167 as at February 29, 2012, plus adjustments to the actual date of payment.
Si vous désirez recevoir cet avis en français, veuillez envoyer votre demande immédiatement à: Adjointe, audiences, Greffe, Commission des service financiers de l’Ontario, 5160 rue Yonge, boîte 85, Toronto ON M2N 6L9.
YOU ARE ENTITLED TO A HEARING by the Financial Services Tribunal (the “Tribunal”) pursuant to section 89(6) of the PBA. A hearing before the Tribunal about this Notice of Intended Decision may be requested by completing the enclosed Request for Hearing (Form 1) and submitting it to the Tribunal within 30 days after this Notice of Intended Decision is served on you.1 A copy of that form is included with this Notice of Intended Decision. Additional copies can be obtained by visiting the Tribunal’s website at www.fstontario.ca.
If a Request for Hearing (Form 1) is submitted to the Tribunal within 30 days after this Notice of Intended Decision is served on you, sections 89(8) and 89(9) of the PBA provide that the Tribunal shall appoint a time for and hold a hearing, and by order may direct the Superintendent of Financial Services (the “Superintendent”) to make or refrain from making the intended decision indicated in this notice and to take such action as the Tribunal considers the Superintendent ought to take in accordance with the PBA and the regulations, and for such purposes, the Tribunal may substitute its opinion for that of the Superintendent.
IF NO WRITTEN REQUEST FOR A HEARING IS MADE within thirty 30 days after this Notice is served on you, TAKE NOTICE THAT the Superintendent will carry out the CONSENT pursuant to section 89(7) of the PBA.
A completed Request for Hearing form must be received by the Tribunal within 30 days of this Notice is served on you. The Request for Hearing form may be mailed, faxed or delivered to:
Financial Services Tribunal
5160 Yonge Street, 14th Floor
Toronto ON M2N 6L9
Attention: The Registrar
The hearing before the Tribunal will proceed in accordance with the Rules of Practice and Procedure for Proceedings before the Financial Services Tribunal made under the authority of the Statutory Powers Procedure Act, R.S.O. 1990, c. S.22. Those Rules are available at the website of the Tribunal: www.fstontario.ca. Alternatively, a copy can be obtained by telephoning the Registrar of the Tribunal at 416-590-7294, or toll free at 1-800-668-0128 ext. 7294.
I PROPOSE TO MAKE THE CONSENT effective only after the Applicant satisfies me that any payments pursuant to the Surplus Sharing Agreement (“SSA”) to which members, former members and any other persons are entitled, and any other payments to which the members and any other persons are entitled, have been paid, purchased, or otherwise provided for.
REASONS FOR PROPOSAL
I INTEND TO CONSENT FOR THE FOLLOWING REASONS:
DATED at Toronto, Ontario, this 28th day of September, 2017.
Original Signed By
Lester J. Wong
Deputy Superintendent, Pensions
By delegated authority from the
Superintendent of Financial Services
1NOTE - Pursuant to section 112 of the PBA any Notice, Order or other document is sufficiently given, served or delivered if delivered personally or sent by regular mail and any document sent by regular mail shall be deemed to be given, served or delivered on the fifth day after the date of mailing.