IN THE MATTER OF the Pension Benefits Act, R.S.O. 1990, c. P.8 (the “Act”), in particular sections 18 and 89;
AND IN THE MATTER OF the Pension Plan for Presidents of 1479888 Ontario Inc., Registration Number 1073147 (the “Plan”).
On June 22, 2023, pursuant to section 18 of the Act, and by delegated authority from the Chief Executive Officer of the Financial Services Regulatory Authority of Ontario (the “Chief Executive Officer”), the Head, Pension Plan Operations and Regulatory Effectiveness (the “Head”) issued a Notice of Intended Decision to make an order under section 18 of the Act revoking registration of the Plan.
On June 29, 2023, the Notice of Intended Decision was delivered to Elbert Ross, the individual appointed by the Plan administrator to carry out administrative tasks on behalf of the Plan. Subsection 89(6) of the Act provides that any person on whom a Notice of Intended Decision is served has thirty (30) days after the Notice of Intended Decision is served to request a hearing by the Financial Services Tribunal (the “Tribunal”).
On August 9, 2023, the Registrar of the Tribunal confirmed that Elbert Ross did not request a hearing by the Tribunal in accordance with section 89 of the Act. Therefore, pursuant to sections 87 and 89 of the Act, and by delegated authority from the Chief Executive Officer, the Head makes the following order.
The registration of the Pension Plan for Presidents of 1479888 Ontario Inc., Registration Number 1073147, is hereby revoked, for the reasons set out in the Notice of Intended Decision.
DATED at Toronto, Ontario, August 10, 2023.
Original signed by
Head, Pension Plan Operations and Regulatory Effectiveness
By delegated authority from the Chief Executive Officer
Si vous desirez recevoir cet avis en français, veuillez nous envoyer votre demande par courriel immediatement a : email@example.com.