Retirement Plan for Biltrite Rubber (1969) Limited - November 9, 2006

AND IN THE MATTER OF a Proposal by the Superintendent of Financial Services to make an Order under section 78(1) of the PBA consenting to a payment out of the Retirement Plan for Biltrite Rubber (1969) Limited, Registration Number 401372.

TO:

Lou & Rose Holdings Inc.
170 North Queen Street
Etobicoke, ON
M9C 1A8

Attention: Marvin Sherkin
President

NOTICE OF PROPOSAL

I PROPOSE TO MAKE AN ORDER under section 78(1) of the PBA, consenting to the payment, out of Retirement Plan for Biltrite Rubber (1969) Limited (the “Plan”), Registration Number 401372 to Lou & Rose Holdings Inc., in the amount of $304,879 as at February 28, 2005 plus interest to the actual date of payment.

REASONS:

1. Lou & Rose Holdings Inc. is the employer as defined in the Plan.
   
   
2. The Plan was wound up, effective February 28, 2005.
   
   
3. As at February 28, 2005 the surplus in the Plan was estimated at $304,879.00.
   
   
4. The Plan provides for payment of surplus to the Employer on the wind up of the Plan.
   
   
5. The application discloses that by written agreement made by the Employer, and the sole member, the surplus in the Plan at the date of payment, after deduction of wind up expenses is to be distributed 100% to the employer.
   
   
6. The Employer has applied, pursuant to section 78 of the PBA, and section 8(1)(b) of Regulation 909, R.R.O. 1990 (Regulation), for consent of the Superintendent of Financial Services to the payment of 100% of the surplus in the Plan.
   
   
7. The application appears to comply with sections 78 and 79(3) of the PBA and with sections 8(1)(b), 28(5), 28(5.1) and 28(6) of the Regulation.
   
   
8. Such further and other reasons as come to my attention.
   

YOU ARE ENTITLED TO A HEARING by the Financial Services Tribunal (the “Tribunal”) pursuant to section 89(6) of the PBA. To request a hearing, you must deliver to the Tribunal a written notice that you require a hearing, within thirty (30) days after this Notice of Proposal is served on you.*

YOUR WRITTEN NOTICE must be delivered to:

Financial Services Tribunal
5160 Yonge Street
14th Floor
Toronto, Ontario
M2N 6L9

Attention: The Registrar

FOR FURTHER INFORMATION on a Form for the written notice, please see the Tribunal website at www.fstontario.ca or contact the Registrar of the Tribunal by phone at
416- 590-7294, toll free at 1-800-668-0128, ext. 7294, or by fax at 416-226-7750.

IF YOU FAIL TO REQUEST A HEARING WITHIN THIRTY (30) DAYS, I MAY CARRY OUT THE PROPOSAL AS DESCRIBED IN THIS NOTICE.

DATED at Toronto, Ontario, this 9th day of November, 2006



K. David Gordon
Deputy Superintendent, Pensions

*NOTE—PURSUANT to section 112 of the Act any notice, order or other document is sufficiently given, served, or delivered if delivered personally or sent by first class mail and any document sent by first class mail shall be deemed to be given, served, or delivered on the seventh day after mailing.