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Genfast Manufacturing Company Reitrement Plan for Salaried Employees - October 11, 2007

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 Genfast Manufacturing Company Retirement Plan for Salaried Employees Registration  Number 697276.

TO:

Lois Reyes, Senior Manager
PricewaterhouseCoopers Inc.
Mississauga Executive Centre
One Robert Speck Parkway, Suite 1100
Mississauga, ON L4Z 3M3


Administrator

AND TO:

Wayne Stemmier, Controller
Genfast Manufacturing Company
225 Henry Street
Brantford, ON
N3S 7R4

Employer

AND TO:

Brad Newton, Vice-President
KPMG Inc.
199 Bay Street, Suite 3300
Commerce Court West
Toronto, ON
M5L 1B2

Trustee in Bankruptcy

AND TO:

Nicholas Brearton, Senior Vice-President
KPMG Inc.
199 Bay Street, Suite 3300
Commerce Court West
Toronto, ON
M5L 1B2

Receiver

NOTICE OF PROPOSAL

I PROPOSE TO MAKE AN ORDER under section 69 of the PBA  that the Genfast Manufacturing Company  Retirement Plan for Salaried Employees (the “Plan”) be wound up effective April 5, 2007.

REASONS:

• The employer failed to make contributions to the pension fund as required by the PBA.
  
  
• The employer is bankrupt within the meaning of the Bankruptcy and Insolvency Act (Canada).
  
  
• 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.
  
  
• Such further and other reasons as may 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 11th day of October, 2007    

______________________________

K. David Gordon
Deputy Superintendent, Pensions

* NOTE - 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 seventh day after the date of mailing.