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 87 of the PBA that the Administrator of The Colleges of Applied Arts and Technology Pension Plan, Registration Number 0589895 comply with section 8(1)(e) of the PBA.
TO:
Ontario College Retirees’ Association
111 Merton Street, #410
Toronto, ON M4S 3A7
Attention:
Robert Pando
PresidentApplicant
AND TO:
Colleges of Applied Arts and Technology Pension Plan
2 Queen Street East, Suite 1400
Toronto, ON M5C 3G7
Attention:
Paul E. Owens
Plan Manager & CEOAdministrator
Fred Fotopoulos
Director, Finance
Board of Trustees
ORDER
ON or about November 9, 2006, the Superintendent of Financial Services (the “Superintendent”) issued a Notice of Proposal (the “NOP”) proposing to make an order that the Board of Trustees (the “Board”) of The Colleges of Applied Arts and Technology Pension Plan (the “Plan”) modify the composition of the Board to comply with section 8(1)(e) of the PBA.
A REQUEST FOR hearing before the Financial Services Tribunal was not made within the time limits set out in section 89(6) of the PBA.
THEREFORE, for the reasons set out in the NOP, it is ordered that the Board modify the composition of the Board to comply with section 8(1)(e) of the PBA
DATED at Toronto, Ontario, this 15th day of March, 2007
_____________________________
Tom Golfetto
Director, Pension Plans Branch
by Delegated Authority from
the Superintendent of Financial Service
CC:
TO:
Bellmore & Moore
Barristers
393 University Avenue, Suite 1600
Toronto, ON M5G 1E6
Attention: Brian P. Bellmore
Counsel for the Applicant
AND TO:
Gowling Lafleur Henderson LLP
1 First Canadian Place
100 King Street West, Suite 1600
Toronto, ON M5X 1G5
Attention:
Daniel R. Hayhurst
Counsel for the Administrator
Financial Services Commission of Ontario