Pension Enforcement Action

TO:

Soo Mill & Lumber Company Limited
539 Great Northern Road
Sault Ste. Marie ON P6B 5A1

Attention:

Ann Melville
Secretary-Treasurer

Applicant and Employer

AND TO:

Dan Hayhurst
Gowling WLG (Canada) LLP
1 First Canadian Place
1600-100 King Street W
Toronto ON M5X 1G5

CONSENT

ON OR ABOUT, January 4, 2018, the Superintendent of Financial Services caused to be served on Soo Mill & Lumber Company Limited a Notice of Intended Decision dated January 4, 2018, to consent, pursuant to section 78(1) of the PBA, to payment out of the pension fund for the Soo Mill & Lumber Company Limited Executive Pension Plan, Registration Number 0556811, to Soo Mill & Lumber Company Limited in the amount of $4,951,217 as at December 31, 2015, plus adjustments to the actual date of payment.

NO REQUEST FOR HEARING was delivered to the Financial Services Tribunal by the Applicant or any other party within the time prescribed by section 89(6) of the PBA.

THE SUPERINTENDENT OF FINANCIAL SERVICES THEREFORE CONSENTS, for the reasons set out in the Notice of Intended Decision, to the payment out of pension fund for the Soo Mill & Lumber Company Limited Executive Pension Plan, Registration Number 0556811, to Soo Mill & Lumber Company Limited in the amount of $4,951,217 as at December 31, 2015, plus adjustments to the actual date of payment.

THIS CONSENT IS EFFECTIVE ONLY after the Applicant satisfies me that any payments pursuant to the Surplus Sharing Agreement to which members, former members and any other persons (the “Surplus Sharing Group” or “SSG”) are entitled, and any other payments to which the SSG are entitled, have been paid, purchased, or otherwise provided for.

DATED at Toronto, Ontario, this 23rd day of February, 2018.

Gino Marandola
Director, Pension Plans Branch
by Delegated Authority from the
Superintendent of Financial Services