| File Type: | Pension |
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| File Number: | P0283-2006 |
| File Name: | TransAlta Corporation |
| Act: | Pension Benefits Act |
| Plan Name: | Dow Chemical Canada Inc. Sarnia Division Hourly Employees' Pension Plan, Registration No. 366609 and TransAlta Corporation Pension Plan, Alberta Registration No. 276209 |
| Applicant: | TransAlta Corporation, Counsel: Philip Morse, Towers Perrin |
| Respondent: | Superintendent of Financial Services |
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File Summary: (Go to latest update) |
On September 15, 2006, TransAlta Corporation (the “Applicant”) requested a hearing regarding the Notice of Proposal of the Deputy Superintendent, Pensions, dated August 10, 2006 proposing to refuse to consent to a transfer of assets, effective March 29, 2002, from the Dow Chemical Canada Inc. Sarnia Division Hourly Employees’ Pension Plan, Registration Number 366609 (the “Plan”), to the TransAlta Corporation Pension Plan, Alberta Registration Number 276209, under section 80 of the Pension Benefits Act. The contemplated transfer was of assets reflecting the liabilities under the Plan in respect of a single plan member. The Deputy Superintendent proposed to refuse approval of that transfer on the basis that he was not satisfied that the terms of the trust for the Plan authorized or permitted the transfer of assets, as required by the principles set out by the Ontario Court of Appeal in Aegon Canada Inc. and Transamerica Life Canada v. ING Canada Inc. On September 27, 2006, the Applicant withdrew the Request for Hearing. Updated to October 6, 2006
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