ultimate limitation period in Ontario

For example see:
http://www.canlii.org/en/on/onsc/doc/2006/2006canlii1459/2006canlii1459.html
Noteup:
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"...Section 15 of the New Act establishes an ultimate limitation period of fifteen years. Section 15 states:

15. (1) Even if the limitation period established by any other section of this Act in respect of a claim has not expired, no proceeding shall be commenced in respect of the claim after the expiry of a limitation period established by this section.

(2) No proceeding shall be commenced in respect of any claim after the 15th anniversary of the day on which the act or omission on which the claim is based took place. (Emphasis added.)

Submissions of the City
[7] It is the submission of the City that the ultimate limitation period contained in Section 15 of the New Act overrides the transitional provisions contained in Section 24 and that, regardless which limitation period applies under the transitional provisions, no proceeding can commence more than 15 years after the date on which the act or omission actually took place.

[19] Accordingly, on the basis of principles of statutory interpretation, a purposive analysis of the New Act, a review of source of materials related to the enactment of the New Act and the authorities cited above, I am of the view that Section 15 of the New Act is a bar to this action and an order will issue dismissing the action as against the City of Toronto..."