When charged with going 40 Km/H over the limit you may have some options. You could plead Not Guilty(Option #3) and request a Court date. You or your agent should then request and review the Disclosure for your case(All the Evidence that the Prosecutor plans on using against you) and seek out possible Defences. Most speeding tickets are won on technicallities should as improper identification, equipment errors, failing to test the equipment, etc.
If after going through all the evidence it is clear that no defence will work in your favour, do not give up there. You or a Licenced Paralegal can often enter into negotiations with the Prosecutor to see about entering a Guilty Plea to a lower speed. The most common speed to negotiate to from the speed you were charged at would be 69 Km/H in a 40 Km/H zone. This would reduce your fine to the $160 Range(in Total) and would also mean a reduction in the demerit points from 4 to 3. Many insurance companies(although not all....) would view a conviction of less than 30 Km/h over the limit as minor, but beware that some insurance companies would consider any conviction of 49 Km/H over the limit as minor.
If you are unsure of what to look for in the Disclosure or need assistance requesting it, you should read further on www.OntarioHighwayTrafficAct.com or contact a Licenced Paralegal for further information.