42. The administrator of a voluntary retirement savings plan, other than an insurer, that provides such a plan to an employer or an individual must act through a dealer registered in accordance with Title V of the Securities Act (chapter V-1.1) or a person exempt from the registration requirement under that Act. An insurer that provides such a plan to an employer must act through a group insurance representative authorized to provide group annuities within the meaning of the Act respecting the distribution of financial products and services (chapter D-9.2) or through an actuary referred to in section 4 of that Act. When providing such a plan to an individual, the insurer must act through a representative in insurance of persons within the meaning of section 3 of that Act.
However, the administrator of a voluntary retirement savings plan may provide such a plan without acting through a dealer, a person exempt from registration or a representative when no advice is requested or given.