R-15.1, r. 4 - Regulation respecting measures to reduce the effects of the financial crisis on pension plans covered by the Supplemental Pension Plans Act

Section 4 Disposition versions

2012-09-01

4. If the date of the actuarial valuation referred to in section 2 is prior to 1 January 2010, the following rules apply, as of the valuation date, to a pension plan for which instructions are given under that section:

(1)  the plan is exempt from the application of subparagraph 4 of the second paragraph of section 24, sections 39, 39.1, 41, 42, 101, 116 to 146 and 172 and paragraph 1 of section 258 of the Act;

(2)  the provisions of the Act below apply to the plan subject to the following amendments:

(a)  in the second paragraph of section 195, “subdivision 1 of Division II of Chapter X” is replaced by “sections 134 to 139”;

(b)  in the fifth paragraph of section 288.1.1, “31 December 2009” is replaced by “the date of the first complete actuarial valuation of the plan dated after 30 December 2008”;

(3)  the following provisions of the Act, as amended or enacted by chapter 42 of the Statutes of 2006, and with any amendments made by this Regulation, apply to the plan, subject to the amendments made to the Act by chapter 21 of the Statutes of 2008: sections 39, 39.1, 41, 42, 42.1, 101, 116 to 146 and 172, paragraph 1 of section 258 and section 306.7.1;

(4)  section 288.3 of the Act, enacted by section 24 of chapter 21 of the Statutes of 2008, applies to the plan by replacing “1 January 2010” by “the date of the first complete actuarial valuation of the plan dated after 30 December 2008”;

(5)  section 305.2 of the Act, enacted by section 26 of chapter 21 of the Statutes of 2008, applies to the plan by replacing “must be later than 14 December 2009” by “may not be prior to the date of the first complete actuarial valuation after 30 December 2008, in the case of an amendment that is made or takes effect on or after that date”;

(6)  sections 15.0.0.1 to 15.0.0.10 and 60.1 to 60.5 of the Regulation respecting supplemental pension plans (chapter R-15.1, r. 6), made by Order in Council 1073-2009 dated 7 October 2009.

O.C. 1153-2009, s. 4.