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F-3.1.2 - Act to establish Fondaction, le Fonds de développement de la Confédération des syndicats nationaux pour la coopération et l’emploi
Section 11
Disposition versions
11. A class “A” share or fractional share is redeemable by the Fund only in the following cases:
(1) at the request of a person who has reached 45 years of age and has availed himself of his right to early retirement or retirement or who has reached 65 years of age, if the person acquired the share or fractional share from the Fund at least
(a) two years prior to the request, where the acquisition occurred before 1 June 2024,
(b) three years prior to the request, where the acquisition occurred after 31 May 2024 and before 1 June 2025,
(c) four years prior to the request, where the acquisition occurred after 31 May 2025 and before 1 June 2026, or
(d) five years prior to the request, where the acquisition occurred after 31 May 2026;
(2) at the request of a person who is the holder of the share or fractional share without being the person who acquired it from the Fund, if the person who acquired it from the Fund has reached 65 years of age or, if deceased, would have reached that age had he lived, provided that the share or fractional share was issued by the Fund at least
(a) two years prior to the date of redemption, where the share or fractional share was issued before 1 June 2024,
(b) three years prior to the date of redemption, where the share or fractional share was issued after 31 May 2024 and before 1 June 2025,
(c) four years prior to the date of redemption, where the share or fractional share was issued after 31 May 2025 and before 1 June 2026, or
(d) five years prior to the date of redemption, where the share or fractional share was issued after 31 May 2026;
(3) at the request of a person to whom the share or fractional share has devolved by succession;
(3.1) at the request of a person who is a beneficiary under a registered retirement savings plan within the scope of which the share or fractional share has been transferred to the plan’s trustee by an individual who was the person’s spouse at the time of the transfer, if the individual is deceased;
(4) at the request of a person who acquired the share or fractional share from the Fund, if he applies to the Fund therefor in writing within 60 days after subscribing for the share or fractional share or, in the cases described in section 32, within 60 days after the first deduction from his salary or wages or after the first debit from his account;
(5) at the request of a person who acquired the share or fractional share from the Fund, if he is declared, in the manner prescribed by the Fund, to be suffering from a severe and prolonged physical or mental disability which prevents him from working.
11. A class “A” share or fractional share is redeemable by the Fund only in the following cases:
(1) at the request of a person who acquired the share or fractional share from the Fund at least 730 days prior to the request if, after reaching 45 years of age, he has availed himself of his right to early retirement or retirement or if he has reached 65 years of age;
(2) at the request of a person who is the holder of the share or fractional share without being the person who acquired it from the Fund, if the person who acquired it from the Fund has reached 65 years of age or, if deceased, would have reached that age had he lived, provided that the share or fractional share was issued by the Fund at least 730 days prior to the date of redemption;
(3) at the request of a person to whom the share or fractional share has devolved by succession;
(3.1) at the request of a person who is a beneficiary under a registered retirement savings plan within the scope of which the share or fractional share has been transferred to the plan’s trustee by an individual who was the person’s spouse at the time of the transfer, if the individual is deceased;
(4) at the request of a person who acquired the share or fractional share from the Fund, if he applies to the Fund therefor in writing within 60 days after subscribing for the share or fractional share or, in the cases described in section 32, within 60 days after the first deduction from his salary or wages or after the first debit from his account;
(5) at the request of a person who acquired the share or fractional share from the Fund, if he is declared, in the manner prescribed by the Fund, to be suffering from a severe and prolonged physical or mental disability which prevents him from working.
11. A class “A” share or fractional share is redeemable by the Fund only in the following cases:
(1) at the request of a person who acquired the share or fractional share from the Fund at least 730 days prior to the request if, after reaching 45 years of age, he has availed himself of his right to early retirement or retirement or if he has reached 65 years of age;
(2) at the request of a person who is the holder of the share or fractional share without being the person who acquired it from the Fund, if the person who acquired it from the Fund has reached 65 years of age or, if deceased, would have reached that age had he lived, provided that the share or fractional share was issued by the Fund at least 730 days prior to the date of redemption;
(3) at the request of a person to whom the share or fractional share has devolved by succession;
(3.1) at the request of a person who is a beneficiary under a registered retirement savings plan within the scope of which the share or fractional share has been transferred to the plan’s trustee by an individual who was the person’s spouse at the time of the transfer, if the individual is deceased;
(4) at the request of a person who acquired the share or fractional share from the Fund, if he applies to the Fund therefor in writing within 60 days after subscribing for the share or fractional share or, in the cases described in section 32, within 60 days after the first deduction from his salary or wages or after the first debit from his account;
(5) at the request of a person who acquired the share or fractional share from the Fund, if he is declared, in the manner prescribed by a resolution adopted by the board of directors of the Fund, to be suffering from a severe and prolonged physical or mental disability which prevents him from working.
11. A class “A” share or fractional share is redeemable by the Fund only in the following cases:
(1) at the request of a person who acquired the share or fractional share from the Fund at least 730 days prior to the request if, after reaching 55 years of age, he has availed himself of his right to early retirement or retirement or if he has reached 65 years of age;
(2) at the request of a person who is the holder of the share or fractional share without being the person who acquired it from the Fund, if the person who acquired it from the Fund has reached 65 years of age or, if deceased, would have reached that age had he lived, provided that the share or fractional share was issued by the Fund at least 730 days prior to the date of redemption;
(3) at the request of a person to whom the share or fractional share has devolved by succession;
(4) at the request of a person who acquired the share or fractional share from the Fund, if he applies to the Fund therefor in writing within 60 days after subscribing for the share or fractional share or, in the cases described in section 32, within 60 days after the first deduction from his salary or wages or after the first debit from his account;
(5) at the request of a person who acquired the share or fractional share from the Fund, if he is declared, in the manner prescribed by by-law of the board of directors, to be suffering from a severe and prolonged physical or mental disability which prevents him from working.
11. A class “A” share or fractional share is redeemable by the Fund only in the following cases:
(1) at the request of a person who acquired the share or fractional share from the Fund at least 730 days prior to the request if, after reaching 60 years of age, he has availed himself of his right to early retirement or retirement or if he has reached 65 years of age;
(2) at the request of a person who is the holder of the share or fractional share without being the person who acquired it from the Fund, if the person who acquired it from the Fund has reached 65 years of age or, if deceased, would have reached that age had he lived, provided that the share or fractional share was issued by the Fund at least 730 days prior to the date of redemption;
(3) at the request of a person to whom the share or fractional share has devolved by succession;
(4) at the request of a person who acquired the share or fractional share from the Fund, if he applies to the Fund therefor in writing within 60 days after subscribing for the share or fractional share or, in the cases described in section 32, within 60 days after the first deduction from his salary or wages or after the first debit from his account;
(5) at the request of a person who acquired the share or fractional share from the Fund, if he is declared, in the manner prescribed by by-law of the board of directors, to be suffering from a severe and prolonged physical or mental disability which prevents him from working.
