F-3.2.1 - Act to establish the Fonds de solidarité des travailleurs et des travailleuses du Québec (FTQ)

Section 10 Disposition versions

2024-06-01

10. 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 shareholder, who did not acquire the share or fractional share 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, in either case, 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 the person on whom the share or fractional share has devolved by succession;

(3.1)  at the request of the 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 the person who acquired the share or fractional share from the Fund, if he applies to it therefor in writing within 60 days of subscribing the share or fractional share or, in the case provided for in section 26, within 60 days of the first deduction from his salary or wages;

(5)  at the request of the 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.

1983, c. 58, s. 10; 1989, c. 5, s. 6; 1989, c. 78, s. 4; 1997, c. 14, s. 6; 2011, c. 6, s. 91; 2021, c. 15, s. 62; 2024, c. 11, s. 35.

2021-06-02

10. A class “A” share or fractional share is redeemable by the Fund only in the following cases:

(1)  at the request of the person who acquired the share or fractional share from the Fund at least 730 days prior to redemption 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 the shareholder, who did not acquire the share or fractional share from the Fund, if the person who had acquired it from the Fund has reached 65 years of age or, if deceased, would have reached that age had he lived provided that, in either case, 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 the person on whom the share or fractional share has devolved by succession;

(3.1)  at the request of the 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 the person who acquired the share or fractional share from the Fund, if he applies to it therefor in writing within 60 days of subscribing the share or fractional share or, in the case provided for in section 26, within 60 days of the first deduction from his salary or wages;

(5)  at the request of the 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.

1983, c. 58, s. 10; 1989, c. 5, s. 6; 1989, c. 78, s. 4; 1997, c. 14, s. 6; 2011, c. 6, s. 91; 2021, c. 15, s. 62.

2011-06-06

10. A class “A” share or fractional share is redeemable by the Fund only in the following cases:

(1)  at the request of the person who acquired the share or fractional share from the Fund at least 730 days prior to redemption 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 the shareholder, who did not acquire the share or fractional share from the Fund, if the person who had acquired it from the Fund has reached 65 years of age or, if deceased, would have reached that age had he lived provided that, in either case, 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 the person on whom the share or fractional share has devolved by succession;

(3.1)  at the request of the 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 the person who acquired the share or fractional share from the Fund, if he applies to it therefor in writing within 60 days of subscribing the share or fractional share or, in the case provided for in section 26, within 60 days of the first deduction from his salary or wages;

(5)  at the request of the 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.

1983, c. 58, s. 10; 1989, c. 5, s. 6; 1989, c. 78, s. 4; 1997, c. 14, s. 6; 2011, c. 6, s. 91.

1997-05-22

10. A class “A” share or fractional share is redeemable by the Fund only in the following cases:

(1)  at the request of the person who acquired the share or fractional share from the Fund at least 730 days prior to redemption 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 the shareholder, who did not acquire the share or fractional share from the Fund, if the person who had acquired it from the Fund has reached 65 years of age or, if deceased, would have reached that age had he lived provided that, in either case, 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 the person on whom the share or fractional share has devolved by succession;

(4)  at the request of the person who acquired the share or fractional share from the Fund, if he applies to it therefor in writing within 60 days of subscribing the share or fractional share or, in the case provided for in section 26, within 60 days of the first deduction from his salary or wages;

(5)  at the request of the 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.

1983, c. 58, s. 10; 1989, c. 5, s. 6; 1989, c. 78, s. 4; 1997, c. 14, s. 6.

1989-06-22

10. A class “A” share or fractional share is redeemable by the Fund only in the following cases:

(1)  at the request of the person who acquired the share or fractional share from the Fund at least 730 days prior to redemption 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 the shareholder, who did not acquire the share or fractional share from the Fund, if the person who had acquired it from the Fund has reached 65 years of age or, if deceased, would have reached that age had he lived provided that, in either case, 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 the person on whom the share or fractional share has devolved by succession;

(4)  at the request of the person who acquired the share or fractional share from the Fund, if he applies to it therefor in writing within 60 days of subscribing the share or fractional share or, in the case provided for in section 26, within 60 days of the first deduction from his salary or wages;

(5)  at the request of the 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.

Subparagraph 1 of the first paragraph applies to the redemption, after 6 April 1989, of shares or fractional shares issued after 1 March 1988.

Subparagraphs 2 and 3 of the first paragraph apply to the redemption, after 6 April 1989, of shares or fractional shares.

1983, c. 58, s. 10; 1989, c. 5, s. 6; 1989, c. 78, s. 4.

1989-04-06

10. A class “A” share is redeemable by the Fund only in the following cases:

(1)  at the request of the person who purchased the 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 shareholder who did not purchase the share from the Fund, if the person who had acquired it from the Fund has reached 65 years of age or, if deceased, would have reached that age had he lived provided that, in either case, the share was issued at least 730 days prior to the request;

(3)  at the request of the person on whom the share has devolved by succession;

(4)  at the request of a person who purchased it from the Fund, if he applies to it therefor in writing within 60 days of subscribing the share or, in the case of section 26, 60 days of the first deduction from his salary or wages;

(5)  at the request of a person who purchased the 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.

In the case provided for in section 9, the request contemplated in subparagraph 1 of the first paragraph may be made by the trustee.

1983, c. 58, s. 10; 1989, c. 5, s. 6.

1983-06-23

10. A class “A” share is redeemable by the Fund only in the following cases:

(1)  at the request of the person who purchased the share from the Fund 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 shareholder who did not purchase the share from the Fund, if the person who had acquired it from the Fund has reached 65 years of age or, if deceased, would have reached that age had he lived;

(3)  at the request of the person on whom the share has devolved by succession;

(4)  at the request of a person who purchased it from the Fund, if he applies to it therefor in writing within 60 days of subscribing the share or, in the case of section 26, 60 days of the first deduction from his salary or wages.

In the case provided for in section 9, the request contemplated in subparagraph 1 of the first paragraph may be made by the trustee.

1983, c. 58, s. 10.