R-15.1 - Supplemental Pension Plans Act

Section 311.3 Disposition versions

2001-01-01

311.3. (Repealed).

1992, c. 60, s. 56; 2000, c. 41, s. 198.

1993-01-01

311.3. In addition to the provisions in this respect of paragraphs 1 and 2 of section 230.1, the allocation of surplus assets in a pension plan which has been totally terminated may also, before 1 July 1994, be subject to an arbitration award rendered pursuant to Chapter XIV.1, in the following conditions:

(1)  the interested parties have, before 1 July 1994, agreed to have recourse to arbitration in order to determine who is entitled to the surplus assets and what share of that surplus is due to them. In such a case, the application for arbitration must be introduced before the above date by a statement sent to the pension committee which evidences the agreement;

(2)  the application for arbitration must contemplate all the surplus assets and all the members and beneficiaries of the plan.

For the purposes of subparagraph 1 of the first paragraph, the members and beneficiaries are deemed to have agreed to arbitration if, after having been informed by public notice of the agreement of the employer, less than 30 % of them have opposed it. The public notice shall be published in accordance with the modalities prescribed by section 204, which applies with the necessary modifications; the notice shall state the agreement of the employer to the recourse to arbitration and the object of the recourse, and shall invite any person concerned who is opposed to arbitration to notify the pension committee of his opposition within 30 days. The application for arbitration shall, in such a case, be introduced by a statement of the pension committee evidencing the agreement of the employer, the publication of the above notice and the fact that less than 30 % of those concerned have filed their opposition to arbitration. If the pension plan is not, within the meaning of section 318, administered by a pension committee established as precribed by section 147, the above notice must indicate that those concerned must notify the Régie of their opposition.

1992, c. 60, s. 56.