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 11.2 Disposition versions

2011-06-06

11.2. If a request for redemption is made, under paragraph 1 of section 11, by a person who has not reached 60 years of age and the request is based on the grounds that the person has entered into an agreement with his employer to reduce his regular working time by 20% or more until retirement, the amount to be redeemed may not exceed, for a year, the lesser of

(1)  the salary reduction incurred by the person for the year; and

(2)  the quotient obtained by dividing the balance of the person’s share or fractional share account at the time of his first request for redemption on those grounds by the number of years, not exceeding 11, that the agreement is to cover.

2011, c. 6, s. 87.