23. Section 146.1 of the Act mentioned in paragraph 3 of section 2 is replaced by the following:
“146.1. The surplus assets of a pension plan to which Chapter X applies may only be appropriated to the payment of the value of the additional obligations arising from an amendment to the plan if, without reference to the value of those obligations, the actuarial valuation of the plan determines that there are surplus assets and if either of the following conditions is met:
(1) the value of the obligations is entirely paid by appropriation of the surplus assets;
(2) the maximum amount of surplus assets that may be appropriated for paying that value is entirely devoted to that end.
The maximum amount of surplus assets that may be so appropriated is determined in the valuation referred to in the first paragraph.
In the case of a complete actuarial valuation, that amount must be equal,
(1) on a solvency basis, to the amount by which the plan’s assets exceed its liabilities, the latter being reduced by the value of the additional obligations arising from any amendment to the plan considered for the first time in the valuation;
(2) on a funding basis, to the amount by which the plan’s general account exceeds its liabilities, the latter being reduced by the value of the additional obligations arising from any amendment to the plan considered for the first time in the valuation.
In the case of a partial actuarial valuation, that amount corresponds to the amount given by the actuary who certifies that, if a complete actuarial valuation taking into account the transfer provided for in the first paragraph of section 13 or the first paragraph of section 15 of the Regulation respecting the funding of pension plans of the municipal and university sectors (chapter R-15.1, r. 2) was carried out at the valuation date, it would allow the establishment, in accordance with the third paragraph, of amounts at least equal to the amounts given.”.