R-15.1, r. 6 - Regulation respecting supplemental pension plans

Full text Where the pension committee becomes aware that a letter of credit provided to the committee no longer meets the standards of this Regulation, the committee must immediately inform the employer. The employer may, within 30 days of the notice, provide the pension committee with a new letter of credit or an amount equivalent to the amount of the letter. In such cases, the pension committee must agree to the cancellation of the non-complying letter of credit. In any other case, it must require payment thereof from the expiry of the 30-day period.
O.C. 1073-2009, s. 5.