R-15.1 - Supplemental Pension Plans Act

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199. If an employer that is a party to a multi-employer pension plan is bankrupt or becomes insolvent, within the meaning of the Bankruptcy and Insolvency Act (Revised Statutes of Canada, 1985, chapter B-3), the plan must be amended to allow for the withdrawal of the employer and, where applicable, for substitution of another employer. If the person authorized under the plan to make such an amendment fails to do so within 30 days after the pension committee is informed of the insolvency or bankruptcy, the pension committee shall proceed with the amendment.
1989, c. 38, s. 199; 1997, c. 43, s. 654; 2000, c. 41, s. 114.
199. On receipt of a notice of termination, the Régie may either confirm the decision of the employer or, if the circumstances so justify, decide that the plan is not terminated, change the total or partial character of the termination indicated in the notice, reduce or increase the number of members affected or fix a different termination date.
The Régie may also terminate a pension plan in whole or in part where an employer who has not transmitted a notice of termination fails to collect member contributions or to pay into the pension fund or to the insurer his employer contributions or the member contributions he has collected, or where there is a decrease in the number of active members.
However, before amending the notice of termination or terminating the plan in whole or in part, the Régie shall give the pension committee an opportunity to present observations.
1989, c. 38, s. 199; 1997, c. 43, s. 654.
199. On receipt of a notice of termination, the Régie may either confirm the decision of the employer or, if the circumstances so justify, decide that the plan is not terminated, change the total or partial character of the termination indicated in the notice, reduce or increase the number of members affected or fix a different termination date.
The Régie may also terminate a pension plan in whole or in part where an employer who has not transmitted a notice of termination fails to collect member contributions or to pay into the pension fund or to the insurer his employer contributions or the member contributions he has collected, or where there is a decrease in the number of active members.
However, before amending the notice of termination or terminating the plan in whole or in part, the Régie shall give the pension committee an opportunity to present its views.
1989, c. 38, s. 199.