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Newfoundland and Labrador
Regulation 2013


NEWFOUNDLAND AND LABRADOR REGULATION 29/13

NEWFOUNDLAND AND LABRADOR
REGULATION 29/13

Pension Benefits Act Regulations (Amendment)
under the
Pension Benefits Act, 1997
(O.C. 2013-039)

(Filed March 5, 2013)

Under the authority of section 78 of the Pension Benefits Act, 1997, the Lieutenant-Governor in Council makes the following regulations.

Dated at St. John’s, February 26, 2013.

Robert Thompson
Clerk of the Executive Council

REGULATIONS

Analysis


        1.   S.2 Amdt.
Interpretation

        2.   S.38.1 Added
Interpretation of investment regulations

        3.   S.39 Amdt.
Investment regulations

        4.   Sch. Rep.


NLR 114/96
as amended

        1. Paragraphs 2(1)(f), (r) and (u) of the Pension Benefits Act Regulations are repealed.

 

        2. The regulations are amended by adding immediately after section 38 the following:

Interpretation of investment regulations

   38.1 (1) In this section and section 39,

             (a)  "federal regulations" means the Pension Benefits Standards Regulations, 1985 (Canada); and

             (b)  "Schedule III" means Schedule III to the federal regulations.

             (2)  In interpreting Schedule III for the purpose of section 39, expressions used in Schedule III and defined in the Pension Benefits Standards Act, 1985 (Canada) or the federal regulations have the meanings assigned to them by that federal Act or those federal regulations, as the case may be, except for the references in subsection (3).

             (3)  A reference in Schedule III to

             (a)  “administrator” shall be read as a reference to “administrator” as defined in the Act;

             (b)  “employee” shall be read as a reference to “employee” as defined in the Act;

             (c)  “employer” shall be read as a reference to “employer” as defined in the Act;

             (d)  “insured plan” shall be read as a reference to “insured plan” as defined in these regulations;

             (e)  “member” shall be read as a reference to “member” as defined in the Act;

              (f)  “pension benefit” shall be read as a reference to “pension benefit” as defined in the Act;

             (g)  “plan” shall be read as a reference to “pension plan” as defined in the Act;

             (h)  “spouse or common-law partner” shall be read as a reference to “principal beneficiary” as defined in the Act; and

              (i)  “superintendent” shall be read as a reference to “superintendent” as defined in the Act.

             (4)  The references to "1994" in subparagraphs 12(1)(a)(ii), 13(1)(a)(ii) and 14(a)(ii) of Schedule III shall be read as "1996".

             (5)  The references to "filed under subsection 12(2) of the Act" in subsections 12(3) and 13(3) of Schedule III shall be read as "filed with the superintendent".

 

        3. Section 39 is amended by replacing the words "the Schedule" wherever they appear with the word and number "Schedule III".

 

        4. The Schedule to the regulations is repealed.