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St. John's, Newfoundland and Labrador, Canada

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Newfoundland and Labrador
Regulation 2013


NEWFOUNDLAND AND LABRADOR REGULATION 127/13

NEWFOUNDLAND AND LABRADOR
REGULATION 127/13

Pension Benefits Act Regulations (Amendment)
under the
Pension Benefits Act, 1997
(O.C. 2013-362)

(Filed December 10, 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, December 10, 2013.

Julia Mullaley
Clerk of the Executive Council

REGULATIONS

Analysis


        1.   S.42.4 Added
City of St. John's retirement benefit plan exemption

        2.   Commencement


NLR 114/96
as amended

        1. The Pension Benefits Act Regulations are amended by adding immediately after section 42.3 the following:

City of St. John's retirement benefit plan exemption

   42.4 (1) The Retirement Benefit Plan for the Employees of the City of St. John's is exempt from the requirement of paragraph 12(3)(d) for the period of December 31, 2012 to December 31, 2015 in respect of the solvency deficiency of the plan.

             (2)  Notwithstanding subsection (1), in the event of the termination of the plan, an amount that would have been payable under paragraph 12(3)(d) had the exemption not been given shall be paid by the City of St. John's to the fund.

Commencement

        2. These regulations are considered to have come into force on December 31, 2012.