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St. John's, Newfoundland and Labrador, Canada

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Newfoundland and Labrador
Regulation 2015


NEWFOUNDLAND AND LABRADOR REGULATION 54/15

NEWFOUNDLAND AND LABRADOR
REGULATION 54/15

Pension Benefits Act Regulations (Amendment)
under the
Pension Benefits Act, 1997
(O.C. 2015-175)

(Filed August 25, 2015)

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, August 25, 2015.

Paula Burt
Deputy Clerk of the Executive Council

REGULATIONS

Analysis


        1.   S.42.6 Added
Town of Grand Falls-Windsor exemption


NLR 114/96
as amended

        1. The Pension Benefits Act Regulations are amended by adding immediately after section 42.5 the following:

Town of Grand Falls-Windsor exemption

   42.6 (1) The Defined Benefit Retirement Plan for Employees of the Town of Grand Falls-Windsor is exempt from the requirement of paragraph 12(3)(d) for the period of December 31, 2013 to December 31, 2016 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 Town of Grand Falls-Windsor to the fund.