ontario regulation 328/16

made under the

Financial Administration Act

Made: September 28, 2016
Approved: September 28, 2016
Filed: September 30, 2016
Published on e-Laws: October 3, 2016
Printed in The Ontario Gazette: October 15, 2016

Amending O. Reg. 395/11

(ACCOUNTING POLICIES AND PRACTICES)

1. Ontario Regulation 395/11 is amended by adding the following section:

Accounting policies and practices

3. (1) The consolidated financial statements of the Province set out in the Public Accounts for the fiscal year ending March 31, 2016 shall be prepared in accordance with the following rules:

1. In determining a valuation allowance for a jointly sponsored pension plan with a surplus calculated for accounting purposes, the Province shall assume an expected future benefit of zero.

2. The rule in paragraph 1 shall be reflected in all related asset, revenue, liability, expense and accumulated deficit balances as if it had been implemented effective April 1, 2015.

(2) In subsection (1),

“jointly sponsored pension plan” has the same meaning as in the Pension Benefits Act.

Commencement

2. This Regulation comes into force on the day it is filed.

Made by:
Pris par :

Treasury Board:
Le Conseil du Trésor :

Liz sandals

President of the Treasury Board

Greg Orencsak

Secretary, Treasury Board/Management Board of Cabinet

Date made:September 28, 2016
Pris le : 28 septembre 2016