O. Reg. 352/16: GENERAL
filed October 31, 2016 under Pension Benefits Act, R.S.O. 1990, c. P.8
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made under the
Pension Benefits Act
Made: October 26, 2016
Filed: October 31, 2016
Published on e-Laws: October 31, 2016
Printed in The Ontario Gazette: November 19, 2016
Amending Reg. 909 of R.R.O. 1990
(GENERAL)
1. Regulation 909 of the Revised Regulations of Ontario, 1990 is amended by adding the following section immediately before the heading to Part II:
Superintendent’s Power to Appoint Administrator
65.2 For the purposes of subsections 8 (1.1) and (1.2) of the Act, the following circumstances are prescribed as circumstances in which the Superintendent may appoint an administrator for a pension plan or act as administrator of a pension plan:
1. The pension plan is to be wound up in whole or in part and does not have an administrator.
2. The pension plan is to be wound up in whole or in part and has an administrator who fails to act.
3. As a result of an application under the Companies’ Creditors Arrangement Act (Canada), a court has made an order staying all proceedings taken against the employer who is required to make contributions under the pension plan.
4. A proposal, within the meaning of the Bankruptcy and Insolvency Act (Canada), has been filed with an official receiver under that Act with respect to the employer who is required to make contributions under the pension plan.
5. A receiver or receiver-manager has been appointed in respect of some or all of the property of the employer who is required to make contributions under the pension plan.
Commencement
2. This Regulation comes into force on the later of the day subsection 2 (2) of the Securing Pension Benefits Now and for the Future Act, 2010 comes into force and the day it is filed.