39(1)An administrator may apply a solvency gain only to reduce the total of any new solvency deficiency, any remaining balance of any previous solvency deficiency or both.
39(2)An administrator who reduces a solvency deficiency under subsection (1)
(a)
may have the actuary re-amortize the remaining balance of the solvency deficiency over its existing amortization period or over a shorter period and special payments shall be required to be made over the re-amortization period, and
(b)
shall have the actuary recalculate the remaining special payments in respect of any actuarial loss, taking into account the results of the most recently performed going concern valuation and the reduced special payments for solvency deficiencies.
39(3)Subject to subsection (4), this section does not apply to an actuarial valuation report with a review date on or after December 31, 2019.
39(4)This section does not apply to an actuarial valuation report respecting a pension plan referred to in subsection 8.1(2), regardless of the review date of the actuarial valuation report.
39(1)An administrator may apply a solvency gain only to reduce the total of any new solvency deficiency, any remaining balance of any previous solvency deficiency or both.
39(2)An administrator who reduces a solvency deficiency under subsection (1)
(a)
may have the actuary re-amortize the remaining balance of the solvency deficiency over its existing amortization period or over a shorter period and special payments shall be required to be made over the re-amortization period, and
(b)
shall have the actuary recalculate the remaining special payments in respect of any actuarial loss, taking into account the results of the most recently performed going concern valuation and the reduced special payments for solvency deficiencies.