Acts and Regulations

91-195 - General

Section 42.2
Disposition versions

Full text
Notice and reply procedure for consent
42.2(1)The administrator of the pension plan shall send a notice in the form provided by the Superintendent by mail to
(a) each member,
(b) each former member, and
(c) any other person entitled to payments under the plan.
42.2(2)The notice shall include
(a) an explanation of the exemption from making contributions to the pension fund in respect of solvency deficiency, and
(b) a request for the consent of the person to the exemption.
42.2(3)A reply form in the form provided by the Superintendent and a uniquely numbered, postage-paid return envelope shall be included with the notice.
42.2(4)The administrator of the pension plan shall keep confidential a list that matches the name and address of each person to which the notice referred to in subsection (1) is sent, to the unique number of the postage-paid return envelope included with the notice, but shall use the information only to provide replacement reply forms, on request, and not to identify the responses in the reply forms referred to in subsection (3) with the name or address of a person.
42.2(5)Forty-five days after the date of mailing of the notice shall be allowed for reply forms to be returned.
42.2(6)Forty-six days after the date of mailing of the notice, the administrator of the pension plan shall
(a) record the identification numbers of the postage-paid return envelopes that have been received,
(b) separate the envelopes from the reply forms, and
(c) count the responses on the reply forms.
42.2(7)If an affirmative response is received from at least fifty-one per cent of those who reply, the administrator of the pension plan, within thirty days after the responses are counted, shall submit to the Superintendent for recording and acknowledgement the following documents:
(a) an actuarial valuation report with a review date within nine months before the date on which the documents are submitted under this section;
(b) a copy of the notice referred to in subsection (1) sent under this section;
(c) a certificate of the administrator of the pension plan certifying that
(i) notice has been given and replies have been counted in the manner required by this section, and
(ii) the percentage of affirmative responses complies with this subsection.
2005-156; 2006-77; 2015-59
Notice and reply procedure for consent
42.2(1)The administrator of the pension plan shall send a notice in Form 7 by mail to
(a) each member,
(b) each former member, and
(c) any other person entitled to payments under the plan.
42.2(2)The notice shall include
(a) an explanation of the exemption from making contributions to the pension fund in respect of solvency deficiency, and
(b) a request for the consent of the person to the exemption.
42.2(3)A reply form in Form 8 and a uniquely numbered, postage-paid return envelope shall be included with the notice.
42.2(4)The administrator of the pension plan shall keep confidential a list that matches the name and address of each person to which the notice in Form 7 is sent to the unique number of the postage-paid return envelope included with the notice, but shall use the information only to provide replacement reply forms, on request, and not to identify responses on Form 8 with the name or address of the person.
42.2(5)Forty-five days after the date of mailing of the notice shall be allowed for reply forms to be returned.
42.2(6)Forty-six days after the date of mailing of the notice, the administrator of the pension plan shall
(a) record the identification numbers of the postage-paid return envelopes that have been received,
(b) separate the envelopes from the reply forms, and
(c) count the responses on the reply forms.
42.2(7)If an affirmative response is received from at least fifty-one per cent of those who reply, the administrator of the pension plan, within thirty days after the responses are counted, shall submit to the Superintendent for recording and acknowledgement the following documents:
(a) an actuarial valuation report with a review date within nine months before the date on which the documents are submitted under this section;
(b) a copy of the notice in Form 7 sent under this section;
(c) a certificate of the administrator of the pension plan certifying that
(i) notice has been given and replies have been counted in the manner required by this section, and
(ii) the percentage of affirmative responses complies with this subsection.
2005-156; 2006-77