29.12(1)The Crown in right of the Province, a minister of the Crown, a person designated to act on behalf of a minister, the Financial and Consumer Services Commission, the Superintendent of Pensions or an administrator or any of their officers, directors, employees or members is not liable under this Act, the regulations, the Pension Benefits Act or the regulations under that Act if the minister, person designated to act on behalf of a minister, Financial and Consumer Services Commission, Superintendent of Pensions or administrator or any of their officers, directors, employees or members exercised the care, diligence and skill that a reasonably prudent person would have exercised in comparable circumstances, including reliance in good faith on a report of a person whose profession lends credibility to a statement made by that person.

29.12(2)Despite any other provision of this Act, the regulations under this Act, section 12 of the Pension Benefits Act and any contract or trust, including a document that creates or supports a pension plan or pension fund, no cause of action, claim or demand arises and no action for damages or other proceeding shall be instituted against the Crown in right of the Province, a minister of the Crown, a person designated to act on behalf of a minister, the Financial and Consumer Services Commission, the Superintendent of Pensions, an administrator, a trustee, a board of trustees, an employer, a trade union that represents its members, an employee organization that is the bargaining agent of its members or any other person, board or committee with the right to amend a pension plan or any of their officers, directors, employees, members, agents or advisers in relation to any of the following: