Acts and Regulations

P-5.1 - Pension Benefits Act

Section 72
Disposition versions

Full text
Orders by Superintendent
72(1)The Superintendent, in the circumstances mentioned in subsection (2), by a written order may require an administrator, or any other person whom the Superintendent considers appropriate in the circumstances, to take or to refrain from taking any action in respect of a pension plan, a pension fund or a retirement savings arrangement prescribed for the purposes of subparagraph 36(1)(a)(ii).
72(2)The Superintendent may make an order under this section if the Superintendent is of the opinion, upon reasonable and probable grounds,
(a) that the pension plan, pension fund or prescribed retirement savings arrangement is not being administered in accordance with this Act, the regulations or the pension plan,
(b) that the pension plan or prescribed retirement savings arrangement does not comply with this Act and the regulations,
(c) that the administrator of the pension plan, the employer or any other person is violating a provision of this Act or the regulations,
(c.1) that the administrator of the pension plan, the employer or any other person is violating a provision of the multilateral agreement entered into under section 93.3, in the case of a pension plan that is subject to that agreement,
(d) that the assumptions or methods used in the preparation of a report required under this Act or the regulations in respect of a pension plan are inappropriate for a pension plan,
(e) that the assumptions or methods used in the preparation of a report required under this Act or the regulations in respect of a pension plan do not accord with generally accepted actuarial principles,
(f) that a report submitted in respect of a pension plan does not meet the requirements and qualifications of this Act, the regulations or the pension plan,
(g) that a report or form submitted in respect of a prescribed retirement savings arrangement does not meet the requirements and qualifications of this Act, the regulations or the prescribed retirement savings arrangement, or
(h) that there are or are likely to be insufficient funds available to pay the pensions and benefits under the plan.
72(3)In an order under this section, the Superintendent may specify the time or times when or the period or periods of time within which the person to whom the order is directed must comply with the order.
72(4)An order under paragraph (2)(d), (e) or (f) may include, but is not limited to, requiring the preparation of a new report and specifying the assumptions or methods or both that shall be used in the preparation of the new report.
72(5)An order under this section is not effective unless the reasons for the order are set out in the order.
72(6)In an order made under paragraph (2)(c), the Superintendent shall specify the provision of this Act or the regulations that, in the Superintendent’s opinion, has not been complied with.
72(7)In an order made under paragraph (2)(c.1), the Superintendent shall specify the provision of the multilateral agreement that, in the Superintendent’s opinion, has not been complied with.
2002, c.12, s.29; 2007, c.51, s.3; 2011, c.33, s.1
Orders by Superintendent
72(1)The Superintendent, in the circumstances mentioned in subsection (2), by a written order may require an administrator, or any other person whom the Superintendent considers appropriate in the circumstances, to take or to refrain from taking any action in respect of a pension plan, a pension fund or a retirement savings arrangement prescribed for the purposes of subparagraph 36(1)(a)(ii).
72(2)The Superintendent may make an order under this section if the Superintendent is of the opinion, upon reasonable and probable grounds,
(a) that the pension plan, pension fund or prescribed retirement savings arrangement is not being administered in accordance with this Act, the regulations or the pension plan,
(b) that the pension plan or prescribed retirement savings arrangement does not comply with this Act and the regulations,
(c) that the administrator of the pension plan, the employer or any other person is violating a provision of this Act or the regulations,
(c.1) that the administrator of the pension plan, the employer or any other person is violating a provision of the multilateral agreement entered into under section 93.3, in the case of a pension plan that is subject to that agreement,
(d) that the assumptions or methods used in the preparation of a report required under this Act or the regulations in respect of a pension plan are inappropriate for a pension plan,
(e) that the assumptions or methods used in the preparation of a report required under this Act or the regulations in respect of a pension plan do not accord with generally accepted actuarial principles,
(f) that a report submitted in respect of a pension plan does not meet the requirements and qualifications of this Act, the regulations or the pension plan,
(g) that a report or form submitted in respect of a prescribed retirement savings arrangement does not meet the requirements and qualifications of this Act, the regulations or the prescribed retirement savings arrangement, or
(h) that there are or are likely to be insufficient funds available to pay the pensions and benefits under the plan.
72(3)In an order under this section, the Superintendent may specify the time or times when or the period or periods of time within which the person to whom the order is directed must comply with the order.
72(4)An order under paragraph (2)(d), (e) or (f) may include, but is not limited to, requiring the preparation of a new report and specifying the assumptions or methods or both that shall be used in the preparation of the new report.
72(5)An order under this section is not effective unless the reasons for the order are set out in the order.
72(6)In an order made under paragraph (2)(c), the Superintendent shall specify the provision of this Act or the regulations that, in the Superintendent’s opinion, has not been complied with.
72(7)In an order made under paragraph (2)(c.1), the Superintendent shall specify the provision of the multilateral agreement that, in the Superintendent’s opinion, has not been complied with.
2002, c.12, s.29; 2007, c.51, s.3; 2011, c.33, s.1
Orders by Superintendent
72(1)The Superintendent, in the circumstances mentioned in subsection (2), by a written order may require an administrator, or any other person whom the Superintendent considers appropriate in the circumstances, to take or to refrain from taking any action in respect of a pension plan, a pension fund or a retirement savings arrangement prescribed for the purposes of subparagraph 36(1)(a)(ii).
72(2)The Superintendent may make an order under this section if the Superintendent is of the opinion, upon reasonable and probable grounds,
(a) that the pension plan, pension fund or prescribed retirement savings arrangement is not being administered in accordance with this Act, the regulations or the pension plan,
(b) that the pension plan or prescribed retirement savings arrangement does not comply with this Act and the regulations,
(c) that the administrator of the pension plan, the employer or any other person is violating a provision of this Act or the regulations,
(d) that the assumptions or methods used in the preparation of a report required under this Act or the regulations in respect of a pension plan are inappropriate for a pension plan,
(e) that the assumptions or methods used in the preparation of a report required under this Act or the regulations in respect of a pension plan do not accord with generally accepted actuarial principles,
(f) that a report submitted in respect of a pension plan does not meet the requirements and qualifications of this Act, the regulations or the pension plan,
(g) that a report or form submitted in respect of a prescribed retirement savings arrangement does not meet the requirements and qualifications of this Act, the regulations or the prescribed retirement savings arrangement, or
(h) that there are or are likely to be insufficient funds available to pay the pensions and benefits under the plan.
72(3)In an order under this section, the Superintendent may specify the time or times when or the period or periods of time within which the person to whom the order is directed must comply with the order.
72(4)An order under paragraph (2)(d), (e) or (f) may include, but is not limited to, requiring the preparation of a new report and specifying the assumptions or methods or both that shall be used in the preparation of the new report.
72(5)An order under this section is not effective unless the reasons for the order are set out in the order.
72(6)In an order made under paragraph (2)(c), the Superintendent shall specify the provision of this Act or the regulations that, in the Superintendent’s opinion, has not been complied with.
2002, c.12, s.29; 2007, c.51, s.3
Orders by Superintendent
72(1)The Superintendent, in the circumstances mentioned in subsection (2), by a written order may require an administrator, or any other person whom the Superintendent considers appropriate in the circumstances, to take or to refrain from taking any action in respect of a pension plan, a pension fund or a retirement savings arrangement prescribed for the purposes of subparagraph 36(1)(a)(ii).
72(2)The Superintendent may make an order under this section if the Superintendent is of the opinion, upon reasonable and probable grounds,
(a) that the pension plan, pension fund or prescribed retirement savings arrangement is not being administered in accordance with this Act, the regulations or the pension plan,
(b) that the pension plan or prescribed retirement savings arrangement does not comply with this Act and the regulations,
(c) that the administrator of the pension plan, the employer or any other person is violating a provision of this Act or the regulations,
(d) that the assumptions or methods used in the preparation of a report required under this Act or the regulations in respect of a pension plan are inappropriate for a pension plan,
(e) that the assumptions or methods used in the preparation of a report required under this Act or the regulations in respect of a pension plan do not accord with generally accepted actuarial principles, or
(f) that a report submitted in respect of a pension plan does not meet the requirements and qualifications of this Act, the regulations or the pension plan, or
(g) that a report or form submitted in respect of a prescribed retirement savings arrangement does not meet the requirements and qualifications of this Act, the regulations or the prescribed retirement savings arrangement.
72(3)In an order under this section, the Superintendent may specify the time or times when or the period or periods of time within which the person to whom the order is directed must comply with the order.
72(4)An order under paragraph (2)(d), (e) or (f) may include, but is not limited to, requiring the preparation of a new report and specifying the assumptions or methods or both that shall be used in the preparation of the new report.
72(5)An order under this section is not effective unless the reasons for the order are set out in the order.
72(6)In an order made under paragraph (2)(c), the Superintendent shall specify the provision of this Act or the regulations that, in the Superintendent’s opinion, has not been complied with.
2002, c.12, s.29