Acts and Regulations

P-5.1 - Pension Benefits Act

Section 78.12
Disposition versions

Full text
Compliance review
78.12(1)The Financial and Consumer Services Commission may appoint in writing a person as a compliance officer for the purpose of ensuring compliance with this Act and the regulations.
78.12(2)The Financial and Consumer Services Commission shall issue to every compliance officer a certificate of appointment and every compliance officer, in the execution of his or her duties under this Act or the regulations, shall produce his or her certificate of appointment on request.
78.12(3)For the purpose of determining whether this Act and the regulations are being complied with, the Superintendent or a compliance officer, in carrying out a compliance review, may
(a) enter, during normal business hours, any business premises where the Superintendent or compliance officer has reasonable grounds to believe that books, records, documents or things are kept that relate to a pension plan, a pension fund or a retirement savings arrangement prescribed for the purposes of subparagraph 36(1)(a)(ii) or paragraph 99.1(2)(b),
(b) make any inspections, examinations, audits or inquiries and may require the production of any book, record, document or thing related to a pension plan, a pension fund or a retirement savings arrangement prescribed for the purposes of subparagraph 36(1)(a)(ii) or paragraph 99.1(2)(b),
(c) make, take and remove or require the making, taking and removal of copies or extracts related to an inspection, examination, audit or inquiry in relation to a pension plan, a pension fund or a retirement savings arrangement prescribed for the purposes of subparagraph 36(1)(a)(ii) or paragraph 99.1(2)(b), and
(d) on giving a receipt, remove any books, records, documents or things related to the subject matter of an inspection, examination, audit or inquiry for the purpose of making copies, but the copying shall be carried out as soon as possible and the books, records, documents and things shall be returned immediately after the copying is completed.
78.12(4)In carrying out a compliance review, the Superintendent or a compliance officer may
(a) use a data processing system at the business premises,
(b) reproduce any book, record or document, and
(c) use any copying equipment at the business premises to make copies of any book, record or document.
78.12(5)The Superintendent or a compliance officer may carry out a compliance review within or outside the Province.
78.12(6)The Superintendent or a compliance officer shall not enter a private dwelling under subsection (3) unless the compliance officer or Superintendent has the consent of the occupier or has obtained an entry warrant under the Entry Warrants Act.
78.12(7)Before or after attempting to enter or to have access to any business premises, the Superintendent or a compliance officer may apply for an entry warrant under the Entry Warrants Act.
78.12(8)The Financial and Consumer Services Commission may, in prescribed circumstances, require a person in respect of whom a compliance review was carried out to pay the Financial and Consumer Services Commission any prescribed fee and to reimburse the Financial and Consumer Services Commission for any prescribed expenses.
2016, c.36, s.11