Human Resources Legislative Update
Federal Budget Bill Receives Royal Assent
Date: July 13, 2010
On Monday, July 12, 2010, Bill C-9, the Jobs And Economic Growth Act, received Royal Assent.
As previously reported, Bill C-9 was introduced on March 29, 2010 and is omnibus legislation that amends various Acts to implement certain key measures outlined in the federal government’s 2010 Budget.
Amendments to the Pension Benefits Standards Act (“PBSA”) setting out new solvency funding rules for federally-registered defined benefit plans are now in force (associated regulations were released on June 25, 2010).