On July 2, 2013, the Ontario government posted a draft regulation made under the Pension Benefits Act (“Act”) regarding pension transfers under sections 80 and 81 of the Act. A summary of the draft regulation has also been posted. Approval of the draft regulation is required before the amendments to sections 80 and 81 of…
Industry: Financial Services
Time Period for Filing Solvency Funding Relief Reports Extended
On June 20, 2013, the Ontario government filed O. Reg. 186/13 amending O. Reg. 177/11 (as amended by O. Reg. 330/12) which amended Regulation 909 (General) made under the Pension Benefits Act. As previously reported, the definition of “solvency concerns” sets out the circumstances under which defined benefit pension plans are required to file annual actuarial…
PBA Regulatory Amendment Will Change Locked-In Retirement Fund Withdrawal Process
On June 20, 2013, the Ontario government filed O. Reg. 185/13 amending Regulation 909 (General) made under the Pension Benefits Act. As announced by the government, this amendment to Regulation 909 will permit individuals to apply to their financial institutions for financial hardship withdrawals of their locked-in retirement funds, rather than to the Superintendent of…
Access to Information Act/Privacy Act Regulatory Amendments Update Schedules of Designated Investigative Bodies
On May 31, 2013, the federal government registered Regulations Amending the Access to Information Regulations made under the Access to Information Act. These Regulations amend Schedule I (Investigative Bodies) of the Access to Information Regulations to delete the names of investigative bodies that are no longer in existence and to replace the name of one…
House of Commons Adjourns until September 16, 2013
On Wednesday June 19, 2013, the federal House of Commons adjourned until Monday September 16, 2013 at 11:00 a.m.
New Federal Regulations Proposed for Health and Safety Committees/Representatives
On June 8, 2013, the federal government published proposed Policy Committees, Work Place Committees and Health and Safety Representatives Regulations (“Regulations”) made under the Canada Labour Code (“Code”). The proposed Regulations would replace the Safety and Health Committees and Representatives Regulations (“SHCRR”) to align the Regulations with amendments made to the Code in 2000, which…
Ontario Budget Bill Passes Third Reading, Legislature Adjourns
On June 11, 2013, Bill 65, Prosperous and Fair Ontario Act (Budget Measures), 2013 passed Third Reading on recorded division. As previously reported, Bill 65 is legislation which will give effect to certain initiatives contained in the Ontario Budget 2013. On the same date, the Ontario Legislature adjourned until September 9, 2013. Note: On June…
Ontario Budget Bill Referred to Committee
On June 5, 2013, Bill 65, Prosperous and Fair Ontario Act (Budget Measures), 2013, carried on recorded division at Second Reading and was ordered referred to the Standing Committee on Finance and Economic Affairs. As previously reported, Bill 65 is legislation which, if passed, will give effect to certain initiatives contained in the Ontario Budget…
Provisions of Helping Families in Need Act Proclaimed Into Force
The federal government has fixed June 9, 2013 as the day subsection 2(1) and sections 5, 13, 14, 17 to 20 and 22 to 25 of the Helping Families in Need Act come into force. These sections amend the Canada Labour Code to provide an unpaid leave to an eligible federally regulated employee whose child…
Alberta Passes PRPP Legislation
On May 7, 2013, Bill 18, Pooled Registered Pension Plans Act,passed Third Reading in the Legislative Assembly of Alberta and received Royal Assent on May 27, 2013. Bill 18 authorizes pooled registered pension plans (“PRPPs”) to be made available to eligible employees and self-employed persons in Alberta and sets out the legal framework for the…