Clause 24 reads:…an administrator must not give, offer or agree to give or offer to an employer an inducement to enter into a contract with the administrator in respect of a pooled registered pension plan.
This is the anti-corruption clause. Basically we need to ensure that the employer, who is obligated to accept this plan, will not be tempted, based on a lateral commercial agreement that does not affect employees, to lock them into an agreement they are not participating in.
I'll give you a very simple example. An employer does business with a bank. The bank suggests to the employer that it will increase the employer's line of credit by $50,000 if the employer gives the bank the contract for the employees' voluntary pension plan. Obviously, the employees will gain nothing from this deal the bank is offering. It involves only the bank and the employer.
The clause 24 amendment is there just to strengthen the existing anti-corruption clause.