Finance committee  If there were a serious contravention, the superintendent could issue a direction that they take certain actions to remedy the non-compliance. Proposed section 66 then would be used to do a quick enforcement, as it would only require the filing of the direction with the Federal

Finance committee  What's really key is the class of employees. If you're considered in the same class of employee and a PRPP is available to members of that class, you're entitled to also become a member. So you become a member of a PRPP. The hours are essentially not that relevant, if the PRPP is

Finance committee  If there is a situation in which members are at risk, likely this wouldn't be the route that the superintendent would take; rather, he would replace the administrator and transfer all the assets out of their control. The use of this power is very severe, because the revocation

Finance committee  Could I ask you to repeat the question?

Finance committee  The superintendent has a mandate to ensure that the act is being complied with. This is another tool that the superintendent may use to ensure that the act is being complied with. The superintendent also has authority to require administrators to produce information and to examin

Finance committee  I'm Carol Taraschuk. I'm with the legal services with the Office of the Superintendent of Financial Institutions.

Finance committee  Thank you. There's a similar provision in the Pension Benefits Standards Act. What it does is recognize that there are different jurisdictions respecting pension plans, and there will be respecting PRPPs. There will be provincial legislation, we hope, that will address situatio

Finance committee  Yes, I can answer that question.

Finance committee  It's similar to the provisions in the Pension Benefits Standards Act. Clause 21 allows the superintendent to act quickly and name a replacement. They're not subject to the 15-day waiting period. The 15-day waiting period deals with directions of compliance. For example, if an e