Pooled Registered Pension Plans Act, 2013 Munro, Julia — Bill 50 (40th Parliament, 2nd Session)

Bill 50, 40-2

Ontario — Bills

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Bill 50, Pooled Registered Pension Plans Act, 2013

Munro, Julia

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Status

Debates

Original

[40] Bill 50 Original (PDF)

Bill 50 2013

Act to require the introduction of legislation to allow for pooled registered

pension plans

Her

Majesty, by and with the advice and consent of the Legislative Assembly of the Province of Ontario, enacts as follows:

Requirement

for Government bill

(1) The

Minister of Finance shall prepare and introduce in the Assembly a bill no later

than,

(a) 180

days after this Act receives Royal Assent, if the Assembly is in session on

that 180th day; or

(

b) the

first day on which the Assembly is in session after the 180th day described in

clause (a), if the Assembly is not in session on that 180th day.

Consultation

(2) In preparing the bill, the Minister of Finance shall

consult with groups representing employers, employees and the financial services

industry.

Contents

of bill

(3) The bill shall provide as follows:

1. The

bill shall provide a legal framework for pooled registered pension plans, which

is similar to the framework provided by the Pooled

Registered Pension Plans Act (Canada), for Ontario residents in respect

of whom that Act does not apply.

2. A

pooled registered pension plan mentioned in paragraph 1 shall be a defined

contribution pension plan.

3. The

bill shall provide for all transitional matters necessary for the effective implementation

of the bill and for that purpose may allow the Lieutenant Governor in Council

to make regulations.

4. The

bill shall come into force on January 1 of the year that commences at least six

months after the bill receives Royal Assent.

Commencement

2. This

Act comes into force on the day it receives Royal Assent.

Short

title

3. The

short title of this Act is the Pooled Registered Pension

Plans Act, 2013 .

EXPLANATORY

NOTE

The

Bill requires the Minister of Finance to introduce a bill in the Assembly to

allow for pooled registered pension plans.

Date Bill stage Activity Committee

April 25, 2013

Ordered referred to Standing Committee

Standing Committee on the Legislative Assembly

April 25, 2013

Second Reading

Carried on division

April 25, 2013

Second Reading

Debate

April 10, 2013

First Reading

Carried

Debates and Progress

First Reading

April 10, 2013

Committee

Second Reading

April 25, 2013

Mrs. Julia Munro, Mr. Gilles Bisson, Hon. Glen R. Murray, Mr. Todd Smith, Mr. Rosario Marchese, Mr. Bob Delaney, Mr. John O’Toole, Mr. Jack MacLaren, Mr. Rick Nicholls

April 25, 2013

April 25, 2013

Carried on recorded division. Referred to the Standing Committee on Legislative Assembly.

Committee

Standing Committee on Legislative Assembly

Third Reading

Royal Assent

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Document details

Collection	Ontario — Bills
Citation	Bill 50, 40-2
Type	bill
Volume / chapter	p40 s2 bill 50 html
Language	en
Format	html
Source	PROVINCIAL
Identifier	42b49f3fefca4dfe52978728390a0dd5be49386b

Source file is stored in the law ingest library (html).