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Volume 55, No. 20

284/2012

The British Columbia Gazette,

Part II

October 9, 2012

B.C. Reg. 284/2012 , deposited September 26, 2012, pursuant to the PENSION BENEFITS STANDARDS ACT [section 74 (2)]. Order in Council 633/2012, approved and ordered September 25, 2012.

On the recommendation of the undersigned, the Lieutenant Governor, by and with the advice and consent of the Executive Council, orders that the Pension Benefits Standards Regulation, B.C. Reg. 433/93, is amended as set out in the attached Appendix.

— M. DE JONG, Minister of Finance ; N. LETNICK, Presiding Member of the Executive Council .

Appendix

Section 3 (15) (

b) and (

c) of the Pension Benefits Standards Regulation, B.C. Reg. 433/93, is repealed and the following substituted:

(

b) the employer as defined in

Schedule 1.2 to this regulation;

(

c) members and former members as defined in

Schedule 1.2 to this regulation.

Schedule 1.2 is amended

(

a) in the definition of " transfer " in

section 1 by striking out " in the amount of " and substituting " in an amount equal to ",

(

b) in

section 6 (b) (iv) by striking out " as contemplated by subparagraph (

i) or (iii) ",

(

c) in

section 6 (b) (

v) by striking out " before the employer may give effect to " and substituting " before the plan may give effect to ",

(

d) by repealing

section 6 (

c) and substituting the following:

(

c) a member, former member or a surviving spouse of a deceased former member who makes a special portability election includes in the election an acknowledgement in writing that the election is made as a full and final settlement of his or her benefits under a defined benefit provision of the plan; ,

(

e) in

section 7 (

c) by striking out " the transfer " and substituting " a transfer ",

(

f) in

section 7 (d) (iv) by striking out " that " in both places,

(

g) in

section 7 (d) (

v) by adding " of this

Schedule " after "

section 6 (b) (iv) ", and

(

h) in

section 7 (

e) by striking out " an election " and substituting " a special portability election ".

3 Form 7 of

Schedule 2 is repealed and the following substituted:

Form 7

(section 6 (b) (

v) and (

g) of

Schedule 1.2)

Spouse's or Former Spouse's Consent To a Reduction of Locked-in Pension Funds for a Special Portability Election under the Catalyst Paper Corporation Retirement Plan for Salaried Employees, with the Registration Number P085400-1 ("the Plan")

1 I ,.............................................................................................................., am the "spouse" or "former spouse" of (full name) ................................................................................., who is a member or former member of the Plan.

2 Being the member or former member's "spouse" means that (check one)

☐ I am married to the member or former member, and have not been living separate and apart from that person for the preceding 2 years.

☐ I have been living with the member or former member, in a marriage like relationship, for the preceding 2 years. [Note: This includes a marriage like relationship between persons of the same gender.]

3 Being the member or former member's "former spouse" means that

☐ I was previously the member or former member's spouse within the meaning of paragraph 2, and I am entitled to a benefit from the Plan that will be affected by a special portability election by the member or former member of the Plan.

☐ I am a person designated as a limited member of a local plan under

section 72 (1) of the Family Relations Act whose entitlement to a benefit from the Plan will be affected by a special portability election by the member or former member of the Plan.

4 I understand that my spouse or former spouse (the "member or former member") wishes to make a special portability election under the Plan in accordance with

Schedule 1.2 of the Pension Benefits Standards Regulation, and that my written consent is required to enable the member or former member to do so.

5 I understand that

(

a) the amount transferred in accordance with a special portability election and the corresponding contractual payments referred to in

section 6 (

d) of

Schedule 1.2 of the Pension Benefits Standards Regulation are less than the benefits promised under the terms of the Plan,

(

b) the amount transferred in accordance with a special portability election and the corresponding contractual payments referred to in

section 6 (

d) of

Schedule 1.2 of the Pension Benefits Standards Regulation are made as a full and final settlement of the member or former member's claims under a defined benefit provision of the Plan, and

(

c) if the member or former member is my spouse and wishes to make this transfer to a Life Income Fund, my written consent in Form 3 of

Schedule 2 of the Pension Benefits Standards Regulation is also required to enable the member or former member to do so.

6 Nevertheless, I consent to the special portability election, and certify that

(

a) I have read this form and understand it,

(

b) neither the member or former member nor anyone else has put any pressure on me to sign this form,

(

c) the member or former member is not present while I am signing this form,

(

d) I realize that

(

i) this form only gives a general description of the legal rights I have under the Pension Benefits Standards Act and the Pension Benefits Standards Regulation, and

(ii) if I wish to understand exactly what my legal rights are I must read the Pension Benefits Standards Act and Pension Benefits Standards Regulation, and/or seek legal advice, and

(

e) I realize that I am entitled to a copy of this consent form.

7 To consent to the special portability election, I sign this consent form at .............................................................[ city ],.......................................................[ province ], on .............................................................[ date ]

............................................................................

Signature of Spouse or Former Spouse

............................................................................

............................................................................

............................................................................

Address of Spouse or Former Spouse

(home telephone number): ................................................

(work telephone number): .................................................

STATEMENT OF WITNESS

I certify that

(

a) My full name is ............................................................................................

(

b) My address is ...............................................................................................

(

c) I witnessed this spouse or former spouse sign this consent in the absence of the member or former member.

............................................................. .................................[ date ] Signature of Witness

(home telephone number): ....................................

(work telephone number): .....................................

Comments and Instructions

This form must be completed where a member or former member is eligible and wishes to make a special portability election under the Catalyst Paper Corporation Retirement Plan for Salaried Employees, with the registration number P085400-1, in accordance with

Schedule 1.2 of the Pension Benefits Standards Regulation under the Pension Benefits Standards Act of British Columbia.

The form must be

• completed in its entirety,

• signed by the spouse or former spouse outside of the immediate presence of the member or former member and witnessed independently prior to the transfer, and

• filed with the Plan administrator.

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