First

Session, 47th General Assembly

Elizabeth II, 2012

BILL 51

AN ACT TO AMEND THE

PENSION BENEFITS ACT, 1997

Received and Read the First Time ...................................................................................................

Second Reading .................................................................................................................................

Committee ............................................................................................................................................

Third Reading .....................................................................................................................................

Royal Assent ......................................................................................................................................

HONOURABLE

NICK MCGRATH

Minister

of Service Newfoundland and Labrador

Ordered

to be printed by the Honourable House of Assembly

EXPLANATORY NOTES

This Bill would amend the Pension Benefits Act, 1997 to allow the minister, with the approval

of the Lieutenant-Governor in Council, to enter into an agreement governing multi-jurisdictional

pension plans where the agreement contains provisions that are not in the Act

or the legislation of another jurisdiction.

This Bill would also give the

agreement the force of law.

A BILL

AN ACT TO AMEND THE PENSION

BENEFITS ACT, 1997

Analysis

S.2 Amdt.

Definitions

Ss.8.1 to 8.7 Added

8.1 Existing agreement

8.2 Multilateral

agreement

8.3 Status of agreement

8.4 Administrator

8.5 Employer

8.6 Application

8.7 Publication

Be it enacted by the Lieutenant-Governor and

House of Assembly in Legislative Session convened, as follows:

SNL1996 cP-4.01

as amended

Section 2 of the Pension Benefits Act, 1997 is amended by adding immediately after

paragraph (

v) the following:

(v.1) "multi-jurisdictional pension plan"

means a pension plan that is subject to this Act and to the pension benefits

legislation of one or more designated provinces or of Canada ;

(v.2) "multilateral agreement" means an

agreement entered into under

section 8.2;

2. The Act is amended by adding immediately after

section 8 the following:

Existing

agreement

8.1 An

agreement entered into under

section 8 continues in force until it is

terminated according to its terms or until the minister and the other party to

the agreement become subject to a multilateral agreement.

Multilateral agreement

8.2

(1) The

minister may, subject to the approval of the Lieutenant-Governor in Council, enter

into a multilateral agreement respecting multi-jurisdictional pension plans with

the government of a designated province or of Canada, or with more than one of

them.

(2) A multilateral agreement may provide for

(

a) the application of this Act and the

regulations to multi-jurisdictional pension plans;

(

b) the application of the pension benefits

legislation of a designated province or of Canada to multi-jurisdictional

pension plans;

(

c) the application of the multilateral agreement

itself to multi-jurisdictional pension plans; and

(

d) the supervision and regulation of multi-jurisdictional

pension plans.

Status of

agreement

8.3

(1) A

multilateral agreement shall specify the date on which it comes into force and it

acquires the force of law in the province as of that date.

(2) In the event of an inconsistency between a

provision of a multilateral agreement and a provision of this Act or the

regulations the provision of the multilateral agreement prevails to the extent

of the inconsistency.

Administrator

8.4 The

administrator of a multi-jurisdictional pension plan shall comply with the requirements

in a multilateral agreement that apply with respect to the pension plan and

with requirements imposed under the authority of a multilateral agreement.

Employer

8.5 An

employer or person required to make contributions to a multi-jurisdictional

pension plan on the employer's behalf shall comply with the requirements in a multilateral

agreement that apply with respect to the pension plan and with requirements

imposed under the authority of a multilateral agreement.

Application

8.6 Sections

8.3, 8.4 and 8.5 do not apply to a multi-jurisdictional pension plan unless the

minister has entered into a multilateral agreement with a designated province

or Canada

to which the pension plan is subject.

Publication

8.7

(1) The

minister shall publish a multilateral agreement and an amendment to a multilateral

agreement in the Gazette as soon as

practicable after entering into a multilateral agreement or making the amendment.

(2) A multilateral agreement or an amendment to it

published under subsection (1) is not subordinate legislation for the purpose

of the Statutes and Subordinate Legislation

Act.

Queen's Printer