• (5) For the purpose of paragraph (f) of the definition “term preferred share” in subsection 248(1) of the Act, a share of a class of the capital stock of a corporation that is listed on a designated stock exchange in Canada is a prescribed share at any particular time with respect to another corporation that is registered or licensed under the laws of a province to trade in securities and that holds the share for the purpose of sale in the course of the business ordinarily carried on by it unless

• (5.1) For the purpose of the definition “taxable RFI share” in subsection 248(1) of the Act, a share of a class of the capital stock of a corporation that is listed on a designated stock exchange in Canada is a prescribed share at any particular time with respect to another corporation that is registered or licensed under the laws of a province to trade in securities and that holds the share for the purpose of sale in the course of the business ordinarily carried on by it unless

• (a) the Yukon Territory, the Northwest Territories or Nunavut;

• (iii) north of 55°13′N latitude and east of 123°16′W longitude;

7310. For the purpose of the definition “eligible apprentice” in subsection 127(9) of the Act, a prescribed trade in respect of a province means, at all times in a taxation year, a trade that is, at any time in that taxation year, a Red Seal trade for the province under the Interprovincial Standards Red Seal Program.

• (C) the plan is not a designated plan,

• (iv) the plan is not a designated plan,

“designated plan”

“designated plan” has the meaning assigned by section 8515; (régime désigné)

• (2) All words and expressions used in this Part that are defined in subsection 147.1(1) of the Act or in Part LXXXIII have the meanings assigned in those provisions.

Eligible Service

• (a) the only lifetime retirement benefits provided under the provision to a member (other than additional lifetime retirement benefits provided to a member because the member is totally and permanently disabled at the time the member’s retirement benefits commence to be paid) are lifetime retirement benefits provided in respect of one or more of the following periods (other than the portion of a period that is after the calendar year in which the member attains 71 years of age), namely,

• (g) the provisions in paragraph (2)(m), Part LXXXIII and subsection 8517(4) that depend on whether the member’s retirement benefits have commenced to be paid apply to past service events, commutations and transfers occurring in the period in which the member’s benefits are suspended as if the member’s benefits had not previously commenced to be paid.

•  

  Definitions

• (16) The following definitions apply in this subsection and in subsections (17) to (23).

  “qualifying period”

  “qualifying period” of a member under a defined benefit provision of a pension plan means a period throughout which the member is employed by an employer who participates in the plan but does not include any period that is before the day that is the first day, on or after the later of the following days, in respect of which retirement benefits are provided under the provision to the member:

  • (a) the day on which retirement benefits first commenced to be paid to the member under the provision; and

  • (b) the member’s specified eligibility day under the provision. (période admissible)

  “specified eligibility day”

  “specified eligibility day” of a member under a defined benefit provision of a pension plan means the earlier of

  • (a) the later of

    • (i) the day on which the member attains 55 years of age, and

    • (ii) the day on which the member attains the earliest age at which payment of the member’s lifetime retirement benefits may commence under the terms of the provision without a reduction computed by reference to the member’s age, duration of service, or both (and without any other similar reduction), otherwise than because of the member being totally and permanently disabled; and

  • (b) the day on which the member attains 60 years of age. (date d’admissibilité)

•  

  Bridging Benefits Payable on a Stand-alone Basis

• (17) The condition in subparagraph (2)(b)(i) that bridging benefits be payable to a member under a defined benefit provision of a pension plan for a period beginning no earlier than the time lifetime retirement benefits commence to be paid under the provision to the member does not apply where the following conditions are satisfied:

  • (a) the bridging benefits do not commence to be paid before the member’s specified eligibility day under the provision;

  • (b) the plan provides that bridging benefits are payable under the provision to the member only for calendar months

    • (i) at any time in which the member is employed by an employer who participates in the plan, or

    • (ii) that begin on or after the time the member’s lifetime retirement benefits under the provision commence to be paid;

  • (c) the member was not, at any time before the time at which the bridging benefits commence to be paid, connected with an employer who participates in the plan; and

  • (d) the plan is not a designated plan.

  Rules of Application

• (18) Where bridging benefits under a defined benefit provision of a pension plan commence to be paid to a member in circumstances to which subsection (17) applies, the following rules apply:

  • (a) if the member dies before lifetime retirement benefits under the provision commence to be paid to the member, subsections (2) and (6) apply in respect of benefits provided under the provision on the death of the member as if the bridging benefits had not commenced to be paid before the member’s death; and

  • (b) the provisions in paragraph (2)(m), Part LXXXIII and subsection 8517(4) that depend on whether the member’s retirement benefits have commenced to be paid apply to past service events, commutations and transfers occurring before lifetime retirement benefits under the provision commence to be paid to the member as if the bridging benefits had not commenced to be paid.

  Benefit Accruals After Pension Commencement

• (19) Paragraph (3)(b) does not apply to retirement benefits (in this subsection and in subsections (20) and (21) referred to as “additional benefits”) provided under a defined benefit provision of a pension plan to a member of the plan if the following conditions are satisfied:

  • (a) the additional benefits are provided in respect of all or part of a qualifying period of the member under the provision;

  • (b) the amount of retirement benefits payable to the member under the provision for each whole calendar month in the qualifying period does not exceed 5% of the amount (expressed on an annualized basis) of retirement benefits that have accrued under the provision to the member to the beginning of the month, determined without a reduction computed by reference to the member’s age, duration of service, or both, and without any other similar reduction (except that, if the plan limits the amount of pensionable service of a member or prohibits the provision of benefits in respect of periods after a member attains a specific age or combination of age and pensionable service, this condition does not apply to any calendar month in respect of which no benefits can be provided to the member because of the limit or prohibition, as the case may be);

  • (c) no part of the additional benefits are provided as a consequence of a past service event, unless the benefits are provided in circumstances to which subsection 8306(1) would apply if no qualifying transfers were made in connection with the past service event;

  • (d) the member was not, at any time before the additional benefits become provided, connected with an employer who participates in the plan; and

  • (e) the plan is not a designated plan.

  Redetermination of Benefits

• (20) Where the amount of retirement benefits payable under a defined benefit provision of a pension plan to a member is redetermined to include additional benefits provided to the member in respect of a qualifying period of the member under the provision, the conditions in paragraph (2)(b) and section 8504 apply in respect of benefits payable under the provision to the member after the redetermination as if the member’s retirement benefits had first commenced to be paid at the time of the redetermination.

  Rules of Application

• (21) Where additional benefits are provided under a defined benefit provision of a pension plan to a member in respect of a qualifying period of the member under the provision, the following rules apply:

  • (a) if the qualifying period ends as a consequence of the member’s death, subsections (2) and (6) apply in respect of benefits provided under the provision on the death of the member as if the member’s retirement benefits had not commenced to be paid before the member’s death; and

  • (b) the provisions in paragraph (2)(m), Part LXXXIII and subsection 8517(4) that depend on whether the member’s retirement benefits have commenced to be paid apply to past service events, commutations and transfers occurring in the qualifying period as if the member’s retirement benefits had not commenced to be paid.

  Anti-avoidance

• (22) Subsections (20) and (21) do not apply where it is reasonable to consider that one of the main reasons for the provision of additional benefits to the member is to obtain the benefit of any of those subsections.

  Cross-plan Rules

• (23) Where a member is provided with benefits under two or more associated defined benefit provisions, the determination of whether the conditions in subsections (17) and (19) are satisfied in respect of benefits payable or provided to the member under a particular associated provision shall be made on the basis of the following assumptions:

  • (a) benefits payable to the member under each of the other associated provisions were payable under the particular associated provision;

  • (b) if, before the member’s specified eligi-bility day (determined without reference to this paragraph) under the particular associated provision, the member had commenced to receive retirement benefits under another associated provision on or after the member’s specified eligibility day under that provision, the member’s specified eligibility day under the particular associated provision were the member’s specified eligibility day under that other associated provision; and

  • (c) if one or more of the other associated provisions is in a designated plan, the plan that includes the particular provision were also a designated plan.

  Associated Defined Benefit Provisions

• (24) For the purpose of subsection (23), a defined benefit provision is associated with another defined benefit provision (other than a provision that is not in a registered pension plan) if

  • (a) the provisions are in the same pension plan; or

  • (b) the provisions are in separate pension plans and

    • (i) there is an employer who participates in both plans, or

    • (ii) an employer who participates in one of the plans does not deal at arm’s length with an employer who participates in the other plan.

  Subsection (24) not Applicable

• (25) A particular defined benefit provision of a pension plan is not associated with a defined benefit provision of another pension plan if it is unreasonable to expect the benefits under the particular provision to be coordinated with the benefits under the other provision and the Minister has agreed not to treat the particular provision as being associated with the other provision.