Nordion and Theratronics Divestiture Authorization Act

Marginal note:Pension rights

• 9 (1) In the manner and to the extent provided by the regulations made under subsection (3), the Public Service Superannuation Act and the regulations made under that Act apply to a person who meets all of the following criteria:

  • (a) the person was employed by Nordion or Theratronics and was a contributor under that Act immediately preceding the date on which shares of Nordion or Theratronics, as the case may be, are first sold or otherwise disposed of pursuant to subsection 4(1);

  • (b) the President of the Treasury Board has not made a payment to Nordion or Theratronics pursuant to section 40 of that Act in respect of that person;

  • (c) the person has not received or opted to receive any annuity or other benefit under section 12 or 13 of that Act in respect of the pensionable service to that person’s credit under that Act immediately preceding the date referred to in paragraph (a); and

  • (d) the person elects, within the later of one year after the coming into force of this section and one year after the date on which shares of Nordion or Theratronics, as the case may be, are first sold or otherwise disposed of pursuant to subsection 4(1), and in such form and manner as the President of the Treasury Board directs, to have that Act and the regulations made under that Act apply to that person in the manner and to the extent provided by the regulations made under subsection (3).

• Marginal note:Election irrevocable

  (2) An election referred to in paragraph (1)(d) is irrevocable.

• Marginal note:Regulations

  (3) The Governor in Council may, in relation to persons referred to in paragraph (1)(d), make regulations

  • (a) respecting the manner in which and extent to which provisions of the Public Service Superannuation Act and the regulations made under that Act apply;

  • (b) adapting provisions of that Act and those regulations for the purposes of this section; and

  • (c) generally for carrying out the purposes and provisions of this section.

• Marginal note:Retroactive application of regulations

  (4) Regulations made under subsection (3) may, if they so provide, be retroactive and have effect with respect to any period before they are made.