Pension Benefits Standards Act, 1985

Marginal note:Superintendent’s directions to administrators

• 11 (1) If, in the opinion of the Superintendent, an administrator, an employer or any person is, in respect of a pension plan, committing or about to commit an act, or pursuing or about to pursue any course of conduct, that is contrary to safe and sound financial or business practices, the Superintendent may direct the administrator, employer or other person to

  • (a) cease or refrain from committing the act or pursuing the course of conduct; and

  • (b) perform such acts as in the opinion of the Superintendent are necessary to remedy the situation.

• Marginal note:Directions in the case of non-compliance

  (2) If, in the opinion of the Superintendent, a pension plan does not comply with this Act or the regulations or is not being administered in accordance with this Act, the regulations or the plan, the Superintendent may direct the administrator, the employer or any person to

  • (a) cease or refrain from committing the act or pursuing the course of conduct that constitutes the non-compliance; and

  • (b) perform such acts as in the opinion of the Superintendent are necessary to remedy the situation.

• Marginal note:Opportunity for representations

  (3) Subject to subsection (4), no direction shall be issued under subsection (1) or (2) unless the Superintendent gives the administrator, employer or other person a reasonable opportunity to make written representations.

• Marginal note:Temporary direction

  (4) If, in the opinion of the Superintendent, the length of time required for representations to be made under subsection (3) might be prejudicial to the interests of the members, former members or any other persons entitled to pension benefits under the pension plan, the Superintendent may make a direction with respect to the matters referred to in subsection (1) or (2) that has effect for a period of not more than 15 days.

• Marginal note:Continued effect

  (5) A temporary direction under subsection (4) continues to have effect after the expiry of the fifteen day period referred to in that subsection if no representations are made to the Superintendent within that period or, if representations have been made, the Superintendent notifies the administrator, employer or other person that the Superintendent is not satisfied that there are sufficient grounds for revoking the direction.