Pension Benefits Standards Act, 1985

Marginal note:Amendments to pension plans

• 37 (1) Where an amendment to a pension plan may reasonably be regarded as having been made in contemplation of the termination or winding-up of the plan, either immediately or in the future, with a view to avoiding payment of any pension benefit or other benefit for which the plan provided, the amendment is subject to being declared void, in the manner provided in this section.

• Marginal note:Application and declaration

  (2) A judge of the Federal Court may, on application to that Court by the Superintendent and after such notice to the administrator of the pension plan as the judge may direct, declare void any amendment to that pension plan that under subsection (1) is subject to being declared void, and thereon, except as otherwise determined on appeal, if any, the amendment shall be deemed to be and always to have been void for all purposes.

• Marginal note:Proceedings on declaration

  (3) Where any declaration has been made under subsection (2), except with consent of the Superintendent, no process or proceedings shall be taken or instituted in consequence of that declaration within the time limit for the bringing of any appeal therefrom or while any such appeal remains to be disposed of.