Pension Benefits Standards Regulations, 1985 — 2
Act ; ( institution financière ) foreign institution means an entity that is (a) engaged in the business of banking, the trust, loan or insurance business, the business of a cooperative credit society or the business of dealing in securities or is otherwise engaged primarily in the business of providing financial services, and (b) incorporated or formed otherwise than by or under an Act of Parliament or of the legislature of a province; ( institution étrangère ) going concern assets means the value of the assets of a plan, including income due and accrued, determined on the basis of a going concern valuation; ( actif évalué en continuité ) going concern deficit means the amount by which the going concern liabilities exceed the going concern assets; ( déficit évalué en continuité ) going concern excess means the amount by which the going concern assets exceed the going concern liabilities; ( excédent évalué en continuité ) going concern liabilities means the present value of the accrued benefits of a plan as determined on the basis of a going concern valuation, including (a) amounts due and unpaid; (b) in the case of a negotiated contribution plan, a provision for adverse deviations; and (c) in the case of any other plan, a provision for adverse deviations, if any; ( passif évalué en continuité ) going concern ratio means the ratio of the going concern assets to the going concern liabilities, on the basis of the most recent actuarial report, excluding those going concern assets and going concern liabilities that are attributable to benefits paid by means of an insurance contract or an annuity, other than a revocable annuity; ( ratio de continuité ) going concern special payment means a special payment made in respect of an unfunded liability under subsection 9(3); ( paiement spécial de continuité ) going concern valuation means a valuation of the assets and liabilities of a plan using actuarial assumptions and methods that are in accordance with accepted actuarial practice for the valuation of a plan that is not expected to be terminated or wound up; ( évalué en continuité ) immediate life annuity means a life annuity that (a) commences periodic payments within one year after its purchase, (b) provides for equal periodic payments or periodic payments that have been varied by reference to (i) the amount of any pension payable under the Old Age Security Act , (ii) the amount of any pension payable under either the Canada Pension Plan or a provincial pension plan as defined in section 3 of the Canada Pension Plan , (iii) the Consumer Price Index for Canada as published by Statistics Canada under the authority of the Statistics Act , or (iv) the value of the assets held in a segregated fund, and (c) is issued by a person authorized to carry on a life insurance business in Canada; ( prestation viagère immédiate ) insured plan means a plan in which all benefits are paid by means of an annuity or insurance contract issued by a person authorized to carry on a life insurance business in Canada and under which the person is obligated to pay all the benefits set out in the plan; ( régime assuré ) investment fund means a fund — established by a corporation, limited partnership or trust — the purpose of which is to invest the moneys of two or more investors and the shares or units of which are allocated to each investor in proportion to the interest of the investor in the assets of the fund; ( fonds de placement ) letter of credit means a letter of credit that meets the requirements of subsection 9.1(5); ( lettre de crédit ) life income fund means a registered retirement income fund, as defined in subsection 146.3(1) of the Income Tax Act , that meets the requirements set out in section 20.1; ( fonds de revenu viager ) locked-in registered retirement savings plan means a registered retirement savings plan, as defined in subsection 146(1) of the Income Tax Act , that meets the requirements set out in section 20; ( régime enregistré d’épargne