Income Tax Act — I-3.3 147.1
) There shall, for each registered pension plan, be a person or a body of persons that has ultimate responsibility for the administration of the plan and, except as otherwise permitted in writing by the Minister, the person or a majority of the persons who constitute the body shall be a person or persons resident in Canada. Obligations of administrator (7) The administrator of a registered pension plan shall (a) administer the plan in accordance with the terms of the plan as registered except that, where the plan fails to comply with the prescribed conditions for registration or any other requirement of this Act or the regulations, the administrator may administer the plan as if it were amended to so comply; (b) before July, 1990, in the case of a person or body that is the administrator on January 1, 1989 or becomes the administrator before June, 1990, and, in any other case, within 30 days after becoming the administrator, inform the Minister in writing (i) of the name and address of the person who is the administrator, or (ii) of the names and addresses of the persons who constitute the body that is the administrator; and (c) where there is any change in the information provided to the Minister in accordance with this paragraph or paragraph 147.1(7)(b), inform the Minister in writing, within 60 days after the change, of the new information. Pension adjustment limits (8) Except as otherwise provided by regulation, a registered pension plan (other than a multi-employer plan) becomes, at the end of a calendar year after 1990, a revocable plan where (a) the pension adjustment for the year of a member of the plan in respect of a participating employer exceeds the lesser of (i) the money purchase limit for the year, and (ii) 18% of the member’s compensation from the employer for the year; or (b) the total of (i) the pension adjustment for the year of a member of the plan in respect of a participating employer, and (ii) the total of all amounts each of which is the member’s pension adjustment for the year in respect of an employer who, at any time in the year, does not deal at arm’s length with the employer referred to in subparagraph 147.1(8)(b)(i) exceeds the money purchase limit for the year. Idem — multi-employer plans (9) Except as otherwise provided by regulation, a registered pension plan that is a multi-employer plan (other than a specified multi-employer plan) in a calendar year after 1990 becomes, at the end of the year, a revocable plan where (a) for a member and an employer, the total of all amounts each of which is the member’s pension credit (as prescribed by regulation) for the year in respect of the employer under a defined benefit or money purchase provision of the plan exceeds the lesser of (i) the money purchase limit for the year, and (ii) 18% of the member’s compensation from the employer for the year; or (b) for a member, the total of all amounts each of which is the member’s pension credit (as prescribed by regulation) for the year in respect of an employer under a defined benefit or money purchase provision of the plan exceeds the money purchase limit for the year. Past service benefits (10) With respect to each past service event that is relevant to the determination of benefits in respect of a member under a defined benefit provision of a registered pension plan, such benefits as are in respect of periods after 1989 and before the calendar year in which the event occurred shall be determined, for the purpose of a payment to be made from the plan or a contribution to be made to the plan at a particular time, with regard to the event only if (a) where the member is alive at the particular time and except as otherwise provided by regulation, the Minister has certified in writing, before the particular time, that prescribed conditions are satisfied, (b) where the member died before the particular time and the event occurred before the death of the member, (i) this subsection did not require that the event be