Pension Benefits Standards Regulations, 1985 — 2
2 (1) In these Regulations, accepted actuarial practice means the standards of practice described in paragraph 9(2)(b) of the Act, taking into account any specification made by the Superintendent under that paragraph; ( normes actuarielles reconnues ) accountant means a person authorized to act as an accountant under the laws of a province; ( comptable ) Act means the Pension Benefits Standards Act, 1985 ; ( Loi ) actuarial gain [Repealed, SOR/2010-149, s. 1] actuarial report means an actuarial report filed with the Superintendent under subsection 9.01(5) or 12(2) of the Act or a copy of the report that is provided under subsection 9.01(6) of the Act; ( rapport actuariel ) actuary [Repealed, SOR/2011-85, s. 1] adjusted solvency asset amount means the amount determined by multiplying the average solvency ratio by the amount of the solvency liabilities; ( montant rajusté de l’actif de solvabilité ) average solvency ratio means the solvency ratio determined in accordance with subsections 9(8) to (11); ( ratio de solvabilité moyen ) book value , in respect of an asset, means the cost of acquisition to the person acquiring the asset, including all direct costs associated with the acquisition; ( valeur comptable ) bridging benefit means a periodic payment that is provided under a plan to a former member of the plan for a temporary period of time after the former member’s retirement for the purpose of supplementing the former member’s pension benefit until the former member is eligible to receive benefits under the Old Age Security Act or is eligible for or commences to receive retirement benefits under the Canada Pension Plan or An Act respecting the Quebec Pension Plan ; ( prestation de raccordement ) Canadian resource property has the same meaning as in paragraph 66(15)(c) of the Income Tax Act ; ( avoirs miniers canadiens ) deferred life annuity means a life annuity that (a) commences periodic payments no earlier than 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 différée ) experience gain [Repealed, SOR/2010-149, s. 1] experience loss [Repealed, SOR/2010-149, s. 1] financial institution means (a) except in section 11.1, (i) a bank or an authorized foreign bank within the meaning of section 2 of the Bank Act , (ii) a body corporate to which the Trust and Loan Companies Act applies, (iii) a cooperative credit society to which the Cooperative Credit Associations Act applies, (iv) an insurance company to which the Insurance Companies Act applies, (v) a trust, loan or insurance corporation incorporated by or under an Act of the legislature of a province, (vi) a cooperative credit society incorporated and regulated by or under an Act of the legislature of a province, (vii) an entity that is incorporated or formed by or under an Act of Parliament or of the legislature of a province and that is primarily engaged in dealing in securities, including portfolio management and investment counselling, or (viii) a foreign institution; and (b) for the purposes of section 11.1, those entities referred to in subparagraphs (a)(i) to (vi) or a foreign institution for which an order of the Superintendent has been made under section 574 of the Insurance Companies 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