PART VII PENSION PLANS
Participation by affiliates in successor pension plans
104.1 (1) A successor employer may permit an affiliate to be a participating employer under a successor pension plan with respect to such employees of the affiliate, for such period and on such terms as the successor employer determines in its sole discretion acting in its capacity as an employer.  2000, c. 42, s. 39. Contributions by participating affiliates (2) The participating affiliate shall contribute to the pension fund for the plan for a year the amount determined by multiplying the rate described in subsection (4) by the pensionable earnings of the members of the plan who are employees of the affiliate, other than their pensionable earnings, if any, as employees of the successor employer.  2000, c. 42, s. 39. Reduction in contributions of successor employer (3) Despite subsection 104 (1), a successor employer who permits an affiliate to be a participating employer under the plan shall contribute to the pension fund for the plan for a year the amount determined by multiplying the rate described in subsection (4) by the pensionable earnings of the members of the plan who are employees of the successor employer, other than their pensionable earnings, if any, as employees of a participating affiliate.  2000, c. 42, s. 39. Rate for employer contributions (4) The rate for a year is determined by calculating the amount by which the normal cost in respect of all members of the plan exceeds the contributions made for the year to the pension fund for the plan by all members and dividing that amount by the pensionable earnings of all members of the plan for the year, as determined by the actuary of the plan.  2000, c. 42, s. 39. Reduction, etc., in contributions (5) If the plan has a surplus or a prior year credit balance or both, the successor employer, in its sole discretion acting in its capacity as an employer, may permit the participating affiliate to reduce or suspend its contributions to the pension fund to the extent permitted under the Pension Benefits Act, and the affiliate, in its sole discretion acting as employer, may do so.  2000, c. 42, s. 39. Note: On a day to be named by proclamation of the Lieutenant Governor, subsection (5) is repealed. (See: 2013, c. 2, Sched. 4, ss. 3, 4) Status of plan (6) The plan shall be deemed not to be a multi-employer pension plan for the purposes of the Pension Benefits Act.  2000, c. 42, s. 39. Definitions (7) In this section, “affiliate” means, in relation to a successor employer, (a) a corporation that is a subsidiary of the successor employer within the meaning of the Business Corporations Act, or (b) a corporation or partnership that is controlled by the successor employer, by the person who controls the successor employer or by a person who is controlled by the successor employer, as described in subsection (8); (“membre du même groupe”) “participating affiliate” means, with respect to a successor employer and a successor pension plan, an affiliate permitted under subsection (1) to be a participating employer under the plan. (“membre du même groupe participant”)  2000, c. 42, s. 39. Interpretation, control (8) For the purposes of clause (b) of the definition of “affiliate” in subsection (7), a corporation or partnership is controlled by another person or by the successor employer if the person or successor employer holds the following, directly or indirectly, other than by way of security: 1. Voting securities carrying more than 50 per cent of the votes for the election of directors of the corporation. 2. An ownership or other interest that confers on the holder more than 50 per cent of the voting interest or other governance rights in the partnership or more than 50 per cent of the income of the partnership.  2000, c. 42, s. 39. Section Amendments with date in force (d/m/y) 2000, c. 42, s. 39
- 01/04/1999 2013, c. 2, Sched. 4, s. 3 - not in force