115 (1) The Lieutenant Governor in Council may make regulations, (a)  prescribing any matter that, under this Act, is permitted or required to be prescribed or to be otherwise done by regulation or in accordance with the regulations; (a.1)  respecting any matter in respect of which the Authority may make Authority rules under section 115.1, with necessary modifications; (b)  prescribing the times for filing or the last dates for filing of documents that are required to be filed under this Act; (c)  prescribing reports that shall be submitted to the Chief Executive Officer, the contents and the method of preparation of the reports and the persons or classes of persons by whom the reports must be prepared; (d)  prescribing pension benefits that are not guaranteed by the Guarantee Fund; (d.1)  respecting the timing and manner of allocating amounts from the Guarantee Fund and of paying those amounts to pension plans, including providing that the Chief Executive Officer may determine the timing and manner of allocating and paying those amounts; (e)  governing the payment of amounts by employers to the Guarantee Fund under subsection 82 (3.2), including rules, (i)  relating to assessments of amounts required to be paid, (ii)  determining due dates for required payments, (iii)  imposing interest or penalties on late payment or non-payment of amounts required to be paid and describing the method for determining the rate of interest or the amount of a penalty, (iv)  determining the amount of any overpayment made by an employer and the circumstances in which the overpayment is to be refunded or applied in whole or in part against the amount of a future assessment; (f)  prescribing procedures that shall govern the appointments of members of pension committees; (g)  prescribing procedures that shall govern the establishment of advisory committees and the appointments of members of advisory committees; (h)  prescribing requirements and restrictions that apply with respect to actuarial methods and assumptions that may be used in the preparation of reports required under this Act or the regulations; (i)  prescribing the methods of calculating the values of assets and liabilities of pension funds; (j)  prescribing criteria that must be complied with before any surplus may be paid out of a pension fund; (k)  prescribing the rate or the method of determining the rate at which an employer shall pay money due from the employer under this Act on the winding up of a pension plan, and prescribing the manner of payment and to whom the payments shall be made; (l)  regulating or prohibiting the investment of money from pension funds and prescribing investments or classes of investments in which such money may be invested; (m)  prescribing requirements for retirement savings contracts and life annuity contracts between members, former members and retired members of pension plans and trustees to whom administrators may make payment when required in accordance with this Act, requiring such trustees to file specimens of such contracts before such payments may be made, and authorizing the Chief Executive Officer to refuse to file a specimen contract that does not meet the requirements; (n)  prescribing the rate of interest and the method of calculating interest payable under this Act or the regulations, if such rate or method is not specified in the requirement for payment of the interest; (o)  Repealed: 1997, c. 28, s. 224 (2). (p)  prescribing the time within which any document specified in the regulations that this Act requires to be given, transmitted, filed or served shall be given, transmitted, filed or served; (q)  prescribing requirements that shall be complied with in the administration of a pension plan; (r)  prescribing records that shall be kept by the administrator of a pension plan and the period of time for which such records shall be retained by the administrator; (s)  requiring the audit of pension plans or classes of pension plans and pension funds and classes of pension funds and prescribing the persons or classes of persons who may perform the audits and the manner of performing the audits; (t)  prescribing the manner of determining the portion of a pension benefit, pension, deferred pension or ancillary benefit that is attributable to employment before the 1st day of January, 1988 or that is attributable to employment on or after the 1st day of January, 1988; (u)  prohibiting or regulating the reduction of bridging benefits or the variation of pension benefits by reference to benefits payable under the Canada Pension Plan, the Quebec Pension Plan or the Old Age Security Act (Canada); (v)  governing the wind up of pension plans or classes of pension plans and prescribing priorities or the method of determining priorities on wind up, including priorities in allocation of assets; (w)  governing the receiving, holding and disbursing of pension benefits by any agency established or designated under this Act; (x)  exempting pension plans, pension funds, employees, administrators or other persons from the application of this Act or the regulations or from any section of this Act or the regulations; (y)  governing the fees that may be imposed by an administrator under section 67.2 or 67.7; (z)  prescribing, for the purposes of the definition of “designated jurisdiction” in subsection 1 (1), any jurisdiction in Canada, including Canada itself, as a jurisdiction in which there is in force legislation substantially similar to this Act; (z.1)  Repealed: 2018, c. 17, Sched. 33, s. 13. (z.2)  providing for any matter that the Lieutenant Governor in Council considers necessary or advisable for the implementation of an agreement under section 100; (z.3)  governing the administrative penalties that may be imposed under section 108.2 or 108.3. R.S.O. 1990, c. P.8, s. 115 (1); 1997, c. 28, s. 224; 2007, c. 7, Sched. 31, s. 3 (1); 2009, c. 11, s. 50; 2009, c. 18, Sched. 24, s. 2 (1); 2010, c. 1, Sched. 23, s. 14 (1, 2); 2010, c. 9, s. 79 (1); 2010, c. 24, s. 46 (1); 2016, c. 37, Sched. 19, s. 6 (1, 2); 2017, c. 8, Sched. 27, s. 19; 2017, c. 34, Sched. 33, s. 42 (1); 2018, c. 8, Sched. 23, s. 23; 2018, c. 17, Sched. 33, s. 13. Note: On a day to be named by proclamation of the Lieutenant Governor, subsection 115 (1) of the Act is amended by adding the following clause: (See: 2019, c. 14, Sched. 9, s. 39 (1)) (z.4)  providing for any transitional matters that the Lieutenant Governor in Council considers necessary or advisable to facilitate the implementation of the amendments to this Act made by sections 27 to 36 of Schedule 9 to the Better for People, Smarter for Business Act, 2019, including limiting the availability of a statement of imputed value under section 67.2.1, a lump sum transfer under section 67.3.1 or a division of a pension under section 67.4.1 in specified circumstances. Administrative penalties (1.1) Without limiting the generality of clause (1) (z.3), a regulation governing administrative penalties may, (a)  prescribe criteria the Chief Executive Officer is required or permitted to consider when imposing a penalty under section 108.2 or 108.3; (b)  prescribe the amount of a penalty, or the method for calculating the amount of a penalty, and prescribe different penalties or ranges of penalties for different types of contraventions or failures to comply and for different classes of persons; (c)  authorize the Chief Executive Officer to determine the amount of a penalty, if the amount of the penalty or the method for calculating the amount of the penalty is not prescribed, and prescribe criteria the Chief Executive Officer is required or permitted to consider when determining this; (d)  authorize a penalty to be imposed for each day or part of a day on which a contravention or failure to comply continues; (e)  authorize higher penalties (not to exceed the maximum penalty established under section 108.4 or prescribed for the purposes of that section) for a second or subsequent contravention or failure to comply by a person; (f)  govern the manner of paying the penalties; (g)  require that a penalty be paid before a specified deadline or before a deadline specified by the Chief Executive Officer; (h)  authorize the imposition of late payment fees respecting penalties that are not paid before the deadline, including graduated late payment fees; (i)  establish a maximum cumulative penalty payable in respect of a contravention or failure to comply or in respect of contraventions or failures to comply during a specified period. 2016, c. 37, Sched. 19, s. 6 (3); 2018, c. 8, Sched. 23, s. 23. Regulations re transfer of Commission, Superintendent powers, duties and functions (1.2) The Lieutenant Governor in Council may make regulations, (a)  providing for the transfer of powers conferred on, duties assigned to and functions of the Superintendent under this Act to the Authority or to the Chief Executive Officer; (b)  providing for the transfer of powers conferred on, duties assigned to and functions of the Commission under this Act to the Authority or to the Chief Executive Officer; (c)  deeming references in this Act or the regulations to the Superintendent or the Commission to be references to the Authority or the Chief Executive Officer; (d)  governing transitional matters that may arise due to the transfers described in clauses (a) and (b) or the deeming of references described in clause (c). 2017, c. 34, Sched. 33, s. 42 (2). Same (1.3) A regulation made under subsection (1.2) is subject to such conditions, limitations and restrictions as may be prescribed. 2017, c. 34, Sched. 33, s. 42 (2). Conflicts (1.4) If there is a conflict between a regulation made under subsection (1.2) and any Act or any other regulation, the regulation made under subsection (1.2) prevails, unless the Act or other regulation specifies that it prevails. 2017, c. 34, Sched. 33, s. 42 (2). Scope of regulations (2) A regulation may be general or particular in its application and may be limited as to time or place or both.  R.S.O. 1990, c. P.8, s. 115 (2). Adoption of codes in regulations (3) A regulation may adopt by reference, in whole or in part, with such changes as the Lieutenant Governor in Council considers necessary, any code, formula, standard or procedure, and may require compliance with a code, formula, standard or procedure so adopted.  R.S.O. 1990, c. P.8, s. 115 (3). Amendments to adopted codes, etc. (3.1) The power to adopt by reference and require compliance with a code, formula, standard or procedure in subsection (3) includes the power to adopt a code, formula, standard or procedure as it may be amended from time to time after the regulation is made. 2019, c. 14, Sched. 9, s. 39 (2). Terms, conditions, qualifications, requirements (4) Any provision of a regulation may be subject to such terms, conditions, qualifications or requirements as are specified in the regulation.  R.S.O. 1990, c. P.8, s. 115 (4). Classes of multi-employer pension plans (5) Without limiting the generality of subsection (2), a regulation may establish one or more classes of multi-employer pension plans.  2007, c. 7, Sched. 31, s. 3 (2). Public sector pension plans (5.1) Different requirements may be prescribed for public sector pension plans than are prescribed for other classes of pension plans.  2010, c. 24, s. 46 (2). Authority to make retroactive regulations re funding defined benefit plans (6) A regulation relating to the funding of a pension plan that provides defined benefits, including any regulation prescribing anything referred to in section 55 as being prescribed and any regulation prescribing matters referred to in clause 115 (1) (c) or (i), may come into force on a day earlier than the day the regulation is filed and apply to a period that commences on or after December 31, 2009.  2009, c. 18, Sched. 24, s. 2 (2); 2010, c. 1, Sched. 23, s. 14 (3); 2010, c. 9, s. 79 (2). (7) Repealed: 2013, c. 2, Sched. 11, s. 1 (1). Section Amendments with date in force (d/m/y) R.S.O. 1990, c. P.8, s. 115 (6) - 01/01/2007; R.S. O. 1990, c. P.8, s. 115 (7) - no effect - see 2013, c. 2, Sched. 11, s. 1 (1) - 21/06/2013; 1997, c. 28, s. 224 (1, 2) - 01/07/1998 2005, c. 31, Sched. 18, s. 12 - 31/12/2004 2007, c. 7, Sched. 31, s. 3 (1, 2)
- 17/05/2007 2009, c. 18, Sched. 24, s. 2 (1, 2)
- 05/06/2009; 2009, c. 11, s. 50 - 01/01/2012 2010, c. 1, Sched. 23, s. 14 (1, 2)
- 01/10/2010; 2010, c. 1, Sched. 23, s. 14 (3, 4)
- 18/05/2010; 2010, c. 9, s. 79 (2) - 18/05/2010;
2010, c. 9, s. 79 (1) - 01/07/2012;
2010, c. 24, s. 46 (1, 2) - 08/12/2010 2011, c. 9, Sched. 35, s. 12 - 12/05/2011 2012, c. 8, Sched. 44, s. 9 - 20/06/2012 2013, c. 2, Sched. 11, s. 1 (2) - no effect - see 2013, c. 2, Sched. 11, s. 1 (1) - 21/06/2013; 2013, c. 2, Sched. 11, s. 1 (1) - 21/06/2013 2016, c. 37, Sched. 19, s. 6 (1-3) - 01/01/2018 2017, c. 8, Sched. 27, s. 19 - 01/01/2020; 2017, c. 34, Sched. 33, s. 42 (1, 2) - 08/06/2019 2018, c. 8, Sched. 23, s. 23 - 08/06/2019; CTS 04 SE 18 - 3; 2018, c. 17, Sched. 33, s. 13 – 01/07/2023 2019, c. 14, Sched. 9, s. 39 (1) - not in force; 2019, c. 14, Sched. 9, s. 39 (2) - 10/12/2019