59.4.1 (1) In this section, “family law valuation date” means, with respect to the parties to an arbitration, (a) the valuation date under Part I (Family Property) that applies in respect of the parties, or (b) for parties to whom Part I does not apply, the date on which they separate and there is no reasonable prospect that they will resume cohabitation.  2009, c. 11, s. 39. Immediate transfer of lump sum (2) A family arbitration award may provide for the immediate transfer of a lump sum out of a pension plan, but, except as permitted under subsection (3), not for any other division of a party’s interest in the plan.  2009, c. 11, s. 39. Division of pension payments (3) If payment of the first instalment of a party’s pension under a pension plan is due on or before the family law valuation date, the family arbitration award may provide for the division of pension payments, but not for any other division of the party’s interest in the plan.  2009, c. 11, s. 39. Restrictions re certain pension plans (4) If the Pension Benefits Act applies to the pension plan, the restrictions under sections 67.3 and 67.4 of that Act or under sections 67.8 and 67.9 of that Act in relation to variable benefits apply with respect to the division of the party’s interest in the plan under a family arbitration award.  2009, c. 11, s. 39; 2017, c. 8, Sched. 27, s. 21 (2). Note: On a day to be named by proclamation of the Lieutenant Governor, subsection 59.4.1 (4) of the Act is amended by striking out “sections 67.3 and 67.4” and substituting “sections 67.3, 67.3.1, 67.4 and 67.4.1”. (See: 2019, c. 14, Sched. 9, s. 44) Same (4.1) If the Pooled Registered Pension Plans Act, 2015 applies to the pension plan, the restrictions under sections 19 and 20 of that Act apply with respect to the division of the party’s interest in the plan under a family arbitration award. 2015, c. 9, s. 28 (3). Valuation (5) Subsections 10.1 (1) and (2) apply, with necessary modifications, with respect to the valuation of a party’s interest in a pension plan.  2009, c. 11, s. 39. Same, pooled registered pension plans (5.1) Subsection 10.1 (1.1) applies, with necessary modifications, with respect to the valuation of a party’s interest in a pension plan to which the Pooled Registered Pension Plans Act, 2015 applies. 2015, c. 9, s. 28 (3). Transition, family law valuation date (6) This section applies whether the family law valuation date is before, on or after the date on which this section comes into force.  2009, c. 11, s. 39. Transition, previous family arbitration awards (7) This section does not apply to a family arbitration award made before the date on which this section comes into force that requires one party to pay to the other party the amount to which that party is entitled under section 5 (equalization of net family properties).  2009, c. 11, s. 39. Section Amendments with date in force (d/m/y) 2009, c. 11, s. 39
- 01/01/2012 2015, c. 9, s. 28 (3)
- 08/11/2016 2017, c. 8, Sched. 27, s. 21 (2) - 01/01/2020 2019, c. 14, Sched. 9, s. 44 - not in force 59.5 Repealed:  2009, c. 33, Sched. 2, s. 34 (5). Section Amendments with date in force (d/m/y) 2006, c. 1, s. 5 (10) - 30/04/2007 2009, c. 33, Sched. 2, s. 34 (5) - 15/12/2009