82 (1) The Pension Benefits Guarantee Fund is continued under the name Pension Benefits Guarantee Fund in English and Fonds de garantie des prestations de retraite in French.  R.S.O. 1990, c. P.8, s. 82 (1). Administration (2) The Chief Executive Officer is responsible for the administration of the Guarantee Fund including the investment of the assets of the Guarantee Fund.  R.S.O. 1990, c. P.8, s. 82 (2); 1997, c. 28, s. 203; 2018, c. 8, Sched. 23, s. 23. Expenses (3) The Chief Executive Officer may charge to the Guarantee Fund the reasonable expenses incurred by the Chief Executive Officer in the administration of the Guarantee Fund.  R.S.O. 1990, c. P.8, s. 82 (3); 1997, c. 28, s. 203; 2018, c. 8, Sched. 23, s. 23. Funding of the Guarantee Fund (3.1) Subject to subsection 102.1 (10), the Guarantee Fund is to be funded by all employers required to make contributions under pension plans that provide defined benefits that are not exempt from the application of the Guarantee Fund by this Act or the regulations.  2009, c. 18, Sched. 24, s. 1 (1); 2017, c. 8, Sched. 27, s. 17. Same (3.2) The amounts to be paid under subsection (3.1) by employers to the Guarantee Fund shall be determined in accordance with the prescribed rules.  2009, c. 18, Sched. 24, s. 1 (1). Loans to Guarantee Fund (4) If at any time the amount standing to the credit of the Guarantee Fund is insufficient for the purpose of paying claims, the Lieutenant Governor in Council may authorize the Minister of Finance to make loans out of the Consolidated Revenue Fund to the Guarantee Fund on such terms and conditions as the Lieutenant Governor in Council directs.  R.S.O. 1990, c. P.8, s. 82 (4); 2004, c. 31, Sched. 31, s. 5. Grant to Guarantee Fund (5) If at any time the amount standing to the credit of the Guarantee Fund is insufficient for the purpose of paying claims, the Lieutenant Governor in Council may authorize the Minister of Finance to make a grant, on such terms and conditions as the Lieutenant Governor in Council directs, to the Guarantee Fund out of money appropriated for that purpose by the Legislature.  2009, c. 18, Sched. 24, s. 1 (3); 2010, c. 1, Sched. 23, s. 8. Loans and grants discretionary (6) Nothing in this Act or the regulations requires the Lieutenant Governor in Council to authorize the Minister of Finance to make either a loan or a grant to the Guarantee Fund.  2009, c. 18, Sched. 24, s. 1 (3). Liability of Guarantee Fund limited (7) The total liability of the Guarantee Fund to guarantee pension benefits at any particular time is limited to the assets of the Guarantee Fund at that time, calculated after including any loan or grant that may have been made to the Guarantee Fund under subsection (4) or (5).  2009, c. 18, Sched. 24, s. 1 (3). Not public money (8) The assets of the Guarantee Fund are not public money within the meaning of the Financial Administration Act and do not form part of the Consolidated Revenue Fund. 2019, c. 7, Sched. 48, s. 4. Section Amendments with date in force (d/m/y) 1997, c. 28, s. 203 - 01/07/1998 2004, c. 31, Sched. 31, s. 5 - 16/12/2004 2009, c. 18, Sched. 24, s. 1 (1, 3)
- 05/06/2009; 2009, c. 18, Sched. 24, s. 1 (2) - no effect - see Table of Public Statute Provisions Repealed Under Section 10.1 of the Legislation Act, 2006 - 31/12/2019 2010, c. 1, Sched. 23, s. 8 - 25/03/2010 2017, c. 8, Sched. 27, s. 17 - 29/06/2017 2018, c. 8, Sched. 23, s. 23 - 08/06/2019 2019, c. 7, Sched. 48, s. 4 - 29/05/2019