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Bill C-421

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R.S., c. 13 (2nd Supp.)


21. The definition ``Chief Actuary'' in section 2 of the Public Pensions Reporting Act is replaced by the following:

``Chief Actuary''
« actuaire en chef »

``Chief Actuary'' means the Chief Actuary appointed under subsection 4(1) of the Chief Actuary Act or the person appointed under subsection 4(4) of that Act to hold office instead of the Chief Actuary;

22. The portion of subsection 3(1) of the Act before paragraph (a) is replaced by the following:

Pension Plan Review

3. (1) The Chief Actuary shall conduct actuarial reviews, in accordance with this section, of the pension plans established under the following Acts:

23. Section 4 of the Act is replaced by the following:

Where plan is amended

4. Where an amendment is made to a pension plan referred to in subsection 3(1) and the amendment affects the cost of benefits or creates an initial unfunded liability, the Chief Actuary shall conduct an actuarial review of the plan as of the effective date of the amendment.

24. Subsection 6(2) of the Act is replaced by the following:

Contents of valuation report

(2) A valuation report filed pursuant to this section shall be prepared in a manner consistent with the guides and Recommendations for the preparation of an actuarial report in connection with a pension plan, published by the Canadian Institute of Actuaries, and may include such additional information as the Minister may from time to time require and that the Chief Actuary deems relevant .

25. Subsection 8(1) of the Act is replaced by the following:

Assets report

8. (1) The Chief Actuary shall make a certification of the assets of a pension plan established under the Canadian Forces Superannuation Act, the Members of Parliament Retiring Allowances Act, the Public Service Superannuation Act, the Royal Canadian Mounted Police Superannuation Act and the Supplementary Retirement Benefits Act and file a report thereof with the Minister. The report shall be filed at the same time as a cost certificate is filed pursuant to subsection 5(1).

26. Section 9 of the Act is replaced by the following:

Report laid before Parliament

9. The Chief Actuary shall submit to the Speaker of the House of Commons any cost certificate, valuation report or assets report filed with the Minister pursuant to this Act not later than five days after it is filed and the Speaker shall table each such certificate or report in the House of Commons on the day it is received if the House is sitting, or if the House is not sitting, the Speaker shall table the report with the clerk of the House of Commons unless the House is not sitting because it is dissolved, in which case the Speaker shall cause a copy of the certificate or report to be published in the Canada Gazette.