Atlantic Pilotage Authority Pension Regulations
C.R.C., c. 1355
Regulations Respecting the Transfer of Pensions of Certain Pilots of the Atlantic Pilotage Authority
2. In these Regulations,
“Act” means the Public Service Superannuation Act; (Loi)
“Authority” means the Atlantic Pilotage Authority; (Administration)
“employee” means a pilot employed by the Authority who
(a) became a contributor under the Act on February 1, 1973; and
(b) was a contributor to Halifax Pilots’ Pension Fund on December 31, 1966, or to the Saint John Pilots’ Pension Fund on January, 31, 1973; (employé)
- “Halifax By-law”
“Halifax By-law” means the Halifax Pilotage District General By-law as confirmed by P.C. 1961-70; (Règlement de Halifax)
“Minister” means the President of the Treasury Board; (ministre)
- “Saint John By-law”
“Saint John By-law” means the Saint John Pilotage District General By-law as confirmed by P.C. 1961-1739; (Règlement de Saint-Jean)
- “Superannuation Account”
“Superannuation Account” means the Account referred to in the Act as the Superannuation Account. (Compte de pension de retraite)
DISPOSITION OF ASSETS OF THE PENSION FUND
3. (1) On or before September 30, 1973, the Authority shall pay to the Minister of Finance all moneys in the Halifax Pilots’ Pension Fund and the Saint John Pilots’ Pension Fund, together with the interest credited thereto, and shall transfer to the Minister of Finance all securities forming part of either of those funds, together with accrued interest thereon.
(2) The Minister of Finance shall pay into the Superannuation Account all moneys paid to him pursuant to subsection (1) and shall liquidate all securities transferred to him pursuant to subsection (1) and pay the moneys realized from such liquidation into the Superannuation Account on or before September 30, 1973.
PENSION PAYMENTS OUT OF SUPERANNUATION ACCOUNT
4. (1) There shall be paid out of the Superannuation Account on or after the first day of the month following the month in which the payment and transfer described in subsection 3(1) has been made,
(a) any pension benefit being paid out of the Halifax Pilots’ Pension Fund or the Saint John Pilots’ Pension Fund on that date, and
(b) any pension benefit that would have been required to be paid out of either of those Funds on or after that date pursuant to sections 26, 27 and 28 of the Halifax By-law or Part II of the Saint John By-law as they read on February 1, 1973,
to or in respect of any pilot who contributed under either of those By-laws and who retired or was retired pursuant to one of them prior to February 1, 1973.
(2) Every pension benefit payable pursuant to subsection (1) shall be paid subject to the terms and conditions on which that pension benefit would have been paid pursuant to section 26, 27 and 28 of the Halifax By-law or Part II of the Saint John By-law as they read on February 1, 1973.
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