Canadian Press Pension Plan Solvency Deficiency Funding Regulations, 2010

2 (1) These Regulations apply to the Canadian Press pension plan if, within 30 days after the day on which these Regulations come into force

• (a) the employer provides a written statement to the Superintendent confirming that the information set out in section 3 has been provided to the beneficiaries and that less than one third of the members of the plan have objected and less than one third of the beneficiaries excluding members have objected to their plan being subject to these Regulations and that the plan will meet the solvency standards set out in these Regulations;

• (b) the administrator provides written notice to the Superintendent and the beneficiaries that the plan will be funded in accordance with these Regulations;

• (c) the employer provides a declaration to the Superintendent stating that the employer has assumed all the liabilities of the plan and acknowledging that it owes the aggregate amount of deferred special payments; and

• (d) the employer provides written confirmation to the Superintendent that it has received an initial investment of $2.25 million.

(2) Subsection 6(1) and sections 11 and 12 of the Solvency Funding Relief Regulations do not apply to the Canadian Press pension plan.