BILL 41

An Act to Amend the Pension Benefits Act

Her Majesty, by and with the advice and consent of the Legislative Assembly of New Brunswick, enacts as follows:

1 Paragraph 10(2)(a) of the Pension Benefits Act, chapter P-5.1 of the Acts of New Brunswick, 1987, is repealed and the following is substituted:

(a)  a completed application in the form provided by the Superintendent,

2 Paragraph 11(2)(a) of the Act is repealed and the following is substituted:

(a)  a completed application in the form provided by the Superintendent,

3 Subsection 15(1) of the Act is amended by striking out “in the prescribed form” and substituting “in the form provided by the Superintendent”.

4 Subsection 36(4) of the Act is amended by striking out “in the prescribed form to the administrator” and substituting “to the administrator in the form provided by the Superintendent”.

5 Subsection 40.1(2) of the Act is amended by striking out “on the prescribed form” and substituting “in the form provided by the Superintendent”.

6 Paragraph 56.1(1)(c) of the Act is amended by striking out “on a prescribed form” and substituting “in the form provided by the Superintendent”.

7 The Act is amended by adding after section 87 the following:

Forms filed with the Superintendent

87.1( 1) The Superintendent may establish forms for the purposes of any provision of this Act or the regulations.

87.1( 2) The Superintendent may establish the form and content of forms, including establishing whether a form is required to be signed, certified or made under oath or solemn declaration and any additional requirements respecting signatures.

87.1( 3) The Superintendent may, in forms, request personal information either directly from an individual to whom the information relates, or indirectly, from any other person authorized to complete the form.

87.1( 4) The Regulations Act does not apply to the forms established by the Superintendent or to the requirements referred to in subsection (2).

87.1( 5) If there is a conflict or an inconsistency between a form established by the Superintendent and this Act or a regulation made under this Act, this Act or the regulation made under this Act prevails.

Electronic filing of forms and documents

87.2( 1) The Superintendent may require that any form or document required to be filed with the Superintendent under this Act or the regulations be submitted in an electronic format that has been approved by the Superintendent, using the technology put in place by the Superintendent.

87.2( 2) If the Superintendent requires a form to be submitted in an electronic format, any requirement in this Act or the regulations that the truth of the information provided be certified is satisfied if the form is accompanied by a statement to that effect that is signed in accordance with the Electronic Transactions Act by the person so certifying.

87.2( 3) If the Superintendent requires a document to be submitted in an electronic format, any requirement in this Act or the regulations for filing a certified copy of the document is satisfied if the document is accompanied by a statement to that effect that is signed in accordance with the Electronic Transactions Act by the person so certifying.

8 Subsection 99.1(5) of the Act is amended by striking out “in the prescribed form to the administrator” and substituting “to the administrator in the form provided by the Superintendent”.

9 Section 100 of the Act is amended

(a)  in subsection (1)

( i) by striking out paragraph (c) and substituting the following:

(c)  requiring the use of forms established by the Superintendent;

( ii) by adding after paragraph (k) the following:

(k.01)  respecting the withdrawal of the commuted value of a retirement savings arrangement;

( iii) by adding after paragraph (t) the following:

(t.01)  respecting the registration of a financial institution acting as a trustee for a retirement savings arrangement;

(b)  by adding after subsection (3) the following:

100( 4) A code, formula, standard or procedure adopted by the Canadian Institute of Actuaries may be adopted by reference under subsection (3) as it read at a fixed time or as it is amended from time to time.

10 This Act or any provision of it comes into force on a day or days to be fixed by proclamation.