BILL NO. 68
(as introduced)
1st Session, 60th General Assembly
Nova Scotia
55 Elizabeth II, 2006
Pension Benefits Act
(amended)
Michel Samson
Richmond
First Reading: November 1, 2006
Second Reading: November 10, 2006
Third Reading: November 23, 2006 (WITH COMMITTEE AMENDMENTS) (LINK TO BILL AS PASSED)
An Act to Amend Chapter 340
of the Revised Statutes, 1989,
the Pension Benefits Act
Be it enacted by the Governor and Assembly as follows:
1 Chapter 340 of the Revised Statutes, 1989, the Pension Benefits Act, is amended by adding immediately after Section 73 the following Section:
(2) The owner of a prescribed life income fund or a prescribed locked-in retirement account may apply in writing, or by any other prescribed means, to the Superintendent for his or her consent under subsection (1).
(3) Notwithstanding any other enactment, upon consent by the Superintendent to the commutation or surrender, in whole or in part, of a prescribed life income fund or a prescribed locked-in retirement account, the amount surrendered must not be considered when determining, for the purpose of any other Act, the income or assets available to a person.
This page and its contents published by the Office of the Legislative Counsel, Nova Scotia House of Assembly, and © 2006 Crown in right of Nova Scotia. Created December 1, 2006. Send comments to legc.office@novascotia.ca.
