Marginal note:Short title

1. This Act may be cited as the Pension Fund Societies Act.

Marginal note:Definitions

2. The definitions in this section apply in this Act.

“parent corporation”

« personne morale mère »

“parent corporation” means the corporation any of whose officers establish or take proceedings to establish a pension fund society under this Act.

“relative”

« parent »

“relative”, in relation to an officer or employee, includes a relative of the survivor of the officer or employee.

“survivor”

« survivant »

“survivor”, in relation to an officer or employee, means their spouse or a person who was cohabiting with the officer or employee in a conjugal relationship for a period of at least one year immediately before the death of the officer or employee.

Marginal note:Establishment

3. The president, vice-president, general manager, assistant general manager, or the person acting as such, and the cashier, assistant cashier and inspector of any corporation legally transacting business in Canada under any Act of Parliament, or any two of those officers, with any other of the superior officers, may establish a pension fund society in connection with the administration of the corporation under the regulations and subject to the supervision and control designated in this Act, and thereupon they and the employees of the corporation who join the society and those who replace them from time to time are and shall be designated as the pension fund society of the corporation, and under that name are a body corporate.

Marginal note:Declaration to be signed

• 4. (1) Any of the officers referred to in section 3 of any corporation who desire to establish a pension fund society under this Act may make and sign in duplicate a declaration to that effect according to the schedule setting out therein

  • (a) the names, residences and official positions of the officers;

  • (b) the name of the parent corporation;

  • (c) the exact name of the society; and

  • (d) the place within Canada that is to be the chief place of business of the society.

• Marginal note:To be filed

  (2) The declaration referred to in subsection (1) shall be filed in the office of the Minister of Industry and in the office of the registrar of deeds for the county or registration division within which the chief place of business of the society is to be situated.

• Marginal note:Provisional directors

  (3) The officers who make and sign the declaration referred to in subsection (1) shall be the provisional directors of the society and hold office until their successors are appointed or elected.