1 (1) The following definitions apply in these Regulations.
beneficiary means
(a) in respect of a pension plan that has been registered under section 12 of the Pooled Registered Pension Plans Act, a person who is a member of the plan, as defined in subsection 2(1) of that Act, or a survivor, as defined in that subsection, who holds an account with the plan; and
termination , in respect of
(a) a pension plan that has been registered or is filed for registration under section 10 of the Pension Benefits Standards Act, 1985, has the same meaning as in subsection 2(1) of that Act; and
winding-up , in respect of
(b) a pension plan that has been registered under section 12 of the Pooled Registered Pension Plans Act, has the same meaning as in subsection 2(1) of that Act. (liquidation)
[...]
(3) Despite subsection (1), the assessment to be paid is equal to zero if,
(b) in the case of a pension plan that has been registered or is filed for registration under section 10 of the Pension Benefits Standards Act, 1985,
(iii) the plan is terminated with a solvency deficit, as defined in subsection 24.1(1) of the Pension Benefits Standards Regulations, 1985, and the plan is a negotiated contribution plan, as defined in subsection 2(1) of the Pension Benefits Standards Act, 1985, or the employer who is required to pay into the plan under subsection 9(1.1) of that Act is
(A) a bankrupt, as defined in section 2 of the Bankruptcy and Insolvency Act,
4 The basic rate for a fiscal year is the rate determined in accordance with the following formula:
(A + B)/C
where
D – E
