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Marginal note:Board of directors

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• (2) The following persons are disqualified from being directors:

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  • (g) a person who

    • (i) is entitled to or has been granted a pension benefit under the Public Service Superannuation Act, the Canadian Forces Superannuation Act or the Royal Canadian Mounted Police Superannuation Act,

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Marginal note:Act not applicable to certain persons

45 This Act does not apply to officers or militiamen who were not in the forces on the 31st day of March 1946 and who were or are appointed to or enlisted in the forces subsequent to that day and who have not been granted a pension under this Act.

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Marginal note:Diversion of payments to satisfy financial support order

• 35.1 (1) When any court in Canada of competent jurisdiction has made an order requiring a pensioner to pay financial support, amounts payable to the pensioner under this Act are subject to being diverted to the person named in the order in accordance with Part II of the Garnishment, Attachment and Pension Diversion Act.

• Marginal note:Payment deemed to be to pensioner

  (2) For the purposes of this Act, any payment made pursuant to subsection (1) shall be deemed to have been made to the pensioner in respect of whom the payment was made.

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Marginal note:Deductions from pay

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• Marginal note:Deductions not made for sufficient number of years

  (2) Where an officer becomes entitled to a pension, and the deduction from his pay provided for in this section has not been made for as great a number of years as that upon which his pension is based, the aggregate amount of pay received by him during the years for which no such deduction has been made, shall be divided by the number of such years for the purpose of ascertaining the average pay of such officer during such years, and a yearly deduction amounting to five per cent upon such average pay shall be made from the pension of such officer, and such deduction shall continue to be made until the expiration of the number of years last mentioned or the cessation of the payment of the pension, whichever shall first happen; but if the officer thinks fit, the deficiency in the deduction may be made good by him in one payment.

• Marginal note:C.R.F.

  (3) The sums deducted under this section shall form part of the Consolidated Revenue Fund.

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Marginal note:Books and systems

• 35 (1) The Board shall, in respect of itself and each of its subsidiaries, cause

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  • (c) a record of the investments held by each fund during the financial year to be kept, showing

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    • (iii) the information that would permit the determination of whether the requirements of this Act and the investment policies, standards and procedures have been met.

• (2) The books, records, systems and practices required by subsection (1) shall be kept and maintained in a manner that will provide reasonable assurance that

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  • (b) the Board’s transactions and those of its subsidiaries are in accordance with this Act and the by-laws, or the by-laws of its subsidiaries; and

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