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Canada Pension Plan

Version of section 111 from 2003-01-01 to 2004-03-31:


Marginal note:Transfers — matured securities not replaced

  •  (1) Where, on the maturity of a security of a province held to the credit of the Canada Pension Plan Investment Fund that was issued before January 1, 1998, the Minister of Finance does not purchase another security under subsection 110(3), or uses only a portion of the principal amount of the matured security to purchase another security, the principal amount of the matured security, or the unused portion, as the case may be, shall be transferred to the Investment Board. The amount shall be paid out of the Consolidated Revenue Fund and charged to the Canada Pension Plan Account.

  • Marginal note:Transfers — excess

    (2) Where in any month the operating balance in the Canada Pension Plan Account exceeds the amount that the Minister of Finance estimates will be required to meet all payments under subsection 108(3) in the immediately following period ending three months after the end of that month and to purchase securities under subsections 110(3) and 110(8) in that month, the amount of the excess in that month shall be transferred to the Investment Board. The amount shall be paid out of the Consolidated Revenue Fund and charged to the Canada Pension Plan Account.

  • R.S., 1985, c. C-8, s. 111
  • R.S., 1985, c. 18 (3rd Supp.), s. 31
  • 1997, c. 40, s. 91
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