Draft Agreement – Order in Council 1716/2017

O.C. 1716/2017

[Draft]

second 2017 agreement amending the multilateral agreement respecting pooled registered pension plans and voluntary retirement savings plans

Between

Canada, represented by the Minister of Finance;

British Columbia, represented by the Minister of Finance;

Nova Scotia, represented by the Minister of Finance and Treasury Board;

The government of Quebec, represented by the Minister of Finance and by the Minister responsible for Canadian Relations and the Canadian Francophonie;

The Autorité des marchés financiers, represented by the President and Chief Executive Officer;

Saskatchewan, represented by the Minister of Justice and Attorney General;

and

Ontario, represented by the Minister of Finance;

recitals

Whereas Canada, British Columbia, Nova Scotia, Quebec, the Autorité des marchés financiers and Saskatchewan entered into the Multilateral Agreement Respecting Pooled Registered Pension Plans and Voluntary Retirement Savings Plans which came into effect on June 15, 2016;

Whereas Quebec and the Autorité des marchés financiers agree to be bound by only Parts I, with the exception of subsections 2(6) and (7), II, VI, and VII of that agreement;

Whereas Ontario became a party to the Agreement, as amended by the 2017 Agreement Amending the Multilateral Agreement Respecting Pooled Registered Pension Plans and Voluntary Retirement Savings Plans (hereinafter referred to as the “First 2017 Agreement”) attached as Annex 1), on March 31, 2017;

Whereas any subsequent mention of the Agreement means the Multilateral Agreement Respecting Pooled Registered Pension Plans and Voluntary Retirement Savings Plans as amended by the First 2017 Agreement;

Whereas, in accordance with Section 18 of the Agreement, Manitoba wishes to become a party to the Agreement as it will be amended by the Second 2017 Agreement Amending the Multilateral Agreement Respecting Pooled Registered Pension Plans and Voluntary Retirement Savings Plans (hereinafter referred to as the “Second 2017 Agreement”);

Whereas, in accordance with Section 18 of the Agreement, Canada, British Columbia, Nova Scotia, Quebec, the Autorité des marchés financiers, Saskatchewan, and Ontario (hereinafter referred to as “the parties”) unanimously consent to Manitoba becoming a party to the Agreement, as it will be amended by the Second 2017 Agreement;

Whereas the parties unanimously consent to entering into the Second 2017 Agreement, in accordance with Section 21 of the Agreement;

Now, therefore, the parties agree as follows:

Additional Party

The parties, in accordance with Section 18 of the Agreement unanimously consent to Manitoba becoming a party to the Agreement, as amended by the Second 2017 Agreement.

Amendments to the Agreement

In the list of parties to the Agreement appearing directly before the recitals to the Agreement:
1. The word “and” is deleted; and
2. The following words are included at the end of the list:
  and Manitoba, represented by the Minister of Finance;
Schedule A of the Agreement is amended by adding the following at the end of the list of “Provincial PRPP Acts”:

Manitoba
The Pooled Registered Pension Plans (Manitoba) Act, C.C.S.M. c. P94.6

Execution in Counterparts

The Second 2017 Agreement may be executed in counterparts.

Execution in English and French

The Second 2017 Agreement shall be executed in both English and French, each text being equally authoritative.

Effective Date

The Second 2017 Agreement comes into force on [date]. Upon its coming into force, and providing Manitoba has signed a signature page agreeing to join the Agreement (as amended by the Second 2017 Agreement), Manitoba will become one of the parties, and its signed signature page will be included as Annex 2 to the Second 2017 Agreement.

Agreement Unaffected

Except as set forth in the Second 2017 Agreement, the Agreement is unaffected and shall continue in full force and effect in accordance with its terms.

second 2017 agreement amending the multilateral agreement respecting pooled registered pension plans and voluntary retirement savings plans

For Canada

in witness whereof, the undersigned, being duly authorized, has signed the Second 2017 Agreement Amending the Multilateral Agreement Respecting Pooled Registered Pension Plans and Voluntary Retirement Savings Plans.

Signed at Ottawa,

The ( ) day of ( ), 20( ).

[signed]
Minister of Finance

second 2017 agreement amending the multilateral agreement respecting pooled registered pension plans and voluntary retirement savings plans

For British Columbia

Signed at Victoria,

The ( ) day of ( ), 20( ).

[signed]
Minister of Finance

second 2017 agreement amending the multilateral agreement respecting pooled registered pension plans and voluntary retirement savings plans

For Nova Scotia

Signed at Halifax,

The ( ) day of ( ), 20( ).

[signed]
Minister of Finance and Treasury Board

second 2017 agreement amending the multilateral agreement respecting pooled registered pension plans and voluntary retirement savings plans

Signed at Québec,

The ( ) day of ( ), 20( ).

For the government of Quebec

[signed]
Minister of Finance

[signed]
Minister responsible for Canadian Relations and the Canadian Francophonie

For the Autorité des marchés financiers

[signed]
President and Chief Executive Officer

second 2017 agreement amending the multilateral agreement respecting pooled registered pension plans and voluntary retirement savings plans

For Saskatchewan

Signed at Regina,

The ( ) day of ( ), 20( ).

[signed]
Minister of Justice and Attorney General

second 2017 agreement amending the multilateral agreement respecting pooled registered pension plans and voluntary retirement savings plans

For Ontario

Signed at Toronto,

The ( ) day of ( ), 20( ).

[signed]
Minister of Finance

Order in Council 1716/2017

Updated: April 25, 2023

Published: December 13, 2017