Divestiture of Service Transitional Coverage Regulations

Divestiture of Service Transitional Coverage Regulations The Treasury Board, on the recommendation of the President of the Treasury Board, pursuant to paragraph 42.1(1)(v.5)a of the Public Service Superannuation Act and paragraph 7(2)(a) of the Financial Administration Act, hereby makes the annexed Divestiture of Service Transitional Coverage Regulations. S.C. 1996, c. 18, s. 35 The definitions in this section apply in these Regulations. Act means the Public Service Superannuation Act. (Loi) person or body means a person or body to whom the administration of a service is transferred or otherwise divested under subsection 40.1(1) of the Act. (cessionnaire) For the purpose of paragraph 40.1(2)(a) of the Act, the maximum period during which a person or body may form part of the Public Service is three years. As a condition of remaining part of the Public Service in accordance with a direction of Treasury Board made under paragraph 40.1(2)(a) of the Act, a person or body shall make monthly payments into the Superannuation Account or the Public Service Pension Fund of the amounts determined in accordance with section 9 of the Public Service Superannuation Regulations. These Regulations come into force on August 28, 1998.