Administrative and Legislative Changes Sample Clauses

Administrative and Legislative Changes. During the term of this Labour Agreement, the Company will be making certain administrative changes to the pension plan regarding the way management responsibilities are carried out. These changes in no way affect the participant's benefits nor affect the responsibilities of the Pension Committee. Certain changes are required from time to time as a result of Federal and/or Provincial legislation in the pension area. Our pension plan texts are reviewed on a periodic basis and where necessary changes are made to meet current legislation. The Company agrees to discuss changes in the pension text with the pension committee recognizing that any changes required by law will be complied with by the Company.
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Administrative and Legislative Changes. During the term of this Labour Agreement, the Company will be making certain administrative changes to the pension plan regarding the way management responsibilities are carried out. These changes in no way affect the participant's benefits nor affect the responsibilities of the Pension Committee. to meet current legislation. The Company agrees to discuss changes in the pension text with the pension committee recognizing that any changes required by law will be complied with by the Company. The Traditional plan design is presented below: Formula % 1.70 % 1.75 % Post- retirement adjustment* (January 1) CPI x 50%, Max: 5%(see note 2) x x x x X *For retirements after May 1,1984 Employee Contributions 6% from Jan 01 6% 6% to April 30 6.5% from May 01 6.5% to April 30 7% from May 01 7% to April 30 7.5% from May 01 7.5% 7.5% 7.5% 7.5% Note 1: Pension amendments will be implemented in two steps. The plan will be first amended in 2005 and this first amendment will cover changes occurring between Jan. 1st, 2005 and Dec. 31st, 2008 including indexation in 2005 and 2007. A second amendment will be made in 2009 and will cover changes taking place between January 1st, 2009 and April 30th, 2014 including indexation in 2009, 2011 and 2013. To be effective, these amendments must comply with laws and regulations in effect when filings are made. Note 2: The pension adjustment formula is based on the Consumer Price Index for the 12-month period ending in October of the preceding year (rounded to the nearest tenth of one per cent), subject to a maximum 5% adjustment. For calculation purposes, the Consumer Price Index means the all-items index (1992=100, or if not available, the latest series available) published by Statistics Canada.
Sample 1Sample 2
Administrative and Legislative Changes. During the term of this Labour Agreement, the Company will be making certain administrative changes to the pension plan regarding the way management responsibilities are carried out. These changes in no way affect the participant's benefits nor affect the responsibilities of the Pension Committee. Certain changes are required from time to time as a result of Federal and/or Provincial legislation in the pension area. Our pension Plan texts are reviewed on a periodic basis and where necessary changes are made to meet current legislation. The Company agrees to discuss changes in the pension text with the pension committee recognizing that any changes required by law will be complied with by the company. The plan design is presented below: Formula % 1.70 % 1.75 % Post- retirement adjustment* (January 1) CPI x 50%, Max: 5%(see note 2) x x x x X *For retirements after May 1,1984 Employee Contributions 6% from Jan 01 6% 6% to April 30 6.5% from May 01 6.5% to April 30 7% from May 01 7% to April 30 7.5% from May 01 7.5% 7.5% 7.5% 7.5% Note 1: Pension amendments will be implemented in two steps. The plan will be first amended in 2005 and this first amendment will cover changes occurring between Jan. 1st, 2005 and Dec. 31st, 2008 including indexation in 2005 and 2007. A second amendment will be made in 2009 and will cover changes taking place between Jan. 1st, 2009 and April 30, 2014 including indexation in 2009, 2011 and 2013. To be effective, these amendments must comply with laws and regulations in effect when filings are made. Note 2: The pension adjustment formula is based on the Consumer Price Index for the 12-month period ending in October of the preceding year (rounded to the nearest tenth of one per cent), subject to a maximum 5% adjustment. For calculation purposes, the Consumer Price Index means the all-items index (1992=100, or if not available, the latest series available) published by Statistics Canada.
Sample 1

Related to Administrative and Legislative Changes

  • Legislative Changes If the premium paid by the Employer for any employee benefit stipulated in this agreement is reduced as a result of any legislative or other action by the government of British Columbia, the amount of the saving shall be used to increase other benefits available to the employees, as may be mutually agreed to between the parties.

  • LEGISLATIVE CHANGE 1. In this article, “legislation” means any new or amended statute, regulation, Minister’s Order, or Order in Council which arises during the term of the Collective Agreement or subsequent bridging period. 2. a. Should legislation render any part of the Collective Agreement null and void, or substantially alter the operation or effect of any of its provisions, the remainder of the provisions of the Collective Agreement shall remain in full force and effect.

  • Implementation Legislation The Contracting Parties shall enact any legislation necessary to comply with, and give effect to, the terms of the Agreement.

  • LEGISLATIVE AUTHORITY Halifax Regional Municipality Charter (HRM Charter), Part VIII, Planning & Development.

  • Legislative Action IT IS AGREED BY AND BETWEEN THE PARTIES THAT ANY PROVISION OF THIS AGREEMENT REQUIRING LEGISLATIVE ACTION TO PERMIT ITS IMPLEMENTATION BY AMENDMENT OF LAW OR BY PROVIDING THE ADDITIONAL FUNDS THEREFORE, SHALL NOT BECOME EFFECTIVE UNTIL THE APPROPRIATE LEGISLATIVE BODY HAS GIVEN APPROVAL.

  • Legislative Leave To the extent authorized by 21 VSA 496, and subject to any conflict of interest or legal barrier as may be determined by the Attorney General, the Hatch Act or any other applicable federal law, state employees shall be entitled to leave of absence in order to serve in the General Assembly. Leave under this situation must be specifically approved in advance by the appointing authority and Commissioner of Human Resources.

  • Canadian Anti-Money Laundering Legislation (a) Each Loan Party acknowledges that, pursuant to the Proceeds of Crime Act and other applicable anti-money laundering, anti-terrorist financing, government sanction and “know your client” laws (collectively, including any guidelines or orders thereunder, “AML Legislation”), the Secured Parties may be required to obtain, verify and record information regarding the Loan Parties and their respective directors, authorized signing officers, direct or indirect shareholders or other Persons in control of the Loan Parties, and the transactions contemplated hereby. Each Loan Party shall promptly provide all such information, including supporting documentation and other evidence, as may be reasonably requested by any Secured Party or any prospective assignee or participant of a Secured Party, in order to comply with any applicable AML Legislation, whether now or hereafter in existence. (b) If the Administrative Agent has ascertained the identity of any Loan Party or any authorized signatories of the Loan Parties for the purposes of applicable AML Legislation, then the Administrative Agent: (i) shall be deemed to have done so as an agent for each Secured Party, and this Agreement shall constitute a “written agreement” in such regard between each Secured Party and the Administrative Agent within the meaning of the applicable AML Legislation; and (ii) shall provide to each Secured Party copies of all information obtained in such regard without any representation or warranty as to its accuracy or completeness. Notwithstanding the preceding sentence and except as may otherwise be agreed in writing, each of the Lenders agrees that the Administrative Agent has no obligation to ascertain the identity of the Loan Parties or any authorized signatories of the Loan Parties on behalf of any Lender, or to confirm the completeness or accuracy of any information it obtains from any Loan Party or any such authorized signatory in doing so

  • Compliance with Money Laundering Legislation The Rights Agent shall retain the right not to act and shall not be liable for refusing to act if, due to a lack of information or for any other reason whatsoever, the Rights Agent reasonably determines that such an act might cause it to be in non-compliance with any applicable anti-money laundering or anti-terrorist legislation, regulation or guideline. Further, should the Rights Agent reasonably determine at any time that its acting under this Agreement has resulted in it being in non-compliance with any applicable anti-money laundering or anti-terrorist legislation, regulation or guideline, then it shall have the right to resign on 10 days' written notice to the Corporation, provided: (i) that the Rights Agent's written notice shall describe the circumstances of such non-compliance; and (ii) that if such circumstances are rectified to the Rights Agent's satisfaction within such 10-day period, then such resignation shall not be effective.

  • Data Protection Legislation the UK Data Protection Legislation and any other European Union legislation relating to personal data and all other legislation and regulatory requirements in force from time to time which apply to a party relating to the use of Personal Data (including, without limitation, the privacy of electronic communications) and the guidance and codes of practice issued by the Information Commissioner or relevant government department in relation to such legislation.

  • Anti-Money Laundering Legislation (a) Each Loan Party acknowledges that, pursuant to the Proceeds of Crime Money Laundering) and Terrorist Financing Act (Canada) and other applicable anti-money laundering, anti-terrorist financing, government sanction and “know your client” laws, under the laws of Canada (collectively, including any guidelines or orders thereunder, “AML Legislation”), Agent and Lenders may be required to obtain, verify and record information regarding each Loan Party, its respective directors, authorized signing officers, direct or indirect shareholders or other Persons in control of such Loan Party, and the transactions contemplated hereby. Administrative Borrower shall promptly provide all such information, including supporting documentation and other evidence, as may be reasonably requested by any Lender or Agent, or any prospective assign or participant of a Lender or Agent, necessary in order to comply with any applicable AML Legislation, whether now or hereafter in existence. (b) If Agent has ascertained the identity of any Loan Party or any authorized signatories of any Loan Party for the purposes of applicable AML Legislation, then the Agent: (i) shall be deemed to have done so as an agent for each Lender, and this Agreement shall constitute a “written agreement” in such regard between each Lender and the Agent within the meaning of applicable AML Legislation; and (ii) shall provide to each Lender copies of all information obtained in such regard without any representation or warranty as to its accuracy or completeness. (c) Notwithstanding the provisions of this Section and except as may otherwise be agreed in writing, each Lender agrees that Agent has no obligation to ascertain the identity of the Loan Parties or any authorized signatories of the Loan Parties on behalf of any Lender, or to confirm the completeness or accuracy of any information it obtains from the Loan Parties or any such authorized signatory in doing so.

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