Common use of Conditions for Transfer Clause in Contracts

Conditions for Transfer. Before transferring out the locked-in money pursuant to section 3 herein, the Trustee shall advise the transferee financial institution in writing of the locked-in status of the money shall make acceptance of the transfer subject to the conditions provided for in subsection 29(4)(f) of the Regulation. If the Trustee does not comply with the above condition, and the transferee financial institution fails to pay the money transferred in the form of a pension or in the manner required by the Regulation, the Trustee shall provide or ensure the provision of a pension in an amount that would have been provided had the money not been paid out or transferred contrary to the provisions of the Act or the Regulation.

Conditions for Transfer. Before transferring out the locked-in money assets pursuant to section 3 herein, the Trustee shall must advise the transferee financial institution in writing of the locked-in status of the money shall assets and make acceptance of the transfer subject to the conditions provided for in subsection 29(4)(f) section 29 of the Regulation. If the Trustee does not comply with the above conditionconditions, and the transferee financial institution fails to pay the money assets transferred in the form of a pension or in the manner required by the Regulation, the Trustee shall must provide or ensure the provision of a pension in an amount that would have been provided had the money assets not been paid out or transferred contrary to the provisions of the Act or the Regulation.