Common use of Transfers from the Fund Clause in Contracts

Transfers from the Fund. Subject to any restrictions imposed by the Act and by Pension Legislation, and after payment to the Annuitant of the minimum amount for the year, the property of the Fund may be transferred to a RLSP or an RLIF, or used to purchase a life annuity in accordance with paragraph 60(l) of the Act. Where the Fund holds identifiable and transferable securities, the transfer or purchase may, unless otherwise stipulated, at the option of the Trustee and with the consent of the Annuitant, be effected by remittance of the investment securities of the Fund. Before transferring property of the Fund, the Trustee will:

Transfers from the Fund. Subject to any restrictions imposed by the Act and by Pension Legislation, and after payment to the Annuitant of the minimum amount for the year, the property of the Fund may be transferred to a RLSP LRSP, a LIF or an RLIF, or used to purchase a life annuity in accordance with paragraph 60(l) of the Act. Where the Fund holds identifiable and transferable securities, the transfer or purchase may, unless otherwise stipulated, at the option of the Trustee and with the consent of the Annuitant, be effected by remittance of the investment securities of the Fund. Before transferring property of the Fund, the Trustee will:

Transfers from the Fund. Subject to any restrictions imposed by the Act and by Pension Legislation, and after payment to the Annuitant of the minimum amount for the yeary ear, the property of the Fund may m ay be transferred to a RLSP LRSP, a LIF or an RLIF, or used to purchase a life annuity a nnuity in accordance with paragraph 60(l) of the Act. Where the Fund holds identifiable iden tifiable and transferable securities, the transfer or purchase may, unless otherwise stipulated, at the option opti on of the Trustee and with the consent of the Annuitant, be effected by remittance of the investment securities of the Fund. Before transferring property of the Fund, the Trustee will: