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 prior to using the Fund balance to purchase a life annuity contract and after payment to the Annuitant of the minimum amount for the year, the property of the Fund may be transferred to a LIRA, LIF or LRIF, 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. The Trustee will make the transfer within 30 days of the later of the receipt from the Annuitant of the properly documented transfer request and the maturity of the investment to be transferred. 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 prior to using the Fund balance to purchase a life annuity contract and after payment to the Annuitant of the minimum amount for the year, the property of the Fund may be transferred to an RPP, a LIRA, a LIF or LRIF, 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. The Trustee will make the transfer within 30 days of the later of the receipt from the Annuitant of the properly documented transfer request and the maturity of the investment to be transferred. 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 prior to using the Fund balance to purchase a life annuity contract and after payment to the Annuitant of the minimum amount for the year, the property of the Fund may be transferred to a LIRA, LIF or LRIF, or used to purchase a life annuity in accordance with paragraph 60(l) that meets the requirements of the ActSuperintendent. 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. The Trustee will make the transfer within 30 days of the later of the receipt from the Annuitant of the properly documented transfer request and the maturity of the investment to be transferred. 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 prior to using the Fund balance to purchase a life annuity contract and after payment to the Annuitant of the minimum amount for the year, the property of the Fund may be transferred to an RPP, a LIRA, LIF or LRIFa LIF, or used to purchase a life annuity in accordance with paragraph 60(l) of the Actannuity. 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. The Trustee will make the transfer within 30 days of the later of the receipt from the Annuitant of the properly documented transfer request and the maturity of the investment to be transferred. Before transferring property of the Fund, the Trustee will: