Registered Plans Directorate Newsletter, no. 90-1
July 30, 1990

Royal assent

BULLETIN

Pension reform legislation (Bill C-52), which amends the Income Tax Act, received royal assent on June 27, 1990. Applications for registration and plan amendments to registered pension plans submitted after royal assent will not be reviewed until the regulations have been approved. Effective with royal assent the definition of significant shareholder is replaced by the definition of persons connected with an employer in subsection 8500(3) of the draft regulations. Please note that with this change plans submitted after royal assent may not be primarily for the benefit of connected persons for pensionable service prior to January 1, 1991. Further information will be provided later this summer in the next Pension Reform Update.

REGISTERED PLANS DIVISION, REVENUE CANADA, TAXATION