Common use of Locked Clause in Contracts

Locked. In Funds: Assets may only be transferred to this LIF if they are locked-in under the Pension Laws and are transferred directly from a pension plan under paragraph 42(1)(b) or subsection 42(12) of the Ontario Pension Act, another LIF, an LRIF, or a LIRA in accordance with Pension Laws.

Locked. In Funds: Assets may only be transferred to this LIF LIRA if they are locked-in under the Pension Laws and are transferred directly from a pension plan under paragraph 42(1)(b) or subsection 42(12) of the Ontario Pension Act, Act or from another LIF, an LRIF, or a LIRA in accordance with Pension Laws.