BNS Pension Plan definition

BNS Pension Plan means an approved superannuation scheme sponsored by the Vendor and currently constituted under a Trust Deed dated July 12, 2010 with companion Rules (the “Trust Deed”).
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Examples of BNS Pension Plan in a sentence

  • The actuary for the BNS Pension Plan shall provide a copy of the above-mentioned actuarial valuation report to the Purchaser or an actuary designated by the Purchaser.

  • Such actuarial valuation report shall be based on the provisions of the BNS Pension Plan in effect immediately prior to the Closing Date, such reasonable assumptions as may be selected by the actuary for the BNS Pension Plan, including reasonable assumptions regarding income Tax payable by the Corporation in respect of surplus amounts payable to it from the BNS Pension Plan, and generally accepted actuarial practices and principles.

  • For greater certainty, in connection with the partial wind-up of the BNS Pension Plan, the Vendor and the Trustees shall cause the actuary for the BNS Pension Plan to prepare an actuarial valuation report that sets out the surplus under the BNS Pension Plan relating to the Employees’ participation in the BNS Pension Plan and the Pension Surplus.

  • The Parties acknowledge and agree that, at Closing, the Corporation shall cease to be an Affiliate of the Vendor and as such shall no longer qualify to participate as an “Approved Organization” within the meaning of the BNS Pension Plan and the Corporation shall have made all required contributions to the BNS Pension Plan.

  • The Vendor and the Trustees shall take such steps as are necessary to effect the partial winding up of the BNS Pension Plan and to secure the benefits of the Employees who are members of the BNS Pension Plan and their beneficiaries in accordance with the Rules of the BNS Pension Plan.

  • By reason of the foregoing, there shall be a partial discontinuance of the BNS Pension Plan and all contributions to the BNS Pension Plan by the Corporation and the Employees who are active members of the BNS Pension Plan shall cease.