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review of decisions of decisions of the registrar - Pension Lawyers ...

review of decisions of decisions of the registrar - Pension Lawyers ...

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• Practical Example:• Section 15B <strong>of</strong> <strong>the</strong> <strong>Pension</strong> Funds Act sets out <strong>the</strong>procedure whereby an apportionment scheme for<strong>the</strong> distribution surplus funds to various stakeholdersis created and approved by <strong>the</strong> <strong>registrar</strong>.• Section 15B(9)(b)(a) states that in order for anapportionment scheme to be valid“… <strong>the</strong> <strong>registrar</strong> [must be] satisfied that <strong>the</strong> statutory actuarialvaluation has been prepared on actuarially sound and acceptableprinciples prescribed”.• The <strong>registrar</strong> <strong>the</strong>n considers whe<strong>the</strong>r this is <strong>the</strong>case, and makes a decision as to whe<strong>the</strong>r toapprove <strong>the</strong> scheme or not.

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