Bill C-441
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C-441
Second Session, Fortieth Parliament,
57-58 Elizabeth II, 2009
HOUSE OF COMMONS OF CANADA
BILL C-441
An Act to amend the Pension Benefits Standards Act, 1985 (disclosure of environmental, social and governance investment factors)
first reading, September 17, 2009
NOTE
3rd Session, 40th Parliament
This bill was introduced during the Second Session of the 40th Parliament. Pursuant to the Standing Orders of the House of Commons, it is deemed to have been considered and approved at all stages completed at the time of prorogation of the Second Session. The number of the bill remains unchanged.
Mr. Oliphant
402352
SUMMARY
This enactment amends the Pension Benefits Standards Act, 1985 to require the administrator of a pension plan to make available to the public an annual report in respect of any environmental, social or governance factors that the administrator took into account in the previous fiscal year in the selection, retention or liquidation of investments under the administrator’s responsibility or in the exercise of any rights relating to those investments.
Also available on the Parliament of Canada Web Site at the following address:
http://www.parl.gc.ca
http://www.parl.gc.ca
2nd Session, 40th Parliament,
57-58 Elizabeth II, 2009
house of commons of canada
BILL C-441
An Act to amend the Pension Benefits Standards Act, 1985 (disclosure of environmental, social and governance investment factors)
R.S., c. 32 (2nd Supp.)
Her Majesty, by and with the advice and consent of the Senate and House of Commons of Canada, enacts as follows:
1. The Pension Benefits Standards Act, 1985 is amended by adding the following after section 13:
Information to public
13.1 (1) The administrator of a pension plan shall, within 60 days after the end of each fiscal year, prepare a report stating whether the administrator took any environmental, social or governance factors into account during that fiscal year in making decisions respecting
(a) the selection, retention or liquidation of investments under the administrator’s responsibility; or
(b) the exercise of any rights relating to those investments.
(2) If the report states that the administrator did take environmental, social or governance factors into account in making any decisions referred to in subsection (1), the administrator shall include in the report a detailed explanation of how those factors affected each decision.
(3) The administrator shall provide a copy of the report without charge to any person who requests it.
Published under authority of the Speaker of the House of Commons
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Public Works and Government Services Canada
Available from:
Publishing and Depository Services
Public Works and Government Services Canada