| Citation: |
Canada (Attorney General) v. Aéroport de Québec Inc., 2011 FC 195, [2011] 2 F.C.R. D-5 |
T-738-10 |
Pensions
Application to Court for order requiring respondent to comply with direction of Office of Superintendent of Financial Institutions (OSFI) to pay $263 000 to pension plan fund of general management of Aéroport de Québec inc. in accordance with Pension Benefits Standards Act, 1985, R.S.C., 1985 (2nd Supp.), c. 32 (PBSA), s. 33.1—Former employee, respondent signing acquittance, transaction involving transfer of actuarial present value of obligations of pension plan of former employee to plan of future employers—OSFI informed of termination of pension plan—OSFI making direction after determining that respondent not demonstrating due diligence, care in investing plan’s assets—Whether Court having jurisdiction to order enforcement of direction under s. 33.1, whether respondent could collaterally attack validity of direction—Indisputable that Court authorized to issue order sought under s. 33.1—Parliament intending for OSFI to be able to effectively, expeditiously act to prevent, correct any action compromising financial interests of members, other beneficiaries of pension plan—Permitting direction to be attacked collaterally in course of application for legal enforcement would compromise effectiveness of protection, supervision plan put in place by PBSA, undermine powers conferred on OSFI—Person concerned by OSFI direction not without recourse if person contesting its validity— OSFI direction subjected to judicial review—However, in context of application, Court cannot rule on validity of direction—Marginal note in French version of s. 33.1, “exécution judiciaire”, additional clue that Parliament’s intention not to require OSFI to have its directions approved by Court, but rather that OSFI call upon Court to assist it in rendering them fully enforceable—In conclusion, order application in accordance with PBSA, s. 33.1 not opportunity to challenge validity of OSFI direction—Application allowed.
Canada (Attorney General) v. Aéroport de Québec inc. (T-738-10, 2011 FC 195, Bédard J., judgment dated February 18, 2011, 23 pp.)