O. Reg. 338/13: INSURANCE FUND

Link to law: http://www.ontario.ca/laws/regulation/r13338
Published: 2013-12-16

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ONTARIO REGULATION 338/13

made under the

WORKPLACE SAFETY AND INSURANCE ACT, 1997

Made: December 11, 2013
Filed: December 16, 2013
Published on e-Laws: December 16, 2013
Printed in The Ontario Gazette: January 4, 2014


Amending O. Reg. 141/12

(INSURANCE FUND)

1. Subsection 1 (3) of Ontario Regulation 141/12 is revoked and the following substituted:

(3) The sufficiency ratio of the insurance fund as of each date set out in subsection (2) shall be calculated by dividing the value of the insurance fund assets as of that date by the value of the insurance fund liabilities as of that date, and shall be expressed as a percentage.

(4) The values of the assets and liabilities shall be determined by the Board in actuarial valuations made using actuarial methods and assumptions that are consistent with accepted actuarial practice for going concern valuations.

Commencement

2. This Regulation comes into force on the later of January 1, 2014 and the day this Regulation is filed.

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