I-3 - Taxation Act

Section 905.0.3.2 Disposition versions

2015-10-21

905.0.3.2. If a particular person described in subparagraph ii or iii of paragraph a of the definition of “qualifying person” in the first paragraph of section 905.0.3 is appointed in respect of a beneficiary of a disability savings plan and a holder of the plan was a qualifying person in relation to the beneficiary at the time the plan (or another registered disability savings plan of the beneficiary) was entered into solely because of the application of paragraph c of that definition, the following rules apply:

(a)  the particular person shall notify the issuer without delay of the person’s appointment;

(b)  the holder of the plan ceases to be a holder of the plan; and

(c)  the particular person becomes the holder of the plan.

2013, c. 10, s. 72; 2015, c. 21, s. 338.

2013-06-05

905.0.3.2. If a particular person described in subparagraph ii or iii of paragraph a of the definition of “qualifying person” in section 905.0.3 is appointed in respect of a beneficiary of a disability savings plan and a holder of the plan is a qualifying person solely because of the application of paragraph c of that definition, the following rules apply:

(a)  the particular person shall notify the issuer without delay of the person’s appointment;

(b)  the holder of the plan ceases to be a holder of the plan; and

(c)  the particular person becomes the holder of the plan.

2013, c. 10, s. 72.