A-14, r. 2 - Regulation respecting legal aid

Section 16 Disposition versions

2012-09-01

16. Liquidities comprise everything that is owned in cash or in an equivalent form and the value of assets that can be converted into cash at short notice, such as

(1)  funds that a financial institution holds on deposit for a person or funds that the institution holds in his favour if the person has ready access to those funds;

(2)  securities, if they are regularly quoted on the market on which they are traded;

(3)  claims of which immediate repayment can be obtained; and

(4)  any assets negotiable at sight.

They also include the total amount of any term deposit.

Notwithstanding the foregoing, the following is included in the assets other than liquidities:

(1)  the principal of an indemnity paid following an expropriation of immovable property or damage to compensate for the loss of immovable property if it is used within 2 years of its receipt to replace the property with a view to permanently relocating a person;

(2)  the principal from the sale of a residence if it is used to buy or to build another within 6 months of the sale; and

(3)  the principal from the partition of the family patrimony if it is used within one year following receipt to replace the property concerned.

O.C. 1073-96, s. 16.