|
|
56 |
|
|
|
|
|
|
|
First
Session, 47th General Assembly 61
Elizabeth II, 2012 |
|
|
AN ACT TO AMEND AN ACT
TO AMEND THE |
|
|
Received and Read the First Time................................................................................................... |
|
|
Second |
|
|
Committee............................................................................................................................................ |
|
|
Third |
|
|
Royal Assent...................................................................................................................................... |
|
|
HONOURABLE
DARIN KING Minister of Justice |
|
|
Ordered
to be printed by the Honourable House of Assembly |
|
|
EXPLANATORY NOTES This Bill would amend An Act to Amend the Enduring Powers of Attorney Act. The Bill would clarify certain provisions of that Act, and would provide the regulation making powers required to implement RDSP amendments. In particular, this Bill would · amend subsection 15(3) of the Act to also allow an application under that subsection by a spouse, cohabiting partner or child who has reached the age of majority; · amend subsection 16(5) of the Act to require a copy of a designation agreement to be given to the bank or financial institution which will hold the RDSP; and · amend subsections 20(2), (3) and (4) of the Act to ensure consistency of reference to the statement required under subsection 20(1). |
|
A BILL AN ACT TO AMEND AN ACT TO AMEND THE ENDURING POWERS OF ATTORNEY ACT Analysis 1. S.1 Amdt. 2.
S.3 Amdt. 3. Commencement Be it enacted by the Lieutenant-Governor and House of Assembly in Legislative Session convened, as follows: SNL2012 c4 1. Section 1 of An Act to Amend the Enduring Powers of Attorney Act is amended by repealing subsection 2(2) and substituting the following: (2) This Act, except sections 15 to 22, applies only to a power of attorney that authorizes the management of the estate of a donor. 2. (1) Section 3 of the Act is amended by repealing subsection 15(3) and substituting the following: (3) Where an adult cannot satisfy subsection (2), that adult is not entitled to appoint designates under a designation agreement, but that adult, the parents or guardians of that adult, the spouse or cohabiting partner of that adult, or a child of that adult who has reached the age of majority may apply to court for an order appointing the public trustee as the designate of the adult under a designation agreement, and the court may issue that order where it is in the best interests of the adult to do so. (2) Section 3 of the Act is amended by repealing subsection 16(5) and substituting the following: (5) A designation agreement is effective when it is filed with the public trustee, and that filing may be made by facsimile transmission or other electronic means and a copy shall be provided to the bank or financial institution which will hold the RDSP. (3) Section 3 of the Act is amended by deleting in subsections 20(2), (3) and (4) the words "report" and "reports" and substituting the words "statement" and "statements" as the context requires. (4) Section 3 of the Act is amended by adding immediately after section 21 the following: Regulations 22. The Lieutenant-Governor in Council may make regulations (a) respecting procedures and operational processes required to facilitate access to an RDSP; (b) prescribing requirements for the witnessing and execution of designation agreements by adults, including witnessing and execution requirements where an adult is unable to sign; (c) respecting the integration of the provisions of this Act with the operations of banks or financial institutions which will hold RDSPs; and (d) generally, for the purpose and administration of this Act. Commencement 2. This Act comes into force on the date that An Act to Amend the Enduring Powers of Attorney Act is proclaimed. ©Queen's Printer |